Uranium Report -Thursday April 20, 2023.
Greetings my dear friends,
I will be starting this report with this tweet.
My dear #uranium friend Mart @Yellowbull11 said it all in this sentence.
The fact is uranium sentiment is in the drain. I am seeing some, even well known uranium bulls capitulate. Good news continues daily for the uranium industry and like YB said very "knowledgeable people and plugged-in people" are in very bullish mode, but nevertheless fact remains that stocks are stuck in the mud. I am seeing this coming to an end. I truly believe we are entering the phase calm before storm. There is so many catalysts that can ignite the uranium bull market and that is not an if question, it is a when question.
First thing that can help is next week Cameco conference call on Friday, April 28th.
Until then I believe boring days will continue.
🟡Spot price with no change
🔴 Sprott Physical Uranium Trust continues to trade at a double-digit discount to NAV this week
US/CANADA URANIUM STOCKS PERFORMANCE
13 finished in green territory,
24 stocks flat (some with no volume at all),
39 stocks finished in red territory.
The winner of the day is Kiplin Metals with 11.54% gain..
The looser of the day is Puranium Energy with 13.64% loss.
AUSTRALIA URANIUM STOCKS PERFORMANCE
Out of the 41 uranium/nuclear energy related stocks listed in Australia,
7 finished in green territory,
22 stocks flat (13 with no volume at all),
12 stocks finished in red territory.
The winner of the day is Toro Energy with 9.09% gain and looser of the day is Valor Resources Ltd. with 20.00% loss.
Kazakhstan and #IAEA agreement to strengthen nuclear cooperation
International Atomic Energy Agency (IAEA) Director General Rafael Mariano Grossi and Kazakhstan's Minister of Energy Almasadam Satkaliyev signed a five year framework designed to "ensure closer interaction between the Agency and Kazakhstan in areas related to the development of nuclear power infrastructure, nuclear and radiation safety, food security and nuclear medicine".
The IAEA's Grossi (third from right) tours the LEU Bank (Image: IAEA)
The agreement came during Grossi's visit to the country this week, during which he met Kazakhstan President Kassym-Jomart Tokayev and toured the world's only Low Enriched Uranium Bank, which is a physical stock of 90 metric tons of low-enriched uranium hexafluoride suitable to make fuel for standard light water reactors. The bank exists for IAEA member states in case supply is disrupted due to exceptional circumstances.
Grossi thanked Kazakhstan for "generously and professionally" hosting the LEU Bank, which is located in Oskemen, about 950 kilometers east of Astana. The director general also discussed cooperation on the IAEA's Rays of Hope cancer care initiative and Zodiac programme to protect against zoonotic diseases and said that nuclear power would be central to the country's plans to achieve carbon neutrality.
"During the meeting with the President of the Republic of Kazakhstan, various issues were discussed, including issues related to the development of the country's nuclear industry," Kazatomprom reported Grossi as saying.
Zhandos Nurmaganbetov, vice minister of energy, said: "Today's significant geopolitical events in the world show that Kazakhstan's initiatives on non-proliferation of nuclear weapons, put forward 30 years ago, were timely and correct, and played a major role in ensuring global and regional security, making an invaluable contribution to strengthening peace and stability in the Eurasian space. Having one of the largest natural reserves of uranium in the world and taking the first place in its production, Kazakhstan supports the development of peaceful atomic energy ... and supports the international efforts to support the nuclear non-proliferation regime."
Russia says it doesn't need US fuel for Zaporizhzhia
Russia will switch the occupied Zaporizhzhia nuclear power plant back from US-made nuclear fuel as soon as possible, according to reported comments from Renat Karchaa, an adviser to Rosenergoatom's CEO. It follows a CNN report that the US Department of Energy had sent a letter saying that the occupied plant in Ukraine "contains US-origin nuclear technical data that is export-controlled by the United States Government".
Extension of subscription period for AMC on Physical Uranium
Given the positive response to the product over the recent Easter holidays and at the request of investors with pending orders, Zuri-Invest AG has decided to extend the subscription period until May 26th 2023.
For more informations you can visit their website https://www.zuri-invest.ch/
Some other interesting uranium/nuclear energy headlines in media:
- Finnish utility Teollisuuden Voima Oyj (TVO) has issued an acceptance certificate to the Areva-Siemens consortium for the Olkiluoto 3 (OL3) EPR, which began regular electricity production on 16 April. It said the 1600 MWe reactor is scheduled to enter commercial operation on 1 May.
- Canada's Minister of Finance Chrystia Freeland toured Pickering Nuclear Generating Station this afternoon, one of the workhorses of Canada's CANDU nuclear fleet.
Cameco Signs Nuclear Fuel Agreement to Support Bulgaria's Diversification Efforts
Cameco has signed a 10-year supply contract to provide sufficient volumes of natural uranium hexafluoride, or UF 6 (consisting of uranium and conversion services), to meet the full requirements of the Kozloduy 5 Reactor at the Kozloduy Nuclear Power Plant, the only nuclear generating station in the Republic of Bulgaria.
"This is Cameco's first agreement to supply fuel for Bulgaria's nuclear energy sector," said Cameco's president and CEO Tim Gitzel. "We are very pleased to add another market to Cameco's global commercial portfolio and to expand our contributions to countries like Bulgaria that are seeking to enhance their energy security while affirming their commitment to carbon-free nuclear power in achieving their climate goals."
The agreement, running through 2033, will see Cameco deliver a total of approximately 2.2 million KgU as UF 6 (the equivalent of about 5.7 million pounds of uranium concentrate, or U 3 O 8 ).
Nuclear power accounts for more than one-third of Bulgaria's electricity supply. Kozloduy 5 is one of two reactors operating in the country.
Deep Yellow Limited published quaterly activities report for the period ending 31 March 2023
Cosa Reports Geophysical Survey Results from Castor and Charcoal Uranium Projects
Company announced the preliminary results of the airborne electromagnetic (EM) surveys recently completed on its 100% owned Castor and Charcoal uranium projects in the Eastern Athabasca Basin region.
EM conductors confirmed on both properties with more than 50 kilometres total conductive strike length defined
Conductors at Charcoal lie along the interpreted northeastern extension of the Collins Bay – Eagle Point conductive trend
Conductors at Castor were previously unknown and are located in a zone of structural complexity
AuKing Mining gets drill bit spinning at Manyoni Uranium Project
AuKing Mining Limited (ASX: AKN) has started a 4,400m drilling and associated exploration program at its Manyoni Uranium Project in central Tanzania.
• Proposed 4,400m drilling and associated exploration program at the Manyoni
Uranium Project has commenced.
• Initial results from hand-held devices should be available in the next few weeks,
with more detailed laboratory assays to follow.
• Drilling program is proposed to include holes at the nearby Itigi project where
there is a previously identified significant radiometric anomaly.
• Awaiting response from Tanzanian Minister of Mines in relation to the
revocation of two of AuKing’s licence holdings at Manyoni.
• Other project activities in Tanzania have commenced at Mkuju and Mpanda.
Is these how you feel today?
You see, things are not that bad 😉
Big conviction for #uranium. A lot of guys are all in.
Thank you for your attention.
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 newsletter is only for educational and/or entertainment purposes. Do your own deep research before making any financial decisions.