Kraken is right in the US DOD's backyard! Kraken Energy ( $UUSA.C / $UUSAF ) presenting at Metals Investor Forum early June.
I can see the path to this becoming a 50-60 bagger in market cap (UUSA currently just $21.1 million CAD market cap) just to catch up to current market cap of peer. We aren’t even half-way into this uranium bull market.
If Kraken proves their theory and creates another uranium district it’s ONLY other comparative peer (Land package with mines & mill) is $EFR / $UUUU which has a $1.2Billion CAD market cap. It’s the ONLY uranium company with an operating mill in the entire USA. The US DOD will want production and strategic supply in their backyard in Nevada.
Only an 11 min presentation so worth the watch – but if you can’t here are some take aways I noted:
- Nevada is a lower populated state and Apex mine is in one of the lowest populated areas of that state. Strong case for uranium processing to be built there (just acquired mill site claims in the last NR https://ca.finance.yahoo.com/news/kraken-energy-engages-fuse-advisors-113000854.html).
- Nevada has one of the largest land holdings for the US DOD (US Department of Defence). USDOD is very interested in domestic uranium supply and potentially building a uranium reserve.
- 5M lbs of #uranium historic resource at Apex Mine and previous operators saw potential to increase it 5X. Add in the Diamond Pit with grades of 1% U3O8 and Eldorado Prospect (UUSA recently acquired those claims) and you can see the potential size and scale of this project.
- The geologic structure that hosts the uranium extends for 10’s of km’s.
- Drill permits & drill program expected in Q3. This will be the first time this project has been drilled in over 50 years (past assays are noted in the presentation)
- Some incredibly strong metal credits that are not seen in other uranium mines. Before Apex was a uranium mine it was a #silver mine which PRODUCED at 7,300 g/t Ag. Also #gold & #Bornite