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Uranium Report -Monday May 8, 2023

Greetings dear friends,


we started the week with a good opening for uranium stocks on Australian #stock #market and a slightly less good opening in #America and #Canada. I expect a positive week for #uranium stocks unless we see another bank fail in the meantime. The Fed is probably done. I don't think they're going to be tightening any further.

Positive news just keep on comming for uranium , especially with news about IAEA raises their 2040 #uranium demand projection by +67% from 60,000tU (156 Million lbs #U3O8)/yr to 100,000tU (260 Million lbs)/yr.

Some Quaterly results are comming this week also.


As I announced last week, my plan is to start with interviews of directors of uranium companies, and so far I have arranged 5 interviews with very famous people from the world of uranium companies. I believe the first interview will be out in the next 10 days. Please subscribe to my YouTube channel to see the videos. 👇





MARKET DATA



📝 US/CANADA URANIUM STOCKS PERFORMANCE



Out of the 76 #uranium / #nuclearenergy related stocks listed in #Canada and #US


25 finished in green territory,


30 stocks flat


21 stocks finished in red territory.


The winner of the day is Ucore with 8.18% gain and looser of the day is ALX Uranium with 16.67% loss.




 


📝 AUSTRALIA URANIUM STOCKS PERFORMANCE



Out of the 41 #uranium / #nuclearenergy related stocks listed in #Australia,


21 finished in green territory,


12 stocks flat ,


8 stocks finished in red territory.


The winner of the day is GTI Resources with 14.29% gain and looser of the day is Valor Resources with 10.00% loss.



 

INDUSTRY NEWS



📝Fuelling to begin as first refurbished Bruce unit prepares for restart


Bruce Power has reached the major milestone of "substantial completion" of the construction phase of Major Component Replacement portion of refurbishment of Bruce unit 6 and will now begin refuelling work as the focus moves on to returning the plant to service later this year.


Bruce 6's turbines should be spinning again by the end of the year (Image: Bruce Power)

Unit 6 is the first of six Candu reactors at the site in Ontario to undergo refurbishment in a privately funded investment that will extend the life of the site through 2064. The unit was taken offline for the refurbishment in January 2020 - just as the COVID-19 pandemic was beginning. The impacts and uncertainty of the pandemic presented a "major hurdle" to Bruce Power and its construction partners, the company said, but the substantial completion of the construction phase has been completed on time and on budget.


The construction phase of the unit 6 MCR, completed with execution partner Shoreline Power Group as well as tradespeople from the Ontario Building Trades, included the removal and replacement of 960 fee­der tubes, 480 fuel channels, and 480 calandria tubes. Steam generator work was completed earlier this year by SGRT, a joint venture of Aecon and Framatome and United Engineers & Constructors partnership SGT.


Refuelling the unit with 5760 fuel bundles will begin this month, and other lead-out activities and regulatory inspections will now be completed with the goal of grid reconnection in the fourth quarter of this year.

Image (Bruce Power)


 

📝 Operations suspended at Ukraine nuclear plant in case of 'provocations' - TASS


Operations at the Zaporizhzhia nuclear plant are being suspended in case of "provocations" by Ukrainian forces, the TASS state news agency said on Monday, citing the Moscow-installed governor of the Russia-controlled part of the surrounding region.


Russia captured the plant in the early days of its invasion of Ukraine last year.


Ukraine is expected to start soon a much-anticipated counteroffensive to retake Russian-held territory, including potentially in the Zaporizhzhia region, and Russian authorities have begun evacuating people.


 

UAE signs nuclear energy cooperation agreements with China bodies


📝 Emirates Nuclear Energy Corporation (ENEC), the body responsible for developing ..


Read more at:

https://energy.economictimes.indiatimes.com/news/power/uae-signs-nuclear-energy-cooperation-agreements-with-china-bodies/100060367?redirect=1

 

COMPANY NEWS



📝 Global Atomic Completes a Second Definitive Agreement to Supply Uranium to a Major North American Utility


Global Atomic announced today that the Company has formalized its June 2022 Letter of Intent by signing a Definitive Agreement with a major North American utility for their procurement of uranium from the Dasa Project. The agreement represents the supply of up to 2.1 million pounds U3O8 within a multi-year delivery window beginning in 2025, representing about 7% of Dasa's annual production over the period with a revenue potential valued in excess of US$110 million in real terms.


In January 2023, the Company formalized a similar agreement with another major North American utility for the procurement of Dasa's uranium, representing the supply of 2.4 million pounds U3O8 over a six-year period commencing in 2025, representing a revenue potential of US$140 million in real terms. In total these two agreements represent revenue potential of over US$250 million.


 

📝

enCore Energy Announces Acquisition of Proprietary PFN Technology, Equipment and Global Licensing Rights


Company announced today the acquisition of all of the proprietary Prompt Fission Neutron ("PFN") technology and equipment, including related exclusive intellectual property, and global licensing rights from Energy Fuels Resources (USA) Inc. ("Energy Fuels"), a wholly owned subsidiary of Energy Fuels, Inc. The use and ownership of PFN technology provides enCore with a clear competitive advantage by providing close to real time assays for uranium that cannot be achieved using conventional coring and assay methods. This technology is unavailable to many other uranium exploration and development companies.


The PFN equipment and technology acquired by enCore for $3.1 million USD includes:


Associated proprietary intellectual property, including all internal details of the tools, circuit board diagrams, firmware code, software, manuals, instructions;

The sole right to utilize the license of the PFN technology globally;

Six PFN downhole wireline probes;

Nine gamma downhole wireline probes with single point resistivity, spontaneous potential and deviation;

Two low-mileage, heavy-duty logging trucks with logging and associated equipment;

Power supplies, computers, communication equipment, and other technology.


 

📝 Strathmore Submits Permit to Drill Flagship Night Owl Project


Company announced that it has submitted an application to drill on the Night Owl property. The exploratory plan includes 30 drill sites and 3,000 feet of drilling, to expand the areas of known uranium mineralization, that Night Owl produced from in the 1960s. Strathmore is excited to utilize new, modern geophysical techniques to get a much better understanding of the geology in the area relative to uranium deposition. The Company has been able to identify new targets with even greater potential than the original Night Owl mine site. Strathmore is convinced these new techniques, including the highly successful near-surface, airborne radiometric and magnetic surveys, coupled with a ground-gravity survey, that have provided excellent new targets will result in the company once again get the mine back into production. Completion of the surveys by MWH Geo-Surveys of Reno, Nevada, is slated for early summer. They will include the 640-acre state mineral lease the Company recently acquired in late 2022.


 

📝

Purepoint Uranium Updates Results for Winter Drill Program at Hook Lake Joint Venture


Purepoint announced today the results of its winter drill program at the Hook Lake Joint Venture at the Carter Corridor. The Hook Lake Project is a joint venture between Cameco Corporation (39.5%), Orano Canada Inc. (39.5%), and Purepoint (21%) and lies on trend with high-grade uranium discoveries including Fission Uranium's Triple R Deposit and NexGen's Arrow Deposit.

"Our latest exploration drill hole on the Carter Corridor, CRT23-05, has uncovered a significant 35-metre-wide boron halo surrounding a 0.08% U3O8 uranium intercept over 0.4 metres," said Scott Frostad, VP Exploration at Purepoint. "This discovery of boron associated with uranium in the Carter Corridor is particularly exciting, as boron is a key pathfinder element for uranium deposits. Our neighboring basement-hosted Spitfire uranium discovery also displayed significant boron enrichment that was recognized during its discovery phase."

Highlights

  • Diamond drill hole CRT23-05 returned an assay of 0.08% U3O8 (671 ppm U) over 0.4 metres (319.1 to 319.5m) from a 15 metre graphitic shear zone (318 to 333m) below the unconformity (283m);

  • In addition, the CRT23-05 mineralization was found to be surrounded by a significant boron halo returning greater than 800 ppm B over 35 metres (305-340m);

  • Results were presented to the Joint Venture partners on Monday, May 1, 2023 and plans for follow up drilling are now being developed.

 

INTERESTING TWEETS




 


 




Thank you for your attention.


triANGLE INVESTOR






 

IMPORTANT DISCLAIMER: None of this content is a financial advice of any kind or solicitation to buy or sell any equities or other financial products. This blog/newsletter is only for educational and/or entertainment purposes. Do your own deep research and consult with your financial adviser before making any financial decisions/entering into any type of financial investment.

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