Eyes on a near-term producer of uranium and vanadium in the United States

Western Uranium Corporation (CSE: WUC | OTCQX: WSTRF) is a Colorado based uranium and vanadium conventional mining company focused on low-cost, near-term production of uranium and vanadium in the western United States.

Nuclear reactors are being built throughout the world, especially in China, India, Russia, even a few in the United States. So additional consumption of uranium will come. Certainly most analysts say by 2020, there is going to be a fairly significant shortage of uranium, and when you have shortage of a commodity, prices go up.

In August 2014, Western Uranium acquired uranium and vanadium mineral assets in western Colorado and eastern Utah from Energy Fuels Inc., and in September 2015 they acquired additional uranium properties and ablation technology through the acquisition of Black Range Minerals Limited. The operational head office is located in Nucla, Colorado.

The company has a total uranium resource 70,000,000 lbs, and is the second largest holder of vanadium resources in the US with a total of 35,000,000 lbs grading between 1.4-2%.

The Sage Mine project is located in San Juan County, Utah, and San Miguel County, Colorado. It consists of 94 unpatented claims covering approximately 1,942 acres. A technical report on the Sage Mine Project provided historic resource estimates of about 4.8 million pounds of vanadium at an average grade of 1.72% and about 580,000 pounds of uranium at an average grade of 0.21%; an approximately 8:1 ratio of vanadium to uranium.

George Glasier, President, CEO and Director of Western Uranium talks about a new technology that reduces the cost of recovering uranium. “Our main focus at Western Uranium is of course uranium. It’s in the name. We are focusing on the western United States where all of our resources are held, we’re focusing on near-term production, and on being in production in the next year or two. Our company has the second largest resource in the United States approximately 70 million pounds comprised of a number of properties, but we also have seven permitted uranium mines that had been past producers that could go into production very quickly”. CEO Glasier states: The new technology is called ablation technology, of which some people have compared to fracking”.

In December 2015, Western Uranium entered into a Uranium Concentrates Supply Agreement with a Top 3 U.S. Energy Utility for uranium delivery commencing in 2018. (Terms are confidential).

On June 8, 2018, the Company announced that it has signed a Letter Agreement with Battery Mineral Resource Nevada Inc. to form a joint venture for vanadium development at the Sage Mine Project. Vanadium grades in excess of 1.50% at the Sage Mine represent some of the highest in the world. Notably, the Sage Mine Project represents one of seven permitted and previously producing property/mines in the Western Uranium’s portfolio.

Western Uranium is increasingly focused on monetizing its vanadium rich resources as vanadium prices have rallied over the past year.

A name change proposal has been placed on the Proxy for shareholder consideration at the Annual General and Special Meeting of Shareholders to be held on June 29, 2018. The Company has proposed the name change to Western Uranium & Vanadium Corp. The company has a market cap of C$ 21.266 m.

With the global vanadium market facing a supply deficit and with the value of uranium expected to go no-where but up, Western Uranium Corporation (soon to be Western Uranium & Vanadium Corp.), is poised to take advantage by having a large high grade uranium resource in the United States, as well as the second largest vanadium resource. Western Uranium is a near-term producer of uranium and vanadium, meaning investors can have two chances at success for the price of one.

Western Uranium’s patented technology making both uranium and vanadium production more cost effective

“A patented technology that basically reduces the overall cost of producing uranium and vanadium, removing the case or any mineral that coats a sand grain, secondary mineral deposit. It’s a pretty simple process…” – George Glasier on Western Uranium’s patented ablation

George Glasier, President, CEO and Director of Western Uranium Corp. (CSE: WUC | OTCQX: WSTRF), in an interview with InvestorIntel CEO Tracy Weslosky, discuss Western Uranium’s patented ablation technology. This technology, which will reduce the production cost for both the uranium and vanadium at Western Uranium is also, as George points out – licensable to the global market. Ready to produce as the market rebounds, Tracy and George discuss the overall market demand, supply and prices for the uranium market and issues around sustainability as Western Uranium’s properties are located in North America — Utah and Colorado, USA… to access the complete interview, click here

Disclaimer: Western Uranium Corp. is an advertorial member of InvestorIntel Corp.