Sprott Bullish on Uranium Longterm + UUSA.c CEO Presentation The uranium market is experiencing a significant price surge, reaching a 12-year high of $72 per pound earlier this week, driven by dwindling supply and increasing global demand for clean energy sources.
Sprott Physical Uranium Trust (SPUT) is a major contributor to this price increase, as it has more than doubled its uranium supply to nearly 62 million pounds in the last two years and plans to acquire even more through an equity program. The CEO of Sprott, John Ciampaglia, expects the uranium bull market to continue for several more years.
Source: https://www.theglobeandmail.com/investing/markets/stocks/SRUUF/pressreleases/20750761/
In a recent presentation Kraken Energy's (Ticker: UUSA.c or UUSAF for US investors) CEO, Matt Schwab, discussed the increasing global demand for uranium driven by conflicts and supply disruptions. He emphasized the critical need for a reliable domestic uranium supply to support the US nuclear reactor fleet.
Notably UUSA closed in the green again today on above average volume, putting it up 23% over the month.
Kraken Energycurrently controls four high-grade uranium properties in the United States, with three of them having a uranium production history. This strategic portfolio positions the company to capitalize on the growing demand for domestic uranium production.
One of these projects, the Harts Point project, is located in the heart of the Colorado Plateau, which is often referred to as the "Athabasca Basin of the United States" for its vast uranium deposits. Harts Point is closely situated to the Lisbon Valley anticline, a region historically known for yielding 80 million pounds of uranium at an average grade of 0.3%. Notably, the project includes historic oil and gas wells that intersect the same uranium-bearing formation and display significant radioactivity.
Kraken Energy recently expanded its Apex Uranium Project in Nevada by acquiring BLM land. This move is expected to streamline permitting processes and advance the project. The historical potential of the Apex property is evident through previous drilling results, which uncovered high-grade uranium intercepts.
In his presentation, CEO Schwab outlined the 2024 exploration plans for Kraken Energy's projects, with a particular emphasis on potential drilling activities at the Harts Point Project. He also highlighted the company's plans to expand exploration efforts across the Apex Project following the acquisition of permits.
Full presentation here:
Posted on behalf of Kraken Energy Corp.