“Nuclear is finding is way back to acceptance and real enthusiasm,” said U.S. Secretary of Energy Jennifer Granholm at COP27, as quoted by Reason.com. In fact, she reminds us that the world will need to double, or even triple the amount of power supplied with nuclear energy if we are to reach a global goal of net-zero emissions by 2050. In addition, Diane Cameron, a nuclear power expert with the Organization for Economic Cooperation Development's Nuclear Energy Agency added, “nuclear must triple its installed global capacity from 400 gigawatts to 1200 gigawatts electric before 2050” to meet global goals. She also noted that about 50 new nuclear power plants are currently being constructed, and that another 100 are being considered around the world. As the world goes nuclear to meet global goals, investors may want to keep an eye on uranium stocks, such as Anfield Energy Inc. (TSXV: AEC) (OTCQB: ANLDF), Uranium Energy Corp. (NYSE: UEC), Energy Fuels Inc. (NYSE: UUUU) (TSX: EFR), Cameco Corp. (NYSE: CCJ) (TSX: CCO), and Denison Mines Corp. (NYSE: DNN) (TSX: DML).
Look at Anfield Energy Inc. (TSXV: AEC) (OTCQB: ANLDF), For Example
Anfield Energy Inc. announced that it has expanded its claim holdings in the uranium-rich Artillery Peak project area, located in Mohave County, Arizona. The additional 54 Claims are contiguous to to Anfield’s current project in the Date Creek Basin and increase Anfield’s claim holdings in the area to 119. In addition, the Company has commissioned BRS Inc., an engineering firm, to complete an NI 43-101 uranium resource report for its combined Date Creek Basin/Artillery Peak projects. As stated in Anfield’s November 15 news release, historical records indicate a potential uranium resource in the Artillery Peak/Date Creek Basin area of approximately 2.8 million pounds of U308*.
Corey Dias, Anfield’s CEO commented: “We are pleased to secure additional claims in the vicinity of our Date Creek Basin and Artillery Peak holdings, and to engage BRS to complete a uranium resource report for the combined holdings. This undertaking fits our ongoing two-fold strategy of acquiring assets which fit into either our near-term or longer-term production plans. The near-term strategy centers on our Colorado and Utah uranium and vanadium mines underpinned by our wholly-owned Shootaring Canyon mill, one of only 3 licensed conventional mills in the U.S. The longer-term production strategy includes the acquisition of complementary assets with potential to feed additional uranium and vanadium resource to our Shootaring Canyon mill. We believe that the expected uranium resource delineated for these holdings will serve as a core component of our longer-term strategy.”
Other related developments from around the markets include:
Uranium Energy Corp. announced that it has completed its previously announced acquisition of the Roughrider uranium development project located in the Athabasca Basin in Saskatchewan, Canada from a subsidiary of Rio Tinto plc. Amir Adnani, President and CEO of UEC, stated: “We are pleased to welcome Rio Tinto as a new shareholder and value their vote of confidence in choosing to complete this transaction with UEC. With the acquisitions of Uranium One Americas, UEX and now Rio Tinto’s Roughrider project, we have created an unrivalled, pure play uranium company. Our two-pronged approach combines best in-class 1) U.S. ISR production, and 2) Canadian high-grade conventional pipeline. We see unprecedented growth taking place in nuclear energy and growing demand for uranium, driven by net-zero goals and global decarbonization initiatives. With this backdrop, UEC offers un-encumbered and un-hedged exposure for investors and is positioned as a reliable supplier of uranium to western utilities with the largest diversified North American focused projects and resources.”
Energy Fuels Inc., a leading U.S. producer of uranium and rare earth elements announced that it has entered into a definitive agreement to sell three wholly-owned subsidiaries that together hold Energy Fuels' Alta Mesa ISR Project to enCore Energy for total consideration of $120 million. The Transaction is expected to close by the end of 2022 or early 2023. The Transaction is significant for the Company, as the cash received is expected to fully finance much of the Company's uranium, REE, vanadium and medical isotope business plans for the next two to three years without diluting shareholders. These plans may include: Ramping-up uranium production at one or more of the White Mesa Mill, the Nichols Ranch ISR Project, the Pinyon Plain mine, the La Sal Complex, and/or the Whirlwind mine which total up to two (2) million pounds of U3O8 per year of near-term, lower cost U.S. production capacity in order to fulfill commitments under existing and future long-term uranium supply agreements and as market conditions may warrant; Accelerating the licensing and development of the Company's larger-scale uranium mines, including the Sheep Mountain, Roca Honda, and/or Bullfrog projects, which together will add over five (5) million pounds of production capacity in the next several years; Establishing an "ore purchasing" program to secure additional feed to the White Mesa Mill, from others in the region as uranium mining picks up in the region, thereby maximizing the facility's existing eight (8) million pounds per year licensed uranium production capacity and having sole ownership of this production.
Cameco Corp. announced that the first pounds of uranium ore from the McArthur River mine have now been milled and packaged at the Key Lake mill, marking the achievement of initial production as these facilities transition back into normal operations. "McArthur River and Key Lake are among the best and most prolific uranium assets on the planet, and after building homes for these pounds in our long-term contract portfolio, we are delighted to have them back in production," said Cameco president and CEO Tim Gitzel. "Market conditions have continued to strengthen since we announced their planned restart, with growing geopolitical uncertainty adding to energy security concerns worldwide, and the ongoing global emphasis on decarbonization and electrification only gaining momentum."
Denison Mines Corp.’s David Cates, President and CEO of Denison commented, "It is an incredibly exciting time to be a Denison shareholder. Our company is delivering on our plans to systematically advance the development of Canada's first In-Situ Recovery ('ISR') uranium mine – having recently completed significant de-risking and regulatory milestones. This is occurring at the same time as interest in nuclear energy projects continues to increase as a result of the growing realization that nuclear power must play a critical role in our global battle against climate change. During the third quarter, Denison was successful in obtaining regulatory approvals to construct and operate the Phoenix ISR Feasibility Field Test ('FFT') facility and completed the construction and commissioning of the lixiviant injection modules necessary to launch the leaching phase of the FFT. Shortly thereafter, in October, the Company announced the history-making recovery of uranium bearing solution from the FFT following the successful acidification of the ISR test pattern. This result reflects the tireless effort of our Saskatoon-based technical team to de-risk and validate the 2018 selection of the ISR mining method for the Phoenix uranium deposit. We have now demonstrated that Athabasca Basin uranium can be recovered by the ISR mining method.
Legal Disclaimer / Except for the historical information presented herein, matters discussed in this article contains forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. Winning Media is not registered with any financial or securities regulatory authority and does not provide nor claims to provide investment advice or recommendations to readers of this release. For making specific investment decisions, readers should seek their own advice. Anfield Energy Inc. paid three thousand five hundred dollars for advertising and marketing services to be distributed by Winning Media. Winning Media is only compensated for its services in the form of cash-based compensation. Winning Media owns ZERO shares of Anfield Energy Inc. Please click here for disclaimer.
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