Uranium prices are up over 300% since 2020 and because the world's largest uranium supplier is running short, this could send the yellow metal off for another rally! Kazakh mining company Kazatomprom recently cautioned that it is likely to fall short of production targets through 2025 due to construction delays and "challenges related to the availability of sulfuric acid." Sulfuric acid is critical in the extraction process as it is used to leach and recover uranium from raw ore. First, the company has entered into an LOI with CanAlaska Uranium Ltd., evidencing the parties' intent to negotiate and enter into an option agreement under which Nexus will acquire up to a 75%-interest in the Cree East Uranium Project located in the Athabasca Basin of Saskatchewan, Canada, which is wholly owned by CanAlaska. The Cree East project represents the last, large-scale exploration project located in the heart of the Athabasca Basin with the potential for the discovery of high-grade unconformity-style uranium mineralization in either basement-hosted like Arrow or sandstone-hosted like McArthur River or Cigar Lake. Second, Nexus Uranium Corp. (OTC: GIDMF) has the option to acquire 90% of the Wray Mesa Uranium Project in Utah. This is an advanced-stage uranium project that has benefited from extensive past exploration and drilling located within a Tier-1 jurisdiction and provides an exciting opportunity for shareholders to gain exposure to the growing energy trend. |
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