$NCLR.C Consolidates Land Position at Wray Mesa $NCLR.C (Basin Uranium) just entered into An Option Agreement to acquire a 100%-interest in 7 claims totalling 63 acres. They are located within the Wray Mesa project in Utah. $NCLR is also acquiring the Tessy project located in Fry Canyon, approximately 100 kilometres southwest of the Wray Mesa project. The property is contiguous to and adjoins Energy Fuel's fully-permitted and production-ready La Sal project which includes a number of past-producing uranium and vanadium mines (production of 550,000 lbs U3O8 in 2012).
https://ca.finance.yahoo.com/news/basin-uranium-consolidates-land-position-110000482.html
This property acquisition is just another addition to the already impressive landholdings that $NCLR owns. With electricity demand expected to grow exponentially over the next decade due to EV demand and an increasing amount of countries moving away from fossil fuels, nuclear energy is one of the most efficient and feasible clean energy sources to take advantage of this growth. $NCLR has a few impressive features besides this new land acquisition:
- They hold an option to acquire up to 75% in the Mann Lake uranium project (8,582 acres) located in the famous Athabasca Basin. (Located 25km southwest of the McArthur River Mine, the largest high-grade uranium deposit in the world).
- Preparing for a 5,000M drilling program at Mann Lake which is already funded so we should see some results come out this year.
- Highly experienced management team with an impressive track record of success.
The new land should help solidify $NCLR's positioning in the area. $NCLR is relatively undervalued here with a $10.6M market cap considering the rising uranium prices and team behind the company, I'm seeing strong bids at $0.43 on level 2 which should provide strong support levels here.