In this InvestorIntel interview, Jack Lifton talks with Kraken Energy Corp.’s (CSE: UUSA | OTCQB: UUSAF) CEO and Director Matthew Schwab about how Kraken is reviving past producing uranium mines to set up domestic uranium production in the United States.

Speaking about Kraken’s high-calibre team with extensive uranium expertise, Matthew provides an update on their recent agreement to acquire up to 75% interest in the Harts Point Uranium Property in southeast Utah, USA.

Rather than seeking new discoveries, Matthew says that Kraken is looking to exploit resources with near-surface mineralization that were taken out of production due to the removal of incentives by the US government in the late 1950s and 1960s. Matthew believes that they can move these projects towards production in a shorter timeframe in the US than in other jurisdictions.

The interview also touches on the issue of the US’ dependence on foreign uranium, despite having a significant number of nuclear power reactors, and the need for domestic production.

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About Kraken Energy Corp.

Kraken Energy Corp. (CSE: UUSA | OTCQB: UUSAF) is a new energy company advancing its portfolio of high-grade uranium properties in the United States. The Company is advancing its 100%-owned Apex Uranium Property, located 280 km (174 miles) east of Reno, Nevada which is recognized as Nevada’s largest past-producing uranium mine. The Company has additionally entered into an option agreement to earn 100% of the Garfield Hills Uranium Property. The past-producing Garfield Hills Uranium Property covers 1,238 ha (3,060 acres) and is located 19 km (12 miles) east of Hawthorne in Mineral County, Nevada. The Company has also recently staked the Huber Hills Uranium Property, located 136 km (85 miles) north of Elko, Nevada which covers 1,044 ha (2,580 acres) and encompasses the historic Race Track open pit mine.

To learn more about Kraken Energy Corp., click here

Disclaimer: Kraken Energy Corp. is an advertorial member of InvestorIntel Corp.

This interview, which was produced by InvestorIntel Corp., (IIC), does not contain, nor does it purport to contain, a summary of all the material information concerning the “Company” being interviewed. IIC offers no representations or warranties that any of the information contained in this interview is accurate or complete.

This presentation may contain “forward-looking statements” within the meaning of applicable Canadian securities legislation. Forward-looking statements are based on the opinions and assumptions of the management of the Company as of the date made. They are inherently susceptible to uncertainty and other factors that could cause actual events/results to differ materially from these forward-looking statements. Additional risks and uncertainties, including those that the Company does not know about now or that it currently deems immaterial, may also adversely affect the Company’s business or any investment therein.

Any projections given are principally intended for use as objectives and are not intended, and should not be taken, as assurances that the projected results will be obtained by the Company. The assumptions used may not prove to be accurate and a potential decline in the Company’s financial condition or results of operations may negatively impact the value of its securities. Prospective investors are urged to review the Company’s profile on Sedar.com and to carry out independent investigations in order to determine their interest in investing in the Company.

If you have any questions surrounding the content of this interview, please contact us at +1 416 792 8228 and/or email us direct at [email protected].

One of the more famous movie quotes of all time comes from the movie “Jerry McGuire” (played by Tom Cruise). The scene has athlete Rod Tidwell (Cuba Gooding, Jr.) not being thrilled with Jerry’s performance as his agent, and he wants Jerry to convince him to stay on as a client. He has a simple way for Jerry to convince him to stay: “Show me the money!” Without getting further into the details, it’s a pretty funny scene if you haven’t watched it. However, it culminates with Jerry yelling “Show me the money!” and he manages to retain his client. After all, it’s all about the money.

Where am I going with this? It may be a bit of a reach, but to me, the two most recent press releases from Energy Fuels Inc. (NYSE American: UUUU | TSX: EFR) are screaming “Show me the money”. As a refresher, Energy Fuels is a leading U.S. based uranium mining company, supplying U3O8 to major nuclear utilities. The Company also produces vanadium from certain of its projects, as market conditions warrant, and is ramping up to full commercial-scale production of Rare Earth (RE) Carbonate. The Company’s flagship White Mesa Mill is the only conventional uranium mill operating in the U.S. today, with a licensed capacity of over 8 million pounds of U3O8 per year, and has the ability to produce RE Carbonate from various uranium-bearing ores. All its assets and employees are in the United States.

The first news I’m referring to is Energy Fuels Q3 results, reported on Nov 4^th, where a key takeaway was the US$122.3 million of working capital, including US$88.7 million of cash and cash equivalents and marketable securities and US$27.3 million of inventory, including approximately 692,000 pounds of uranium and 987,000 pounds of high-purity vanadium, both in the form of immediately marketable products. Based on current spot prices, the Company’s uranium and vanadium inventories have a current market value of US$44.0 million. Other important facts include that Energy Fuels has recently secured three long-term uranium contracts with major U.S. utilities for a base quantity of 3.0 million pounds of total U3O8 deliveries over next 8 years (starting in 2023), and up to a total of 4.2 million pounds of deliveries, if all options are exercised. Additionally, during the nine months ended September 30, 2022, the White Mesa Mill produced approximately 205 tonnes of partially separated RE Carbonate, containing approximately 95 tonnes of high-value partially separated TREO.

This tells me that there is plenty of cash to grow the business today, as well as at least two diverse revenue streams evolving. The long-term uranium sales contracts with major U.S. nuclear utilities will see sales, and sales revenues, beginning in 2023. Plus Energy Fuels continues to make progress on rare earth elements with the announcement that they plan to install a commercial-scale “light” rare earth separation circuit within the existing footprint of the White Mesa Mill in Utah that is expected to be operational in the next 12 – 18 months. No other company in the U.S. can do the things Energy Fuels does with ‘one-of-a-kind’ competencies that are critical to uranium, rare earth elements, medical isotopes, and vanadium markets. The Company has the ability to process feedstocks that are naturally radioactive and recover critical materials needed for the clean energy transition.

And if that wasn’t enough, Energy Fuels showed us even more money on November 14^th with the announcement that it has entered into a definitive agreement to sell three wholly-owned subsidiaries that together hold Energy Fuels’ Alta Mesa ISR Project to enCore Energy for total consideration of US$120 million. The transaction is significant for the Company, as the cash received is expected to fully finance much of the Company’s uranium, REE, vanadium and medical isotope business plans for the next two to three years without diluting shareholders. For those keeping score Energy Fuels acquired Alta Mesa in 2016 for approximately US$13.6 million of shares, and currently carries this project on its balance sheet at US$8.2 million, so the deal represents an exceptional return on investment.

With the enCore deal expected to close by year-end or early 2023, Energy Fuels will be sitting on a war chest of roughly US$240 million. Having already signed long-term contracts for a minimum of 3.0 million pounds of U3O8 starting in 2023, the Company can ramp-up uranium production at one or more of the White Mesa Mill, the Nichols Ranch ISR Project, the Pinyon Plain mine, the La Sal Complex, and/or the Whirlwind mine which total up to 2 million pounds of U3O8 per year of near-term production capacity. Energy Fuels is also looking to establish an ore purchasing program to secure additional feed to the White Mesa Mill, as uranium mining picks up, thereby maximizing the facility’s existing 8 million pounds per year of licensed uranium production capacity. On the Rare Earth front the Company can finance the construction of RE separation infrastructure at the White Mesa Mill, including expected capacity to produce approximately 2,500 – 5,000 tonnes per year TREO capacity, including 500 – 1,000 tonnes per year of NdPr oxide or oxalate by the end of 2023 or early 2024. I have to admit that until now I’ve been a Cameco or bust investor when it comes to uranium. However, with the change in world dynamics (primarily Putin’s senseless/vindictive action in Ukraine) and the emergence of Energy Fuels rare earth business to complement their uranium business, I’m beginning to second guess my views.

In this InvestorIntel interview host Jack Lifton talks to Ur-Energy Inc.‘s (NYSE American: URG | TSX: URE) Chairman, CEO & President John Cash about the recent positive news for uranium producers and the coming renaissance of nuclear energy.

In the interview, which can also be viewed in full on the InvestorIntel YouTube channel (click here to access InvestorChannel.com), John tells Jack that “so much good news has come out in the last just two or three weeks,” starting with the Inflation Reduction Act, which includes “a number of provisions within that act that really provide a lot of support for our existing reactors in the U.S. and also new builds going forward.” John goes on to say that “everyone was assuming that a number of reactors in the U.S. would be shutting down over the next 20 years, but I don’t think that’s the case anymore,” and “that means that they’ll be buying more uranium. There will be more demand on the front end of the fuel cycle and throughout the fuel cycle to keep those reactors up and running.”

John also talks about the increasing reliance on nuclear fuel as a green, carbon neutral source of energy, with reactors being restarted and new builds underway, including China’s ongoing build program of 150 new reactors. He also talks about the future of small modular reactors, with the expectation in the industry that as many as 300 new small modular reactors will be built by 2050 to meet domestic energy needs. John tells Jack that this renewed interest in nuclear energy will substantially increase demand for uranium, particularly from producers in stable, friendly jurisdictions.

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About Ur-Energy Inc.

Ur-Energy is a uranium mining company operating the Lost Creek in-situ recovery uranium facility in south-central Wyoming. We have produced, packaged, and shipped approximately 2.6 million pounds U₃O₈ from Lost Creek since the commencement of operations. Ur-Energy has all major permits and authorizations to begin construction at Shirley Basin, the Company’s second in situ recovery uranium facility in Wyoming and is in the process of obtaining remaining amendments to Lost Creek authorizations for expansion of Lost Creek. Ur‑Energy is engaged in uranium recovery and processing activities, including the acquisition, exploration, development, and operation of uranium mineral properties in the United States. The primary trading market for Ur‑Energy’s common shares is on the NYSE American under the symbol “URG.” Ur‑Energy’s common shares also trade on the Toronto Stock Exchange under the symbol “URE.” Ur-Energy’s corporate office is located in Littleton, Colorado and its registered office is located in Ottawa, Ontario.

To know more about Ur-Energy Inc., click here

Disclaimer: Ur-Energy Inc. is an advertorial member of InvestorIntel Corp.

This interview, which was produced by InvestorIntel Corp., (IIC), does not contain, nor does it purport to contain, a summary of all the material information concerning the “Company” being interviewed. IIC offers no representations or warranties that any of the information contained in this interview is accurate or complete.

This presentation may contain “forward-looking statements” within the meaning of applicable Canadian securities legislation. Forward-looking statements are based on the opinions and assumptions of the management of the Company as of the date made. They are inherently susceptible to uncertainty and other factors that could cause actual events/results to differ materially from these forward-looking statements. Additional risks and uncertainties, including those that the Company does not know about now or that it currently deems immaterial, may also adversely affect the Company’s business or any investment therein.

Any projections given are principally intended for use as objectives and are not intended, and should not be taken, as assurances that the projected results will be obtained by the Company. The assumptions used may not prove to be accurate and a potential decline in the Company’s financial condition or results of operations may negatively impact the value of its securities. Prospective investors are urged to review the Company’s profile on Sedar.com and to carry out independent investigations in order to determine their interest in investing in the Company.

If you have any questions surrounding the content of this interview, please contact us at +1 416 792 8228 and/or email us direct at [email protected].