Uranium Report -Monday April 24, 2023.
Greetings dear friends,
uranium stocks are again mostly in the red zone today, but the spot price of uranium is showing signs of life with 50 cent up move. Like I said in my previous report I see this weakness persist until the end of the week when I expect Cameco conference call to give some mojo to the market. Until then look for (good) bargains.
MARKET DATA
📝URANIUM SPOT PRICE
📝US/CANADA URANIUM STOCKS PERFORMANCE
Out of the 76 uranium/ #nuclearenergy related stocks listed in #Canada and #US
15 finished in green territory,
26 stocks flat (13 with no volume at all),
35 stocks finished in red territory.
The winner of the day is Rush Rare Metals with 25.00% gain and looser of the day is Ucore Rare metals with 18.69% loss.
📝AUSTRALIA URANIUM STOCKS PERFORMANCE
Out of the 41 uranium/nuclear energy related stocks listed in Australia,
9 finished in green territory,
12 stocks flat (13 with no volume at all),
20 stocks finished in red territory.
The winner of the day is Thor Mining with 25.00% gain and looser of the day is Enrg Elements with 15.79% loss.
INDUSTRY NEWS
Mass deployment of Holtec SMRs in Ukraine is part of accord's aims
Up to 20 Holtec SMR-160 plants will be built in Ukraine under a cooperation agreement signed between Holtec International and Ukrainian national nuclear operator Energoatom. The agreement calls for the first plant to begin supplying power by March 2029.
Energoatom President Petro Kotin at the signing ceremony (Image: Energoatom)
The agreement was signed on 21 April by Energoatom President Petro Kotin in Kiev and Holtec CEO Kris Singh in Camden, New Jersey, USA. The ceremony was also attended by Ukraine's Minister of Energy Herman Galushchenko and the vice president of Holtec International operations in Ukraine Riaz Avan.
The cooperation agreement envisions implementation of the first SMR-160 Pilot Project with the goal to reach minimum controlled reactor power and connection to the grid by March 2029, Holtec said. "The cooperation agreement further contemplates Energoatom and Holtec jointly developing an efficient execution plan for an expedited construction and commissioning of up to 20 additional SMR-160 plants in Ukraine and for establishing a manufacturing facility in the country for localising the production of a variety of equipment required to build SMR-160 reactors".
Kazatomprom plans new acid plant
Kazatomprom plans to increase its production of sulfuric acid - the main reagent used in its in-situ leach (ISL) uranium operations - with the construction of a new 800,000 tonnes per year plant in the Sozak district of Kazakhstan's Turkestan region.
Sulfuric acid is an essential reagent for Kaztomprom's ISL operations (Image: Kazatomprom)
The Kazakh national atomic company said it has received a certificate of state registration for a new partnership enterprise, Taiqonyr Qyshqyl Zauyty LLP, which has been set up to implement the project for the construction of the new plant. The new enterprise was founded by Kazatomprom (49%) and its subsidiaries RU-6 LLP (25%) and Kazatomprom-SaUran LLP (26%). RU-6 carries out ISL uranium operations at the North Karamurun and South Karamurun deposits in the Kyzylorda region, while Kazatomprom-SaUran produces uranium from the Kanzhugan, Yuzhny Moyynkum, Central Moyynkum, Uvanas and Mynkuduk wellfields.
Licence issued for Russia's first land-based SMR
Nuclear regulator Rostekhnadzor has granted a licence to build the country's first land-based small modular reactor (SMR), in the Republic of Sakha (also known as Yakutia) in Russia's Arctic north.
How a completed plant could look (Image: Rosatom/Telegram)
Rosatom's SMR is a water-cooled RITM-200N reactor that has been adapted from the RITM-200 series used to power the latest fleet of nuclear-powered icebreakers.
The licence is to build the SMR in the Ust-Yansky district of Yakutia and Rosatom noted that the reactors had already proven their ability in Arctic conditions on the icebreakers.
Alexei Likhachev, director general of Rosatom, said the licence decision was "meaningful for the global nuclear industry ... this is permission to construct the first modern land-based SMR in harsh Arctic conditions".
He said that pre-construction work was already under way, with more than 2000 tonnes of cargo delivered to the site, "there are now about 80 workers and 38 pieces of operating equipment there. The scope of work is increasing day by day. The world's first land-based SMR with RITM-200N is planned to be commissioned in 2028".
Rosatom said that the design met "all post-Fukushima safety requirements for the modern NPP design - this is a compact modular nuclear power plant, featuring reduced construction time compared with large nuclear power plants".
COMPANY NEWS
Laramide Resources drills 403 ppm U3O8 over 2 metres at Westmoreland, Australia
Laramide Resources Ltd. [LAM-TSX, ASX; LMRXF-OTCQX] released results from the Long Pocket and Amphitheatre drill programs at its Westmoreland uranium project in Queensland, Australia.
Highlights: At the Long Pocket prospect, LP22DD001 returned 2 metres of 403 ppm U3O8 from surface, and 2.7 metre of 718- ppm U3O88 from 39.3 metres. LP22DD003 returned 2.2 metres of 287 ppm U3O8 from 29.8 metres. LP22DD008 returned 0.6 metres of 503 ppm U3O8 from 16.9 metres and 1 metre of 401 ppm U3O8 from 24 metres.
At the Amphitheatre prospect, AMDD001 returned 3 metres of 507 ppm U3O8 from 59 metres, including 1 metre of 1072 ppm (0.107%) U3O8. AMDD004 returned 4 metres of 277 ppm U3O8 from 34 metres. AMDD005 returned 2 metres of 413 ppm U3O8, including 601 ppm U3O8 from 89 metres.
Consolidated Uranium Graduates to OTCQX Best Market
Consolidated Uranium announced that its common shares are now trading on the OTCQX® Best Market (the " OTCQX ") under the symbol "CURUF" having graduated from the OTCQB® Venture Market. The OTCQX is the highest market tier of OTC Markets on which more than 10,000 U.S. and international securities trade. Trading on OTCQX enhances visibility and accessibility to U.S. investors. The Company's common shares continue to trade on the TSX Venture Exchange under the symbol "CUR".
Thor Energy confirms significant vanadium and uranium at Wedding Bell and Radium Mountain
Thor Energy PLC (AIM:THR, OTCQB:THORF, ASX:THR) has released assay results from work conducted on its Wedding Bell and Radium Mountain uranium and vanadium projects in the Uravan Mineral Belt, Colorado, USA.
The assay results validate downhole gamma readings for uranium, as well as confirming broader vanadium mineralisation.
Among the best results for vanadium were 1.5 metres at 2,660 parts per million vanadium pentoxide (V2O5), 1.5 metres at 1,776ppm V2O5, and three metres at 1,640ppm V2O5.
The company will follow up with a close-spaced airborne magnetics and radiometric survey.
Boss Energy to produce uranium from Honeymoon as next bull market emerges
Boss Energy (ASX: BOE) has reiterated it is fully-funded and remains on track for first uranium production from its Honeymoon mine in South Australia to take advantage of the next uranium bull market.
The company has $103 million in cash on hand to fund ongoing development at the project site, along with a strategic uranium stockpile worth US$63.13 million (A$96 million) based on current spot prices.
Commenting on progress at Honeymoon, Boss managing director Duncan Craib said it was “proceeding to plan”, including delivery of critical equipment, wellfield development and the evaporation pond.
INTERESTING TWEETS
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AGREED 100%
John Quakes buying and selling. Same move as my, sold $suu and Fuu for cash, bought some $glo and waiting for 2-3 more names.
Thank you for your attention.
triANGLE INVESTOR
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