Hale reported in late 2023 that nuclear, and hence uranium is back, bigger and better than before. Uranium had been in the doldrums since the Fukushima incident of 2011, See more on the Fukushima incident). However, a perfect storm of events has seen the uranium market recently undergo a swift and remarkable rehabilitation.
When Ukraine was invaded in early 2022, the West resolved to wean itself off Russian energy supplies. However, it soon became apparent the only way to achieve enhanced security of supply while staying on net zero target was via nuclear. Hence, new reactors being built at pace and scale, all of which will need uranium.
Yet, with so little investment in uranium mining projects when nuclear was out of fashion, it will take time to scale up production. In the meantime, demand will continue to grow, exacerbated by exhausted stockpiles.
Geopolitical maneuvering and what looks like a profound supply deficit to come has led to a surge in the uranium spot price and ignited investor interest in uranium explorers, developers, and producers.
This report looks at how and why uranium has come in from the cold and what the future may hold for it. By way of evidence, it profiles six companies in the industry with stories to excite, e.g., Sprott Uranium Trust, Blue Sky Uranium (Argentina), Purepoint Uranium Group, Elevate Uranium (Namibia and Australia), Western Uranium and Vanadium Corp (Western U.S.), Aurora Energy Metals (U.S.), Forsys Metals Corp. (Namibia), [and of course Encore Energy (U.S.), Uranium Energy Corp. (U.S. and Peru, etc.), plus the companies operating in and around the Athabasca Basin in western Canada. US Energy Corp, Cameco, Denison Mines, NexGen Energy, Paladin Energy (Australia), Consolidated Uranium, CanAlaska Uranium, Rio Tinto, Mega Uranium, Ltd., BaseLode Energy, Forum Energy Metals, etc.]
[Also of note is that a new roll-front uranium district is likely present on the Seward Peninsula, Alaska. Uranium source rocks have been characterized adjacent to a large Tertiary basin.
For the historical details, see: https://i2mconsultants.com/downloads/corp/Campbell2021IMAGE.pdf ]
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