According to TD Cowen's recent equity research note, the diminishing supply of uranium is driving the commodity into a new bull market. The note also underscores that the prospects for the nuclear industry and uranium prices are the most favorable they've been in over 15 years.
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Kraken Energy (Ticker: UUSA.c or UUSAF for US investors) has been strategically positioning itself within the growing uranium market, utilizing consolidations and acquisitions to add substantial value. With a keen focus on domestic uranium production in the United States, the company now stands well-equipped with four high-grade uranium projects, offering a strong foundation for uranium's critical role in addressing energy security and the ever-growing global energy demands.
A recent interview with UUSA's CEO, Matthew Schwab, provides valuable insights into the progress made at their flagship Apex property in Nevada.
After a considerable wait, the company has received an official update from the U.S. Forest Service, and they are diligently working towards securing permits for drilling in early 2024.
To meet the necessary permit requirements, UUSA is doing comprehensive baseline surveys, including botany, heritage, and wildlife surveys. Additionally, the company has expanded its property holdings with the acquisition of 2,400 acres of BLM ground, further solidifying their presence in the region.
UUSA has also invested in high-resolution geophysical surveys, aiming to enhance their existing data sets. With these initiatives in place, they are now on track to submit their draft notice of intent to the BLM in the coming weeks, which paves the way for potential drilling at Apex in 2023.
Furthermore, Kraken Energy is gearing up for a series of investor conferences, commencing with CEM Muskoka and followed by CEM Florida, marking the start of a busy Q3 and a promising end to the year.
In summary, the uranium sector is experiencing a revival, and UUSA, under the leadership of Matthew Schwab, is poised to play a role in this resurgence. The company's unrelenting dedication to its projects and its proactive approach in building a robust uranium portfolio in the U.S. paints an optimistic picture for the future.
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Posted on behalf of Kraken Energy Corp.