Why Uranium Experts Project Uranium Prices Will Spike More Than 50% In 2022

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Apr 28, 2022, 08:30 ET

FinancialNewsMedia.com News Commentary

PALM BEACH, Fla., April 28, 2022 /PRNewswire/ -- Last week, Bank of America released a research note showing that spot prices for uranium had increased significantly in the last couple of months and one big Player, Bank Of America projects that uranium prices will spike more than 50% in 2022, according to a Mining Newswire report. The investment bank expects the mineral to experience further gains in the future as the demand for the use of nuclear energy as an alternative to non-renewable energy sources also grows. Russia plays a central role in the international uranium supply chain, making up over 15% of total uranium supplied this year. In terms of enrichment, Russia makes up roughly 45% of global capacity. In conversion, the Eastern European country makes up nearly 30% of the estimated production of this year and about 20% of international capacity. According to the report: "An analyst at Bank of America, Lawson Winder, stated that the increase in price observed was primarily driven by concern about disruptions in the uranium supply chain. Bank of America added that most of the activity fueling the rise in price was driven by the Sprott Physical Uranium Trust, as opposed to producers or utilities that were actively participating in the market. This is based on a report by UxC, an industry consultancy firm." Active companies in the markets today include: BASIN URANIUM CORP. (OTCPK:BURCF) (CSE:NCLR), Denison Mines Corp. (NYSE:DNN) (TSX:DML), Centrus Energy Corp (NYSE:LEU), Paladin Energy Ltd (OTCQX:PALAF) (ASX:PDN), Cameco (NYSE:CCJ) (TSX:CCO).

The investment bank explained that the Sprott Physical Uranium Trust was currently the largest fund holding actual uranium instead of futures contracts. Earlier in March, the price of uranium hit a new record, its highest figure in more than a decade. This substantial increase is believed to have been prompted by reports that the Biden administration was in talks to gauge the impact of imposing possible sanctions with concerns to Eastern Europe conditions and how that would affect America's nuclear industry.

BASIN URANIUM CORP. (CSE:NCLR.CN) (OTCPK:BURCF) BREAKING NEWS: BASIN URANIUM COMPLETES FIRST HOLE AT MANN LAKE AND ADVANCES PERMITTING FOR WRAY MESA – BASIN URANIUM CORP. ("Basin Uranium" or the "Company") is pleased to announce it has completed the first diamond drill hole at the Mann Lake uranium project in Saskatchewan's prolific Athabasca Basin. The Mann Lake project is located 25km southwest of the McArthur River Mine, the largest high-grade uranium deposit in the world, and 15 km to the northeast along strike of Cameco's Millennium uranium deposit. In addition, the Company has engaged Star Point Enterprises to prepare Utah state exploration permits for an exploration and drill program on its Wray Mesa project.

Highlights:

First diamond drill hole was completed to a depth of 731 metres
Second diamond drill hole underway at a current depth of ~185 metres (target depth of 700 metres)
Core logging and composite lithogeochemical sampling remains ongoing with samples being prepared for shipment to the Saskatchewan Research Council
Commencement of geophysical survey expected in early May 2022
Engaged permitting consultant for Wray Mesa exploration and drill program

"Drilling at Mann Lake is off to a smooth start. Our experienced exploration team continues to make excellent progress on our ongoing exploration program, which remains on time and budget." commented Mike Blady, CEO of Basin Uranium. "Contemporaneously, we are developing an exploration program for our Wray Mesa project with the engagement of Star Point to assist us in the preparation and submission of the permit applications."

Mann Lake Drilling & Exploration Update - The first hole was collared and completed to a target depth of 731 metres, having intersected the unconformity at approximately 650 metres vertical depth. The hole is being logged and will be sent along with the second hole to the Saskatchewan Research Council for chemical assays. The rig has now moved to the second location and is currently at a depth of approximately 180 metres and is planned for a total of 700 metres. The second hole is hole is designed to test an interpreted basement conductor (2014 MT resistivity survey), corresponding with ground UTEM conductor (A3), magnetic low (interpreted metasediment basement) and is along the edge of a gravity low. The Company's geophysical contractor is expected to be on site at the beginning of May to complete moving loop electromagnetic and gravity surveys to identify targets for an additional fall/winter drill program.

Wray Mesa Permitting Update - Star Point Enterprises, Inc. of Moab, Utah is a preeminent permitting, management, and compliance firm. The Company has retained Don Hamilton, Principal and Project Manager, to assist with both federal and state-level agency permitting. The Company is currently compiling and reviewing the historical data, which includes over 400 holes / 200,000 feet of previous drilling, in conjunction with developing an extensive exploration and drill program for the property. The Company expects to finalize the purchase of the Wray Mesa project within the coming days. CONTINUED…Read the BASIN URANIUM full press release by going to: https://basinuranium.ca/news/

In other news and developments of note in the markets this week:

Centrus Energy Corp (NYSE-American:LEU) President and CEO Daniel B. Poneman recently congratulated Clean Core Thorium Energy and Texas A&M on successfully fabricating the first sample pellets of a next-generation nuclear fuel called ANEEL (Advanced Nuclear Energy for Enriched Life). Centrus and Clean Core have been working together under a memorandum of understanding (MOU) signed earlier this year to promote Clean Core's advanced nuclear fuel, which will combine thorium with High-Assay, Low-Enriched Uranium (HALEU) produced by Centrus.

Based on more than 15 years of research and design, the new HALEU-Thorium ANEEL fuel is suitable for new and existing CANDU and other Pressurized Heavy Water Reactors (PHWRs). ANEEL can reduce the amount of waste produced in CANDUs/PHWRs by more than 80 percent, minimizing waste management costs and safety concerns, while offering nonproliferation benefits.

Paladin Energy Ltd (OTCQX:PALAF) (ASX:PDN) recently announced that it has completed an institutional placement (Placement) of new fully paid ordinary shares in Paladin (New Shares). The Placement will raise approximately A$200 million (before costs) through the issue of approximately 278 million New Shares at an offer price of A$0.72 per share. The offer price represents: 8.9% discount to the last closing price of Paladin shares on ASX of $0.79 on March 30, 2022 (being the last date Paladin shares traded prior to announcement of the Placement); and 12% discount to the 5-day volume average weighted price (VWAP) up to and including March 30, 2022.

Proceeds of the Placement, in conjunction with the proposed Share Purchase Plan which seeks to raise up to an additional A$15 million (together the Equity Raise), will be applied to fund the restart of uranium mining operations at the Langer Heinrich Mine, and for working capital expenses and fees.

Cameco (TSX:CCO) (NYSE:CCJ) recently announced that it will issue its first quarter results before markets open on Thursday, May 5, 2022. Cameco invites investors and the media to join its first quarter conference call with the company's senior executives on Thursday, May 5, 2022 at 8:00 a.m. Eastern.

Cameco will discuss trends in the market and the execution of its strategy before opening the call to questions from investors and the media.

To join the call, please dial 800-319-4610 (Canada and US toll-free) or 604-638-5340. An operator will put your call through. The slides and a live webcast of the conference call will be available from a link at cameco.com.

Denison Mines Corp. (TSX:DML) (NYSE:DNN) recently reported the discovery of multiple new high-grade intercepts of unconformity-hosted uranium mineralization in the final three drill holes completed during the winter 2022 exploration program on the Waterfound River property ("Waterfound"). The results were highlighted by drill hole.

WF-68, which returned a broad zone of uranium mineralization, including a peak interval of 5.91% eU3O8over 3.9 metres (0.05% eU3O8 cut-off) with a sub-interval grading 25.30% eU3O8 over 0.7 m, located approximately 800 metres west, along the La Rocque Conductive Corridor, of the previously discovered high-grade mineralization (including 4.49% U3O8 over 10.53 metres) at the Alligator Zone. PDF Version

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