Uranium Report -Thursday May 4, 2023
Updated: May 8
Greetings dear friends,
mixed day for #uranium stocks as general markets fell again, with major indicies headed for its biggest weekly selloff since March.The main reason for broad selloff are (again) bank stocks. Of course, Federal Reserve rising interest rates yesterday did not help as well.
When it comes to #uranium we had no significant news today. Spot price inched higher by 12c to $53.50/lb U3O8.
I expect that we will get rid of this turbulence and that next week should bring better performance for uranium stocks.
📝 US/CANADA URANIUM STOCKS PERFORMANCE
27 finished in green territory,
33 stocks flat
16 stocks finished in red territory.
The winner of the day is First American Uranium with 25.00% gain and looser of the day is Power metals with 9.43% loss.
📝 AUSTRALIA URANIUM STOCKS PERFORMANCE
13 finished in green territory,
17 stocks flat ,
11 stocks finished in red territory.
The winner of the day is Argonaut Resources with 33.33% gain and looser of the day is Emperor Energy with 20.00% loss.
📝 Westinghouse unveils AP300 small modular reactor
Westinghouse has launched what it calls a "game-changer" AP300 small modular reactor, a scaled-down version of its AP1000 reactor, with a goal for the first one to deliver power to the grid within a decade.
How the AP300 might look
The AP300 SMR, based on the licensed and operating AP1000 pressurised light water technology, is described as an "ultra-compact, modular constructed unit that leverages the innovation and operational knowledge of the global AP1000 fleet" and will use identical AP1000 technology including "major equipment, structural components, passive safety, proven fuel and I&C systems".
Westinghouse says it is the first SMR "based on an Nth-of-a-kind operating plant" and it hopes to benefit from the design utilising its Gen III+ technology which already has regulatory approval in the USA, UK and China as well as being in compliance with European Utility Requirements.
Coalition applies for US hydrogen hub funding
📝 The Great Lakes Clean Hydrogen Hub (GLCH) coalition has submitted a full application for funding under the Infrastructure Investment and Jobs Act to create a nuclear-powered clean hydrogen hub to serve Ohio, Michigan, and parts of Pennsylvania and Indiana.
Industrial gases company Linde is the prime applicant on behalf of GLCH (Image: Linde)
The group's application sets out details of a USD2 billion plan to create a clean hydrogen hub which will use nuclear power from Energy Harbor's Davis-Besse plant in Ohio to produce clean hydrogen at a competitive cost.
The project has a well-defined scope, is commercially feasible, and will use proven production technologies to minimise the time required to achieve full production of more than 100 tonnes of hydrogen per day, the group said. The hydrogen it will supply will help major industries across the Midwest to decarbonise as well as serving the hydrogen needs of a growing mobility market (including trucking, transit buses, rail, aviation, and marine) and will benefit local communities through stakeholder engagement, job creation, and workforce partnerships and investments, particularly in disadvantaged communitie.
Eletronuclear seeks to end block on Angra 3 works
📝 Eletronuclear said it was seeking a "constructive dialogue" with the municipal government after it was ordered to stop work on Angra 3 - a unit whose construction only resumed in November after a seven year gap.
Angra nuclear power plant is on the coast south of Rio de Janeiro (Image: Eletronuclear)
In a statement, Eletronuclear said it was "committed to reversing the embargo on the Angra 3 works, seeking a constructive dialogue with the Angra dos Reis City Hall to clarify the issues presented and find a solution that allows the resumption of activities at the construction site".
It added: "The company understands the importance of this project for the country and is committed to contributing to the sustainable development of Costa Verde in the state of Rio de Janeiro. It is essential to point out that the stoppage of the Angra 3 works has consequences that go beyond the scope of the completion of the plant, affecting the economy and the well-being of the local population. Thus, Eletronuclear wants to resume the construction of the unit as soon as possible, guaranteeing the benefits that its completion will bring to the region."
📝 Orano and the #Niger government have signed an agreement for the exploitation of the Somaïr mine until the end of the next decade
Orano confirms its presence in Niger for the next decade. This Thursday, the Nigerien government announced the signing, in Niamey, of a “comprehensive partnership agreement” to extend until 2040 the activity of the Somaïr uranium mine, near the town of Arlit, in the north of the country, in the middle of the desert.
Discussions with Orano helped "see how mining could last as long as possible with new permits, new ways to reduce loads, and see how the life of the mine could be extended," Hadiza said. Ousseïni, Niger's Minister of Mines, who added that the previous horizon was set at 2029. Exploited for half a century, Somaïr - the Société des mines de l'Aïr - has indeed seen its yields reduce for several years and should run out by the end of the next decade.
📝 Even though this news is from the day before yesterday, I think this has flown under the radar. Very good news for the company, which with this acquisition has increased its presence in the #AthabascaBasin among the big boys. Although this property is undrilled, company sees this project as an early-stage with great prospects.
📝Cosa Resources Announces Acquisition of Astro Uranium Exploration Property in the Eastern Athabasca Basin
Company announced the acquisition of the 100% owned Astro uranium exploration property in the Eastern Athabasca Basin, Saskatchewan.
Astro covers 20 kilometres strike length of electromagnetic (EM) conductors which are untested by drilling
Strong potential exists to develop significant additional conductive strike with low-cost airborne surveying
The 40,025-hectare project was acquired by low-cost staking and is 100% owned by Cosa Resources with no encumbrances.
For more informations visit Cosa website at: https://cosaresources.ca/
📝 Standard Uranium Announced Private Placement to Raise $2 Million
Standard Uranium announced it will conduct a non-brokered private placement at a price of $0.035 per unit, and charity flow-through units at a price of $0.05 per unit.
The plan is to raise gross proceeds of up to $2,000,000.
Each NFT Unit will consist of one common share and one common share purchase warrant placed at $0.08 for twenty-four months.
📝 Lightbridge Joins Forces with Esteemed Public-Private Groups to Support the Nuclear Power Industry
Company announced that the Company has joined two important Public-Private nuclear power groups: the U.S. Department of Energy’s (DOE) High-Assay, Low-Enriched Uranium (HALEU) Consortium, and the U.S. Department of Commerce International Trade Administration’s Small Modular Reactor (SMR) Working Group.
This is #gold related but never mind. Nice one Lobbo.
Thank you for your attention.
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