Governments are revisiting nuclear energy as a dependable and environmentally friendly energy source, leading to a robust resurgence in the nuclear energy sector. There are currently 434 operational nuclear facilities worldwide, and there has been a notable increase in announcements regarding plant restarts and new constructions. This renewed interest in nuclear power has propelled uranium prices to a 12-year high, registering an almost 40% surge since the beginning of the year, with prices reaching $70 per pound.
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This increase in price and demand is creating opportunities for uranium exploration companies like Kraken Energy Corp. (Trading under Ticker: UUSA.c or UUSAF for US investors). UUSA has been steadily advancing its uranium initiatives, including the identification of promising drilling sites at its Garfield Hills Uranium Project and the dissemination of positive soil sampling results from its Apex Uranium Project earlier this year.
In a recent interview, Matt Trout, the CEO of Kraken Energy, delved into the current state of the uranium market and the company's progress.
Matt underscored the growing interest in uranium owing to concerns surrounding supply deficits and the imperative for energy security. Kraken Energy is strategically positioned in this market, boasting four high-grade uranium projects within the United States, with the overarching goal of establishing domestic uranium production.
The interview underscored the strength of Kraken Energy's management team, which possesses extensive expertise in uranium exploration, particularly in Canada's Uranium-Rich Athabasca Basin.
Furthermore, the company has received an update from the U.S. Forest Service and is anticipating the acquisition of permits for drilling on its Apex property in Nevada by early 2024. They also recently expanded their land holdings and are planning on conducting a radon soil survey in the expanded property area.
Matt acknowledged the heightened interest in uranium, both from institutional investors and individual retail investors. He hinted at forthcoming press releases and indicated that the remainder of the year holds promising prospects for Kraken Energy and the uranium market as a whole.
Overall he expressed that things are exceptionally positive for the uranium market and UUSA which is creating a sense of optimism regarding what the future may hold.
Watch here:
Posted on behalf of Kraken Energy Corp.