Uranium Report -Wednesday April 26, 2023
Greetings dear friends,
we had a mixed day for #uranium stocks today with spot price on the move again, up 0.45 to $53.95 reported by UxC. After taking a beating in the last couple of weeks it's nice to see a couple of consecutive positive trading days for some uranium stocks. It's all too little to be able to determine the pattern of the trend change, but I hope that it will happen after the publication of Cameco's quarterly results on Friday.
Here is some data/news for today, enjoy.🤞
📝 Uranium spot price: $53.95 reported by UxC
📝 US/CANADA URANIUM STOCKS PERFORMANCE
26 finished in green territory,
25 stocks flat ,
25 stocks finished in red territory.
The winner of the day is First American Uranium $urm with 11.54% gain and looser of the day is Rush Uranium $rsh with 23.81% loss.
📝 AUSTRALIA URANIUM STOCKS PERFORMANCE
Out of the 41 uranium/nuclear energy related stocks listed in #Australia,
8 finished in green territory,
21 stocks flat (13 with no volume at all),
12 stocks finished in red territory.
The winner of the day is Adavale Resorces with 5.88% gain and looser of the day is Emperor Energy with 15.00% loss.
📝 NRC approves use of Framatome codes in advanced nuclear fuel development
Framatome received approval from the US Nuclear Regulatory Commission (NRC) to apply the company's suite of Advanced Codes and Methods to operating conditions with uranium-235 enrichments above the industry standard of 5%.
"This approval is a critical step toward the company's goal of reload readiness by 2027 for implementing nuclear fuel with higher uranium enrichments and burnups in the current light water reactor fleet," Framatome said. "The NRC decision is an important milestone for the company's advanced fuel development efforts targeting improved fuel utilisation for nuclear plant operators and systematic improvements for safety and plant economics."
Fuel vendors and power reactor licensees are exploring the possibility of increasing the maximum enrichment of fuel up to 10%, but NRC regulations currently limit uranium-235 enrichment levels in power reactor fuel to no more than 5% by weight. In June 2021, the NRC accepted for review a topical report to apply Framatome's suite of Advanced Codes and Methods to operating conditions with U-235 enrichments above 5%.
📝 Expansion of US-Korean cooperation on SMRs
Agreements to cooperate on small modular reactors (SMRs) have been signed between South Korean and US companies during a visit by Korean President Yoon Suk-yeol to the USA. Doosan Enerbility and the Export-Import Bank of Korea (KEXIM) signed a memorandum of understanding (MoU) to cooperate with NuScale Power, while SK and Korea Hydro & Nuclear Power (KHNP) have agreed to collaborate with TerraPower.
The MoU between NuScale, Doosan and KEXIM aims to "strengthen collaboration among the three parties and support NuScale's small modular reactor deployment".
"This announcement leverages and bolsters an existing relationship between NuScale and Doosan, and it highlights the domestic and global manufacturing opportunities to build SMRs around the world," NuScale said.
The MoU outlines areas of cooperation, such as marketing, technical support and further development of a global supply chain, while Doosan and NuScale commit to strengthening their cooperation to deploy NuScale VOYGR plants globally. Specifically, Doosan committed to helping establish a US-based supply chain for NuScale Power Module production through capacity expansion and manufacturing technology advancement
📝 Jacobs to design remotely-operated tools for ITER
Jacobs has been awarded a contract to design and engineer maintenance systems for the International Thermonuclear Experimental Reactor (ITER) fusion project.
The contract covers work on up to 25 diagnostic ports and systems in the multinational ITER fusion reactor being built in southern France. It is for four years with a possible two-year extension, Jacobs said, with the company designing and engineering remotely-operated tools.
Karen Wiemelt, Jacobs Energy, Security and Technology senior vice president, said: "Our support of the maintenance of these diagnostics systems not only delivers on Jacobs' commitment to climate response but also our purpose of creating a more connected, sustainable world ... through our team in Aix-en-Provence, combined with the full strength of Jacobs' global capability, we will work with ITER to channel our technology-enabled knowledge and experience toward benefiting people and the planet."
ITER is a major international project to build a tokamak fusion device in Cadarache, France, designed to prove the feasibility of fusion as a large-scale and carbon-free source of energy. The goal of ITER is to operate at 500 MW (for at least 400 seconds continuously) with 50 MW of plasma heating power input. It appears that an additional 300 MWe of electricity input may be required in operation. No electricity will be generated at ITER.
📝 Yellow Cake net asset value rises as uranium spot price improves
Yellow Cake PLC on Wednesday said net asset value per share was up as uranium prices rose in the first quarter.
The Jersey, UK-based specialist investor in uranium said it estimates net asset value per share was GBP4.23 per share on March 31, up 1.9% from GBP4.15 at December 31. The firm said the improvement was due to the increase in the uranium price, partly offset by the rise in the value of sterling against the dollar during the first quarter.
Yellow Cake said the spot price of uranium increased by 5.5% to USD50.65 per pound from USD48.00 per pound the previous quarter.
The company estimated its proforma NAV per share on Monday was GBP4.46, assuming that 20.16 million pounds of U3O8 was valued at a spot price of USD53.50 per pound.
In February, the firm raised USD74.3 million in an oversubscribed placing, before purchasing 1.4 million pounds of U3O8 at USD48.90 per pound, or USD66.0 million overall, from JSC National Atomic Co Kazatomprom.
Yellow Cake said it expects to take delivery of the uranium in the second of half of 2023, brining its total holding to 20.16 million pounds of U3O8.
The company has retained its option to buy an additional USD100 million of uranium in 2023.
📝 Baselode Announces Non-Brokered Flow-Through Private Placement of up to C$5.0 Million
Baselode Energy Corp. announced a non-brokered private placement of up to 10,416,667 flow-through units of the Company at a price of C$0.48 per FT Unit for gross proceeds to the Company of up to C$5,000,000
Each FT Unit will consist of one common share of the Company and one half of one common share purchase warrant (each whole warrant. Each Warrant will entitle the holder to purchase one common share at a price of C$0.70 for a period of 24 months following the closing date of the Offering.
The Company intends to use the proceeds raised from the Offering for exploration of the Company’s projects in the Athabasca Basin.
📝 Kiplin Metals Seeks Geophysical Permits for the Cluff Lake Road (“CLR”) Uranium Project in Saskatchewan
Kiplin Metals Inc. $kip declared that its consultants, Grander Exploration, will be applying for the required exploration permits for the Company’s summer geophysical program at the Cluff Lake Road (CLR) uranium project in northwestern Saskatchewan.
📝 Kraken Energy Completes Airborne Geophysical Survey at Apex Uranium Property
Kraken Energy Corp. (CSE: UUSA) (OTCQB: UUSAF) reported on the interpretation of recently flown 669 line-kilometer ("km") (416 mile) VTEM™ and magnetic airborne geophysical survey on its 100%-owned Apex Property ("Apex" or the "Property") in Central Nevada.
Conductive graphite and sulphides (pyrite and chalcopyrite) are associated with uranium mineralization on the Property, and the VTEM™ survey results have identified numerous conductive anomalies associated with known uranium mineralization on the Property and also along trend to the east-southeast as high priority blind targets.
Warren turning bullish?😉
Quakes buying Goviex Uranium ?
This is great!👌😀
Thank you for your attention.
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