PALM BEACH, FL, March 1, 2022 /PRNewswire/ -- FinancialNewsMedia.com News Commentary - Heightened demand and worldwide political unrest should increase the price of uranium in 2022 reports say. One report from Street Wise Reports projected that political unrest in Kazakhstan and a buildup of stockpiles is leading to tightened demand and opportunities for growth in uranium in 2022. It said: "The new year offers new opportunities for investors in the uranium market, as political unrest in top-producing Kazakhstan promises to tighten demand on the industry." In a recent industry report by Haywood Securities, analysts said the problems in Kazakhstan, plus a buildup of uranium inventory by the Sprott Physical Uranium Trust, could reignite the metal's spot prices near-term and accelerate a permanent shift toward higher prices. "We maintain a long-term bullish thesis on uranium demand/supply and commodity price and believe this short-term setup could rapidly transform into a mid-term accelerant and market tightening mechanism if there is any production impact in Kazakhstan," Haywood analysts said in the report. Active companies in the markets today include:BASIN URANIUM CORP. (OTCPK: BURCF) (CSE: NCLR), Denison Mines Corp. (NYSE: DNN) (TSX: DML), Uranium Energy Corp. (NYSE: UEC), Energy Fuels Inc. (NYSE: UUUU) (TSX: EFR), Cameco (TSX: CCO) (NYSE: CCJ).
The Street Wise report continued: "Uranium from mining is used primarily as fuel for nuclear fission in power plants, but it is also used in the medicine, food production, and space industries. There are currently about 440 nuclear reactors operating worldwide, according to the World Nuclear Association. In 2020, they provided about 10% of the world's electricity. About 55 additional plants are being built at a time when conventional coal-fired generation of electricity is simultaneously shrinking. Most uranium collection is volume-intensive and done through open pit mining. After Kazakhstan, Australia and Canada are the other top-producing countries at 13% and 8%, respectively, according to a report by Kitco Metals Inc."
BASIN URANIUM CORP. (CSE: NCLR.CN) (OTCPK: BURCF) BREAKING NEWS: BASIN URANIUM TO PRESENT AT RED CLOUD'S VERY PRE-PDAC MINING SHOWCASE - BASIN URANIUM CORP. ("Basin Uranium" or the "Company") is pleased to announce the Company will be presenting at Red Cloud's Very Pre-PDAC Mining Showcase on Wednesday March 2, 2022 at 1:40 pm EST. The Company will be discussing its recent corporate developments and its exploration plans for 2022.
Shareholders and investors are encouraged to register for the presentation at https://www.redcloudfs.com/prepdac2022/.
About Red Cloud - Red Cloud Financial Services provides a unique tailored marketing program dedicated to reaching the right people from its mining-focused global network, giving clients access to industry leading events and conferences, retail and institutional marketing, plus an in house growth-driven digital agency.
About Basin Uranium Corp. - Basin Uranium Corp. is a Canadian junior exploration company focused diversified mineral resources. The Company recently acquired an option to acquire a 75% interest in the Mann Lake uranium project, located in the Athabasca basin in Northern Saskatchewan, Canada, and is also currently undertaking the CHG gold exploration project located approximately 15 kilometers northwest of the town of Clinton in south-central British Columbia. The CHG Project consists of seven contiguous mineral claims covering 3,606 hectares. CONTINUED…Read the BASIN URANIUM full press release by going to: https://basinuranium.ca/news/
In other news and developments of note in the markets this week:
Cameco (TSX: CCO) (NYSE: CCJ) recently reported its consolidated financial and operating results for the fourth quarter and year ended December 31, 2021 in accordance with International Financial Reporting Standards (IFRS).
"Our results reflect the very deliberate execution of our strategy of full-cycle value capture. We have been undertaking work to ensure we have operational flexibility, we are aligning our production decisions with the market fundamentals and our contracting portfolio, and we have been financially disciplined. Since 2016, with our planned and unplanned production cuts, inventory reduction and market purchases, we have removed more than 190 million pounds of uranium from the market, which we believe has contributed to the security of supply concerns in our industry," said Tim Gitzel, Cameco's president and CEO.
Uranium Energy Corp (NYSE: UEC) recently provided the following letter to its shareholders on the outlook for the Company in 2022 from President and CEO, Amir Adnani.
"Dear Shareholder, 2022 begins with the highest uranium price in a decade and a positive global outlook for nuclear energy not seen in a generation. For UEC, we have begun 2022 positioned as the leading American uranium mining company. This follows our $112 million cash acquisition of Uranium One Americas that has endowed us with two operational hub and spoke production platforms and seven licensed and low cost In-Situ-Recovery ("ISR") uranium projects. Earlier this month, we reached another important milestone, becoming debt free, and also reporting a strong balance sheet of approximately $125 million of cash and liquid assets. These positive industry and corporate developments have been years in the making and, whether you are a new or long-term shareholder, your ownership of UEC is sincerely valued and I thank you on behalf of our team and our Board of Directors."
Consolidated Uranium Inc. (TSXV: CUR) (OTCQB: CURUF), recently provided an update on the previously announced proposed spin-out of Labrador Uranium Inc. ("Labrador Uranium" or "LUR") through a plan of arrangement under the Business Corporations Act (Ontario) (the "Arrangement"). LUR is currently a majority-controlled subsidiary of CUR focused on the consolidation, exploration and development of uranium projects in Labrador.
Most recently, the Company completed a transformational strategic acquisition and alliance with Energy Fuels Inc (NYSE American: UUUU) (TSX: EFR), a leading U.S.-based uranium mining company, and acquired a portfolio of permitted, past-producing conventional uranium and vanadium mines in Utah and Colorado.
Denison Mines Corp. (TSX: DML) (NYSE American: DNN) recently announced multiple intersections of high-grade uranium mineralization beyond the previously defined extents of the high-grade domain in the Phase 1 area of the Zone A portion of the Phoenix uranium deposit ("Phoenix") at the Company's effective 95%-owned Wheeler River Uranium Project ("Wheeler River" or the "Project") in northern Saskatchewan. View PDF version.
Three drill holes were completed during the fall of 2021 to follow up the discovery of high-grade uranium mineralization (22.0% eU3O8over 8.6 metres) in drill hole GWR-045, which was located outside of the previously defined extent of the high-grade domain of Phoenix Zone A (see Denison's news release dated July 29, 2021). All three follow-up holes returned intervals of high-grade uranium mineralization, including massive uraninite mineralization in GWR-049.
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