Kraken Energy Corp. (Ticker: UUSA.c or UUSAF for US investors) closed up 11% today with high volume on the CSE.
Spot uranium prices are up sharply. As explained in the article below, uranium prices soared to $54.6 per pound in late May, the highest in over one year, amid threats of lower supply and persistent bets of bullish long-term demand.
https://realmoney.thestreet.com/investing/how-investors-can-get-in-on-soaring-uranium-prices-16125230
UUSA is strategically positioning itself to become a prominent player in uranium production within the United States. The company has a strong presence in Nevada with ownership of three properties: Apex, Garfield Hills, and Huber Hills projects. Furthermore, UUSA recently entered into a definitive option agreement to acquire a majority interest, up to 75%, in the Harts Point Uranium Property located in Utah.
The Harts Point Property is situated in the Colorado Plateau, renowned for its abundant uranium deposits, and benefits from its proximity to the White Mesa Uranium Mill. Spanning an area of 2,622 hectares, the property consists of 324 mining claims and holds permits for exploration drilling.
UUSA's primary focus is to explore the potential for uranium deposits along the eastern flank of an anticline feature within the Chinle Formation at the Harts Point Property. The property has a history of uranium production and displays promising signs of radioactivity.
More on the option agreement and the Harts Point Property here: https://krakenenergycorp.com/news/2023/kraken-energy-executes-definitive-option-agreement-for-the-harts-point-uranium-property-utah/ Posted on behalf of Kraken Energy Corp.