Cantor Fitzgerald on Fission and Ur Energy NewsCantor Fitzgerald on Fission and Ur Energy News
23 dec.
Fission Uranium
Solid first hole in R585E zone while R390E zone expands significantly; Resource estimate jumps
Event: Fission Uranium has announced the first assay result from the R585E zone and has provided additional assays for the flagship R390E zone that has notably expanded.
Bottom line: Positive – This is the first assay from the R585E. In addition, the new assays from R390E have significantly increased our estimated dimensions for the zone as it now spans 263m by 45m.
Of note is the fact that the R585E zone is located just 105m east of the easternmost drill hole in the R390E zone. There is the likelihood that additional drilling will link the two zones together.
The most recent assays for the R390E zone have significantly expanded the potential mineralized length. PLS13-088 has extended the zone 30m to the east while hole PLS13-093 has extended the zone 82.5m to the west. As a result we now estimate the strike length of the R390E zone to be 262.5m in length.
We do caution that there is a notable gap between the new westernmost hole and the previous one. Additional drilling between the two will confirm the continuity of mineralization.
With additional assay results pending from the recent drilling campaign, it is highly likely that our estimate will further increase in the near future.
Our current resource estimate is based on only five of the six identified zones.
===================================================================
Ur-Energy
First sale recorded at higher than expected price point
Event: Ur-Energy has announced that it has completed its first batch of product sales.
Bottom line: Positive – The closing of the first sale of yellowcake is a significant milestone for the company as it is now officially a revenue-generating producer. More importantly, the transaction was realized at a price higher than our estimates.
· Ur-Energy announced today that a total of 90,000 lbs of U3O8 was sold at an average price of $62.92/lb resulting in gross revenues of $5.7M.
· The sales were delivered to two U.S.-based utilities with whom Ur-Energy has multi-year supply agreements with.
· The announced realized price is 4.9% higher than Cantor Fitzgerald Canada Research’s estimate of $60.00/lb for contracted pricing.