Uranium Miners to Watch
- Pegasus Resources Inc.
(TSXV: $PEGA.V) (OTCPink: SLTFF) Western Uranium & Vanadium (CSE: $WUC.CN)
Ur-Energy Inc. (NYSE: $URG) Anfield Energy (TSX.V: $AEC.V)
The Big Picture Just Keeps Getting Better for
Uranium Stocks
July 18, 2024
- Investorideas.com, a global investor news source covering
mining and metals stocks releases a snapshot looking at the future of uranium
mining and exploration, featuring Pegasus Resources Inc. (TSXV:PEGA) (OTC Pink:SLTFF) (Frankfurt:0QS0), a diversified Junior Canadian Mineral
Exploration Company with a focus on uranium, gold, and base metal properties in
North America.
The World Nuclear Association recently reported on the sector noting, “Looking ten years
ahead, the market is expected to grow. The Reference Scenario of the 2023
edition of the World Nuclear Association's Nuclear Fuel Report shows a 28%
increase in uranium demand over 2023-30 (for an 18% increase in reactor
capacity – many new cores will be required). Demand thereafter will depend on
new plants being built and the rate at which older plants are retired – the
Reference Scenario of the 2023 Nuclear Fuel Report has a 51% increase in uranium
demand for the decade 2031-2040. Licensing of plant lifetime extensions and the
economic attractiveness of continued operation of older reactors are critical
factors in the medium-term uranium market. However, with electricity demand by
2040 potentially increasing by about 50% from that of 2022 (based on the
International Energy Agency's World Energy Outlook 2023 report), there is
plenty of scope for growth in nuclear capacity in a world concerned with
limiting carbon emissions.”
Pegasus Resources Inc. (TSXV:PEGA) (OTC Pink:SLTFF) (Frankfurt:0QS0) released an update to shareholders and investors on July 12th,
saying they are “excited to enter the
third quarter of 2024 with significant developments in our exploration
initiatives, particularly with the recent acquisition of the Jupiter Project
and ongoing activities at our established Energy Sands project. As we advance
these projects, we are positioned to significantly enhance shareholder value
through strategic exploration and development.”
Paid news dissemination
for Pegasus Resources
Read this article, featuring PEGA in full at https://www.investorideas.com/news/2024/mining/07181Uranium-Miners.asp
More from the news: "We are entering an exciting phase of
exploration with the recent acquisition of the Jupiter Project and the work
completed on the Energy Sands projects," stated Christian Timmins, CEO,
"The strategic integration of these projects allows us to leverage
extensive historical data and modern geological techniques to maximize our
exploration potential. Our dedicated team is focused on advancing these
projects rapidly, aiming to enhance our understanding of the mineral resources
and expand our operational scope. With our upcoming drill program set to
commence this summer, we are confident in our ability to deliver substantial
value to our shareholders and reinforce Pegasus Resources' position as a leader
in the uranium sector."
Continued: The year commenced with a successful ground
sampling program at Energy Sands in Utah in January 2024. The significant
results, announced on March 25, 2024, indicated a favourable environment for uranium
mineralization. Following this, we added to our geological understanding by
acquiring historical drilling data of the area, which further defined the
area's potential. As detailed in our June 04, 2024 news release, analysis
conducted by Dahrouge Geological Consulting USA Ltd. identified a trend
indicative of paleochannel-hosted mineralization. This significant discovery,
aligning with structural measurements and the identified mineralization trends,
aids in targeting potential mineral-hosting paleochannels across the property.
We have initiated the permitting process and have submitted all necessary
documents to launch a summer drilling program.
Continued: Adding to our portfolio, the recent
acquisition of the Jupiter Project (July 10, 2024), located 3 km north of
Energy Sands, marks a pivotal expansion. Jupiter, boasting over 100 historical
drill holes, is an exciting project that uniquely positions Pegasus to expedite
the development of a uranium resource estimate. This strategic proximity to Energy
Sands and Jupiter provides a significant opportunity for us to use the
available historical drill logs and future company drilling programs to better
understand the uranium mineralization in the area while looking to find the
next discovery. The strategic significance of this acquisition is immense, and
we are poised to begin work at Jupiter once we have secured the required
permits and funding, and completed the tendering process to acquire the
necessary equipment and crews for a summer drilling program, with expectations
set on rapidly advancing our exploration and resource development objectives at
Jupiter.
As we progress through 2024, Pegasus Resources is actively advancing
our exploration initiatives at both the Jupiter Project and Energy Sands, leveraging
historical data and recent geological studies to guide resource development.
Continued: Jupiter Project: Our exploration approach at
the Jupiter Project is comprehensive, involving the twinning of historical
drill holes, detailed logging of old drill holes, and the identification of new
drill targets. These efforts are crucial not only for expanding the known
resource base but also for discovering new mineralization zones. We are
developing a robust geological model for the Jupiter Project that will
substantially enhance our resource development plans. Utilizing extensive
historical drilling data, our goal is to refine our exploration strategies and
produce a resource estimate that meets the current CIM Definition Standards on
Mineral Resources and Mineral Reserves. The wealth of historical data available
underscores the considerable potential for uranium mineralization, laying a
strong foundation for our ongoing exploration efforts.
Energy Sands: Following a successful ground program in January 2024,
which involved a detailed review of historical drill logs, we have moved
forward with securing the necessary drilling permits for the Energy Sands
project. Once permits are in place, our next steps include initiating the
tendering process to source the essential equipment and skilled crews required
for a comprehensive summer drilling program. This upcoming program is designed
to build upon the insights gained from recent mapping conducted by Dahrouge
Geological Consulting USA Ltd. Our focus will be on targeting and further
investigating potential mineral-hosting paleochannels that have been identified
across the property, aiming to delineate and expand these mineralized zones.
Integrated Exploration Strategy: By synchronizing our exploration
strategies at both Jupiter and Energy Sands, Pegasus Resources is effectively
harnessing synergies between the two projects. This integrated approach not
only streamlines our operational efforts but also enhances our ability to
quickly adapt and respond to geological findings as they emerge. The proximity
of Jupiter to Energy Sands offers unique opportunities for operational
efficiencies and resource sharing, ensuring that our exploration programs are
both cost-effective and strategically aligned.
These combined efforts at Jupiter and Energy Sands underscore our
commitment to advancing these projects toward their full potential, with the
aim of significantly enhancing shareholder value through the discovery and
development of valuable uranium resources. As we continue to progress with our
drilling and exploration programs, Pegasus Resources remains dedicated to
upholding the highest standards of resource estimation and sustainable mining
practices.
Pine Channel: Located on the north side of the Athabasca Basin, Pine
Channel is slated for a gravity survey this summer. This survey will enhance
our understanding of the property and refine targets for future drilling
operations. The gravity survey will play a crucial role in our strategic
exploration efforts.
Continued: As we continue to advance our strategic
projects, Pegasus Resources is uniquely positioned in the uranium sector to
capitalize on both established and emerging opportunities. Our recent
agreements and exploration advancements underscore our commitment to leading
the industry in discovery and resource development.
Pegasus Resources Inc property map (TSXV:PEGA)
Western Uranium & Vanadium Corp. (CSE: WUC.CN) just updated shareholders in May , reporting “Western continues to ramp up operations
to achieve its annualized production target of 1 million pounds of uranium and
6 million pounds of vanadium. Participation in the aforementioned buying
program should not hinder the development of an adequate uranium feedstock
supply for the Maverick Minerals Processing Plant. Precision Systems
Engineering (PSE) is targeting to release the preliminary engineering design
and cost estimate in June.”
More from the news: At the beginning of 2024 Western expanded
the Sunday Mine Complex mining operations by deploying two alternating mining
crews and two alternating drilling teams who operate seven days a week.
Following the expansion of infrastructure deeper into the West Sunday Mine, the
mining teams commenced driving a drift approximately 2,700 feet to the Leonard
& Clark deposit. So far, the teams have drifted approximately 317 feet and
are now deploying a jumbo drill to increase progress. The drilling teams
continue to define additional mining areas utilizing underground horizontal
drilling. Between January 25th and March 31st, the team has drilled a total of
8,170 linear feet with 43 long hole drill targets at three separate areas of
the GMG deposit.
Anfield Energy Inc. (TSX.V: AEC) (OTCQB: ANLDF) (FRANKFURT: 0AD), a uranium and vanadium development and
near-term production company, recently announced that it has received final approvals for its
drill permit application to commence a 20-hole, 20,000-foot rotary drill
program at its Slick Rock uranium and vanadium project, located in San Miguel
County, Colorado. Permits approvals included the Bureau of Land Management, the
Colorado Division of Resources Mining and Safety, and a Special Use Permit from
San Miguel County, Colorado to allow access via county roads for the drilling
project. The permits allow drilling between the months of June and September.
Anfield will use local contractors to complete the drilling.
From the news: Anfield expects to commence the drill program
in the third quarter of 2024. This is a crucial step in Anfield’s plan to
secure a large mine permit for Slick Rock as the Company looks towards future
uranium and vanadium production.
Continued: Corey Dias, Anfield’s CEO commented: “We are
very pleased to commence development at Slick Rock as this project is integral
to our hub-and-spoke uranium and vanadium production strategy. The 20-hole
drill program, which will start during the third quarter of 2024, will allow us
to both verify and upgrade our known resource at site and meet the criteria to
secure a large mine permit from the appropriate agency. Our aim is to have both
the Slick Rock and Velvet-Wood mines ready for production ahead of the restart
of the Shootaring Canyon mill, with initial feed ready for transport once the
mill is ready to receive it.”
Ur-Energy Inc. (NYSE:URG) (TSX:URE), a well-known, more senior uranium mining company operating the Lost
Creek in-situ recovery uranium facility in south-central Wyoming, reported its
financial results in May saying, “Ramp-up continues at Lost Creek, with two
additional header houses (HHs 2-6 and 2-7) coming online thus far in 2024.
During Q1, we captured approximately 38,221 pounds, dried and packaged 39,229
pounds, and shipped 35,445 pounds U3O8. At quarter end, our in-process
inventory was approximately 80,465 pounds, our drummed inventory was 26,062
pounds, and our finished inventory at the conversion facility was 79,235 pounds
U3O8.”
From junior uranium exploration stocks to more established miners, the
uranium sector is heating up for investors and one to watch for both short and
long term. As
Nuclear Engineering reported, ”Global uranium prices, which almost doubled in
2023, have continued the trend with further price rises this year.”
Research more uranium and mining stocks at Investorideas.com https://www.investorideas.com/Gold_Stocks/Stocks_List.asp
About Investorideas.com
Investorideas.com is the go-to platform for big
investing ideas. From breaking stock news to top-rated investing podcasts, we
cover it all. Our original branded content includes podcasts such as Exploring
Mining, Cleantech, Crypto Corner, Cannabis News, and the AI Eye. We also create
free investor stock directories for sectors including mining, crypto, renewable
energy, gaming, biotech, tech, sports and more.
Disclaimer/Disclosure: This article featuring Pegasus Resources Inc.is a paid for service on Investorideas.com,
as a featured mining stock. Our site does not make
recommendations for purchases or sale of stocks, services or products. Nothing
on our sites should be construed as an offer or solicitation to buy or sell
products or securities. All investing involves risk and possible losses. This
site is currently compensated for news publication and distribution, social
media and marketing, content creation and more.. More disclaimer info: https://www.investorideas.com/About/Disclaimer.asp Learn more about publishing your news
release and our other news services on the Investorideas.com newswire https://www.investorideas.com/News-Upload/
Global investors must adhere to regulations of each country.
Investorideas.com privacy policy: https://www.investorideas.com/About/Private_Policy.asp
Follow us on X @investorideas @Exploringmining
Follow us on Facebook https://www.facebook.com/Investorideas
Follow us on YouTube https://www.youtube.com/c/Investorideas
Contact Investorideas.com
800-665-0411
Get more mining stock investor ideas- news, articles, and podcasts and stock directories
