Nuclear Power Industry's Growth Spurs Uranium Demand The nuclear power industry is experiencing significant growth potential due to the need to reduce carbon emissions and enhance energy security, resulting in a surge in demand for uranium, with an anticipated annual growth of 1% to 2% over the next few decades. Uranium prices have reached their highest level in over a year, standing at $58.25 per pound as of August 21, 2023, up around 22% year-to-date.
Source: https://www.msn.com/en-us/money/markets/interest-in-nuclear-energy-is-growing-with-uranium-output-lagging-demand/ar-AA1fFKRC
The resurgence of nuclear power, poised for its most substantial expansion in decades, has ignited a compelling narrative for uranium exploration companies with assets in the USA. In the face of this increased uranium demand, Kraken Energy Corp. (Ticker: UUSA.c or UUSAF for US investors) is actively working to strengthen the future prospects of America's uranium distribution network.
Kraken Energy has been making continuous strides in advancing its uranium projects, identifying multiple drilling targets at the Garfield Hills Project and unveiling positive results from soil sampling at the Apex Project earlier this year. Furthermore, the company has imminent plans to recommence drilling activities at its recently acquired Harts Point Uranium Project.
Positioned within Utah's Colorado Plateau, Harts Point resides in an area historically renowned for substantial uranium production dating back to the 1950s. This region has yielded over 328 million pounds of UO historically, with concentrations ranging from 0.2 to 0.4%.
Historical data retrieved from adjacent oil and gas wells near Harts Point have unearthed instances of notably elevated radioactivity levels, auguring well for UUSA's ongoing exploration endeavors.
More on the Harts Point Project & UUSA here: https://krakenenergycorp.com/harts-point/This post is shared on behalf of Kraken Energy Corp.