Highlighted Projects: Uranium
Rebuilding social acceptance for a greener future
“At the Lost Creek project, we have generated nearly 3 million lb of uranium. Post-Fukushima incident, uranium prices plummeted, reducing production due to scarce contracts outside Kazakhstan. However, the growing recognition of nuclear power's carbon-free advantages and increasing geopolitical concerns have revived uranium demand. Securing three long-term contracts has prompted a production ramp-up: contracted amounts are set at 180,000 lb for 2023, escalating to 600,000 lb in 2024 and 700,000 lb in 2025. Lost Creek's permitted production capacity is up to 1.2 million lb/y, while the processing plant can handle 2.2 million lb/y. This production flexibility allows Lost Creek to process additional uranium from diverse sources, positioning it as a toll processing site for competitor mines or other facilities.”
John Cash, President and CEO, Ur-Energy
“Our flagship asset, the Apex property in Nevada, was a prime uranium producer in the 1950s. Recently, we swiftly obtained permits from the BLM and commenced drilling it. Additionally, in March 2023, we concluded the maiden drill program at Garfield Hills, which yielded promising results, with surface exploration revealing uranium grades exceeding 1%, and a phase II drilling program is planned for 2024. Huber Hills is in the early development stage, and it requires baseline geophysical and radiometric surveys. We aim to initiate the maiden drilling program on this property in 2024. Finally, Harts Point represents our newest addition through an option agreement. We aim to progress with a maiden drilling program either at the end of 2023 or early 2024.”
Matthew Schwab, CEO, Kraken Energy
“At the Sunday Mine Complex, ongoing core sample extraction has unveiled significant ore. This process began in September 2023, when we acquired an underground drill that reached nearly 3,000 feet. We are drilling about 700 to 800 feet to identify more ore within the area we previously produced. We had been mining and stockpiling ore from one specific section of the mine, but we have paused mining there to focus on drilling.”
George Glasier, President and CEO, Western Uranium and Vanadium
“The Kaycee project stands out as highly unique, with our control extending over 33 miles of the roll-front trend, showcasing a distinctive style of uranium mineralization. Mapped roll fronts span 110 miles, covering a 43-square-mile claim package, including BLM claims on private surface ground and BLM/state lease ground. Our focus on the Saddle zone has yielded promising results through ongoing drilling, which is expected to continue until December 2023 before resuming in spring 2024.”
Michael Collins, CEO, Nuclear Fuels