Uranium is experiencing a remarkable resurgence, with prices jumping over 30% to a 12-year high as global interest swells for nuclear energy.
While this revival is driven by several factors, including dwindling supply and the ever-rising global demand for clean energy sources, Sprott Physical Uranium Trust’s (TSX:U.UN) (OTC:SRUUF) buying spree could be fueling the short squeeze taking place in the uranium market.
The world’s largest and only publicly-listed physical uranium fund has more than doubled its uranium supply in the last two years to nearly 62 million pounds and is showing no signs of slowing according to recent sentiments from the company’s CEO.
Earlier this week, Sprott Asset Management CEO John Ciampaglia said that this cycle feels more like a supply story than a demand story and because of that supply issue, he thinks this uranium bull market will last several more years.
He also noted that historical uranium cycles tend to go six to eight years due to the large capital expenditures involved with those types of projects.
The Sprott Uranium Miners UCITS ETF and other uranium-focused exchange-traded funds are also experiencing a major uptick thanks to the nuclear revival. The fund surged past $100 million in assets under management (AUM) less than 18 months after its launch and posted a 29.8% year-to-date return.
Analysts predict prices could hit $80 per pound by year-end and rising year-over-year for the next 10 to 20 years or until a viable alternative for large-scale, uninterrupted, low-carbon power emerges.
The supply and demand imbalance creates a promising opportunity for junior uranium exploration companies with large high-grade projects such as ATHA Energy (CSE:SASK) (OTCQB:SASKF) (FRA:X5U). With its considerable uranium exploration assets, ATHA Energy stands in a distinctive position in the nuclear industry’s promising future.
Unlocking the Largest Land Position in the High-Grade Athabasca Basin
ATHA Energy owns the largest exploration package in the Athabasca Basin, renowned as the world’s premier uranium basin, spanning an impressive 3.4 million acres. The company also possesses a 10% carried interest portfolio in claims operated by NexGen Energy and IsoEnergy Ltd.
ATHA Energy recently announced the outcomes of its comprehensive electromagnetic (EM) surveys conducted at its wholly-owned North Terra Project and North Pinnacle Project, both situated within Saskatchewan’s Athabasca Basin.
The 2023 exploration initiative, which includes 17 EM surveys being conducted across the Athabasca Basin, is divided into four distinct districts: North Rim District, East Rim District, West Rim District, and Cable Bay District. These encompass various active, historical, and evolving uranium mining regions within the Athabasca Basin. In August this year, ATHA initiated an unprecedented multi-platform EM survey across the Athabasca Basin to advance exploration and assess the potential of its extensive land holdings.
Using Axiom’s XciteTM Heli TDEM survey, ATHA effectively covered 7,166-line kilometers across the North Pinnacle and North Terra Projects in two blocks. Multiple conductors featuring cross-cutting structures were identified in both projects, indicating the possibility of uranium mineralization traps. A total of 20 kilometers of high-priority conductive lineaments have been pinpointed within these projects.
“These results are the beginning of what we anticipate to be a very active exploration period for ATHA as we kick off the initial stages of a systematic discovery process across our expansive exploration portfolio,” said Troy Boisjoli, CEO of ATHA. “The formation and strategic purpose of ATHA was to be a specific response to the fundamental strength of the uranium cycle we are currently experiencing, and our contention is that in order to provide the greatest probability of exploration success, we need to begin with a targeted exploration program in the highest-grade uranium basin in the world and at significant scale.”
These findings mark significant advancements in ATHA‘s exploration endeavors, underscoring the potential for valuable uranium discoveries within its extensive portfolio.
For more information about ATHA Energy Corp (CSE:SASK) (OTCQB:SASKF) (FRA:X5I) and the results from its large-scale electromagnetic survey program, click this link or visit their website.
Featured Image Shutterstock ⓒ RHJPhtotos
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6) This document contains forward-looking information and forward-looking statements, within the meaning of applicable Canadian securities legislation, (collectively, “forward-looking statements”), which reflect management’s expectations regarding ATHA Energy Corp.’s future growth, future business plans and opportunities, expected activities, and other statements about future events, results or performance. Wherever possible, words such as “predicts”, “projects”, “targets”, “plans”, “expects”, “does not expect”, “budget”, “scheduled”, “estimates”, “forecasts”, “anticipate” or “does not anticipate”, “believe”, “intend” and similar expressions or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved, or the negative or grammatical variation thereof or other variations thereof, or comparable terminology have been used to identify forward-looking statements. These forward-looking statements include, among other things, statements relating to: (a) revenue generating potential with respect toATHA Energy Corp.’s industry; (b) market opportunity; (c) ATHA Energy Corp.’s business plans and strategies; (d) services that ATHA Energy Corp. intends to offer; (e) BroadbandTV Corp.’s milestone projections and targets; (f) ATHA Energy Corp.’s expectations regarding receipt of approval for regulatory applications; (g) ATHA Energy Corp.’s intentions to expand into other jurisdictions including the timeline expectations relating to those expansion plans; and (h) ATHA Energy Corp.’s expectations with regarding its ability to deliver shareholder value. Forward-looking statements are not a guarantee of future performance and are based upon a number of estimates and assumptions of management in light of management’s experience and perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances, as of the date of this document including, without limitation, assumptions about: (a) the ability to raise any necessary additional capital on reasonable terms to execute ATHA Energy Corp.’s business plan; (b) that general business and economic conditions will not change in a material adverse manner; (c) ATHA Energy Corp.’s ability to procure equipment and operating supplies in sufficient quantities and on a timely basis; (d) the accuracy of budgeted costs and expenditures; (e) ATHA Energy Corp.’s ability to attract and retain skilled personnel; (f) political and regulatory stability; (g) the receipt of governmental, regulatory and third-party approvals, licenses and permits on favorable terms; (h) changes in applicable legislation; (i) stability in financial and capital markets; and (j) expectations regarding the level of disruption to as a result of CV-19. Such forward-looking information involves a variety of known and unknown risks, uncertainties and other factors which may cause the actual plans, intentions, activities, results, performance or achievements of ATHA Energy Corp. to be materially different from any future plans, intentions, activities, results, performance or achievements expressed or implied by such forward-looking statements. Such risks include, without limitation: (a) ATHA Energy Corp.’s operations could be adversely affected by possible future government legislation, policies and controls or by changes in applicable laws and regulations; (b) public health crises such as CV-19 may adversely impact ATHA Energy Corp.’s business; (c) the volatility of global capital markets; (d) political instability and changes to the regulations governing ATHA Energy Corp.’s business operations (e) ATHA Energy Corp. may be unable to implement its growth strategy; and (f) increased competition.
Except as required by law, ATHA Energy Corp. undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future event or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events. Neither does ATHA Energy Corp. nor any of its representatives make any representation or warranty, express or implied, as to the accuracy, sufficiency or completeness of the information in this document. Neither ATHA Energy Corp. nor any of its representatives shall have any liability whatsoever, under contract, tort, trust or otherwise, to you or any person resulting from the use of the information in this document by you or any of your representatives or for omissions from the information in this document.
7) Any graphs, tables or other information demonstrating the historical performance or current or historical attributes of ATHA Energy Corp. or any other entity contained in this document are intended only to illustrate historical performance or current or historical attributes of ATHA Energy Corp. or such entities and are not necessarily indicative of future performance of ATHA Energy Corp. or such entities.
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