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The Kraken Uranium Strategy is On

Kraken Energy is building a portfolio of 5-10 uranium projects in tier one locations in the USA

Kraken Energy Corp. (CSE: UUSA | OTCQB: UUSAF) (“Kraken”) is focused on growing and advancing its portfolio of uranium properties in the United States. Kraken owns 4 uranium projects in Nevada and Utah. The concept is to develop a hub and spoke model with several uranium mines feeding a central mill.

Kraken’s 4 uranium projects in the USA are:

  • Apex Uranium Property (100% owned) (Nevada)
  • Garfield Hills Uranium Property (option to acquire 100%) (Nevada)
  • Huber Hills Property (100% owned) (Nevada)
  • Harts Point Uranium Property (option agreement to earn 75%) (Utah)

Note: Kraken’s Apex Uranium Property contains the Apex Uranium Mine, Nevada’s largest past-producing uranium mine. For details on the above first 3 Nevada projects you can read our past article here and on the newly acquired Utah project you can read our article here.

Kraken’s strategy to develop a new US domestic source of uranium

Kraken’s strategy is to rapidly assemble and develop a portfolio of 5-10 uranium projects in the USA, each with potential deposits of 10 to 50 million tonnes of uranium. Ideal targets are those projects with past producing uranium mines or a historical uranium resource and ideally valuable by-products. Projects need to be in Tier 1 mining jurisdictions and have access to infrastructure and year round access.

Thereafter the goal is to rapidly bring these properties to a Pre-Feasibility or Feasibility Stage and ultimately establish a sustainable ‘hub and spoke’ mining model. Kraken’s strategy is to focus on states in the US that have a strong uranium mining history where there is a willingness to get projects to production. So far Kraken’s projects are in Nevada and Utah, but they are also looking at Wyoming, Colorado, and New Mexico. Many of these regions have a history of uranium projects dating back to the 1950’s and 1960’s that have largely been forgotten.

Kraken’s vision to build a U.S-based uranium hub and spoke model to service domestic energy demand

Source: Kraken company presentation

Kraken’s latest news

As announced on July 5, 2023, Kraken has received permits to drill the Harts Point Uranium Property in Utah. Kraken state that the drilling

is expected to begin in early July. Phase I of the drill program includes an initial 2,000 meters (m) of drilling to twin the three historical holes which span 5 kilometers (“km”) of strike that returned off-scale radioactivity from downhole probe readings.

High radioactive readings are potentially a good indicator of uranium.

Kraken CEO, Matthew Schwab comments:

“The Harts Point Property is within a district that has had significant historical uranium production, and the Property itself contains three historic oil and gas drill holes across a 5 km strike that returned intervals of off-scale radioactivity within the same geologic unit that has been historically mined in the district. These attributes along with others represent exceptional exploration potential to discover a trend of high-grade uranium deposits located within a pro-mining jurisdiction.….”

As announced on June 6, 2023, Kraken reported geochemical assay results from its maiden drilling program at the Garfield Hills Uranium Property. The results were solid with Kraken stating:

Of the 11 completed holes, 7 holes encountered shallow, flat lying uranium mineralization, highlighted by hole GH22-01 which intersected a broad 12.5 m interval of 0.036% U3O8 starting from a depth of 23.0 m, and hole GH23-04 which returned 7.0 m of 0.029% U3O8 from 17.5 m.

The drill results were spread over an area of flat lying uranium mineralization covering 400m by 900m.

Also positive was that additional surface soil sampling along 4 km of strike returned high-grade chemical assay results of over 1.0% U3O8. This suggests it is possible that the uranium mineralization is spread over a much larger area and warrants further drilling.

Closing remarks

Kraken Energy is really ‘cracking along’. Kraken has now acquired 4 USA based uranium projects and intends to grow this to 5-10 projects with a goal to rebuild the US domestic uranium supply chain. Kraken’s strategy is a simple and cost effective way of building a potential significant future uranium production company. At the current pace, investors should not have to wait too long for more potentially good news on their progress. Drill results at the Harts Point Uranium Property will be eagerly awaited.

Kraken Energy trades with a market cap of C$15 million with C$6.5 million cash on hand as of July 2023.




Eye on the price of uranium, Cameco brings crown jewel back into production and Ur-Energy is set to go.

Uranium stocks were buoyed today by solid earnings out of the Godfather of North American uranium producers – Cameco Corp. (TSX: CCO | NYSE: CCJ). On the surface, higher realized uranium prices more than offset higher costs leading to Cameco beating estimates and setting a bullish tone for the whole sector. However, a deeper dive into those results suggests things may not bode well for the rest of the world’s producers going forward as this juggernaut is cranking up their McArthur River mine and Key Lake mill with a target of 15 million pounds per year of production by 2024 (versus zero at present). That represents roughly 14% of 2021 global uranium production. I recognize Cameco knows how to play the game, and that between them and Kazatomprom they probably have a stronger hold on uranium than OPEC has on oil, so my guess is it’s unlikely uranium prices will tank moving forward. Nevertheless, I would suggest caution when forecasting how high uranium prices could go, even if the relationship between Russia and its allies worsens with the rest of the world.

Now don’t get me wrong, I’m not forecasting doom and gloom for all other uranium producers, in fact, I would suggest it’s the opposite. If Cameco is optimistic enough to bring one of their crown jewels back into active operation, then they obviously believe that uranium pricing in the US$45-US$55/lb range is sustainable. Thus, as long as a producer can make a decent return at that pricing level then all should be good.

So, let’s turn our focus to one of the lowest-cost producers of uranium in North America, Ur-Energy Inc. (NYSE American: URG | TSX: URE). This uranium mining company operates the Lost Creek in-situ uranium facility in south-central Wyoming. Ur-Energy now 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.

Similar to Cameco, in Q4, 2021 Ur-Energy initiated an advance development program at Lost Creek designed to significantly improve the ability to quickly return to production. A drilling and construction program commenced to complete the development of the fourth header house in MU2 (mine unit) HH 2-4. The header house, and its associated drilling and wellfield development, is expected to be complete in Q3, 2022, at which time HH 2-4 will be ready for production. Additionally, they have ordered all necessary equipment to construct the fifth header house (HH 2-5) and the long-lead items for the sixth header house in MU2. In conjunction with HH 2-4 work, the 2022 delineation drill program will assist with subsequent wellfield design within MU2. Lost Creek operations can increase to full production rates of an annualized run rate of up to 1.2 million pounds in as little as six months following a “go” decision plus the facility now has the constructed and licensed capacity to process up to 2.2 million pounds of U3O8 per year and sufficient mineral resources to feed the processing plant for many years to come.

On top of that, the company’s cash position as of April 28, 2022, was US$45.8 million and in addition to this strong cash position, they have nearly 284,000 pounds of finished, U.S. produced U3O8 inventory at the conversion facility, worth approximately US$13.4 million at recent spot prices. This financial position provides Ur-Energy with adequate funds to maintain and enhance operational readiness at Lost Creek, as well as allowing them to preserve existing inventory to sell into higher prices.

Ur-Energy is cash rich and optimally situated to take advantage of any potential “on-shoring” of uranium supply. It appears Cameco is ready to make the leap of faith that priority will be given to domestic or “friendly” supply, perhaps Ur-Energy will soon join the fun. With a market cap of approximately US$282 million, investors need to decide what 1.2 to 2.2 million pounds per annum of domestically produced uranium is worth.




Ur-Energy, Hedging the uranium supply against the chaos of war

The big question right now is what will Putin do next? Last week U.S President Biden banned Russian oil and gas imports. Will Russia respond by banning uranium exports to the USA? That would certainly cause a huge drama given that Russia largely controls the uranium market (41% of supply from Kazakhstan, 6% from Russia) and the USA’s dependence on uranium to power 19% of the electricity grid and a significant part of its navy which is nuclear powered.

In anticipation of a possible Russian uranium export ban or supply shock, the uranium price has been moving higher since the war began. At the current uranium price of US$60/lb the outlook for uranium producers is looking dramatically improved.

Uranium prices have spiked higher since the Russia-Ukraine war began on February 24, 2022

Source: Trading Economics

Ur-Energy Inc. (NYSE American: URG | TSX: URE) is among the top two U.S uranium producers (when operational). Ur-Energy operates their flagship Lost Creek ‘in-situ recovery’ uranium mine and facility in south-central Wyoming, USA. The Lost Creek Mine and facility has been on care and maintenance awaiting higher uranium prices. Ur-Energy also owns several other projects including the Shirley Basin Project (construction ready), Lucky Mc Mine, and Last Soldier uranium projects in the USA as well as the Excel Gold Project in Nevada, USA.

A summary of U-Energy’s uranium projects in the USA

Source: Ur-Energy website

The recent good news for Ur-Energy investors can be summed up from the following two key announcements:

  1. November 1, 2021 – Ur-Energy announces Lost Creek development program to advance readiness to ramp up uranium production. Ur-Energy stated: “We are pleased to announce the commencement of a development program at Lost Creek that will advance us from reduced operations to full production-ready status…… As of October 27, 2021, we had more than $40 million in cash and 285,000 pounds of U.S. produced U3O8 in inventory worth approximately $13.4 million, stored at the conversion facility.”
  2. March 9, 2022 – “The economic analyses within the Lost Creek report continue to support the potential viability of the property. Total future life of mine (LoM) production (without additional exploration) is modeled to be 12.3 million pounds from 2022 to 2036 with LoM operating costs estimated to be $16.34 per pound. All in, the estimated total costs per pound, including royalties and extraction taxes, is estimated at $33.61 per pound before income tax of $8.72 per pound. Pricing used in the analysis ranged from $50.80 to $66.04 per pound……The Property has a calculated before tax internal rate of return (IRR) of 72.2 percent and a before tax net present value (NPV) of $210.9 million applying an 8% discount rate. When income taxes are included in the calculation, the after-tax IRR is 66.8 percent and the after tax NPV is $156.8 million.”

Note: Bold emphasis by the author.

Lost Creek update

Minimal controlled production continued at Lost Creek throughout 2021 in recognition of market conditions. Ur-Energy has all required permits for operations within the first three mine units at Lost Creek and expects to have the final permit to allow operations within the HJ and KM Horizon at LC East and additional mine units at Lost Creek this year. Ur-Energy is in the process of obtaining remaining additional amendments to Lost Creek authorizations for expansion of the Lost Creek Mine.

Lost Creek recently received an amendment to its license allowing expansion of mining activities within the existing Lost Creek Project and the adjacent LC East Project. The license now allows annual plant production of up to 2.2 million pounds U3O8, which includes wellfield of up to 1.2 million pounds U3O8 and toll processing of up to 1 million pounds U3O8. Additional approvals (as referenced above) for this expansion are expected in H2 2021.

At the current uranium price of US$60/lb it looks highly likely we will very soon hear an announcement of Lost Creek production restarting.

Shirley Basin update

In addition to Lost Creek, Ur-Energy can bring on their Shirley Basin Project. It has a before tax IRR of 105.6% and NPV8% of $129.7 million. 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, USA.

2021 year end results

Ur-Energy’s 2021 results are not important given that there was virtually zero (251 pounds of U3O8) uranium production and no sales. Ur-Energy reported: “As of December 31, 2021, we had cash resources consisting of cash and cash equivalents of $46.2 million. No sales of U3O8 were necessary in 2021. The Company had a net loss of $22.9 million or $0.12 per common share.”

Ur-Energy, new CEO, John Cash stated:

“We are encouraged by the dramatic increase in domestic and global support for nuclear power, as it is increasingly recognized as the only plausible solution to climate change. Ur-Energy is in the enviable position of being able to quickly ramp up and participate in an improving uranium market and, in addition, we could immediately deliver up to 284,000 pounds U3O8 into the Uranium Reserve Program, currently being established by the U.S. Department of Energy. On March 3, 2022, we had $44.7 million in cash, plus our ready to sell U.S. produced inventory, worth approximately $14.4 million at recent spot prices. Additionally, we continue to advance the construction of header house 2‑4 to expedite production when market signals allow us to ramp up at Lost Creek.”

Closing remarks

Uncertainty of uranium supply from Russia and Russian controlled sources such as Kazakhstan is leading to a surge in uranium prices, up almost 50% in the past 3 weeks since the Russia-Ukraine war commenced.

At current prices, Ur-Energy’s two key projects Lost Creek and Shirley Basin would be highly profitable as per recent economic studies done at uranium prices similar to today’s price. All of this means it is highly likely we will soon see the resumption of uranium production by Ur-Energy at Lost Creek Mine in the near term. It also times well with the U.S.’s intentions to build up a reserve of uranium and the recent White House Fact Sheet aiming to build USA supply chains for key materials.

For investors looking at a hedge against the war, then look no further than uranium. And if Putin bans exports of Russian controlled uranium to the USA and others, then expect to see uranium prices closer to US$100/lb, than to today’s price of US$60/lb.

Ur-Energy trades on a market cap of US$380 million. Looks appealing.




Permitted and Production ready, the Sunday Mornin’ Mine is Comin’ Alive to Mine Saleable Uranium

It’s been a wild ride for uranium stocks over the last few months. From mid-August into September there was a tremendous, across the board, rally on the back of bullishness brought about by the Sprott Physical Uranium Trust (TSX: U.UN) and its purchase of uranium that helped prop up spot prices. Then, as the Sprott Uranium fund raised even more cash to continue buying physical uranium, you had additional optimism that nuclear would be a prominent theme at COP26 as a zero carbon energy source. However, it would appear that for the time being that early to mid-November was the top of the impressive rally in uranium stocks as they seem to be in a bit of a slump of late. With that said, there seems to be plenty of optimism out there that spot uranium buying by Sprott and its peers, have perhaps set a new base for uranium prices and this should serve to benefit virtually all uranium producers.

This could make the current weakness in uranium stocks a buying opportunity, but as I’ve noted before, I might be the worst market timer ever when it comes to uranium names. So today we’ll simply discuss 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 – Western Uranium & Vanadium Corp. (CSE: WUC | OTCQX: WSTRF). Then you can decide whether this is a good time for you to jump on the uranium bandwagon.

Probably the most critical aspect for an investment in Western Uranium is its Sunday Mine Complex (SMC), which is now back in pre-production development. On October 12, 2021, the Company stated that active mine development operations had resumed at the Sunday Mine Complex, and the project is already producing strong results. Development ore is being stockpiled underground, with full production of the GMG ore body potentially beginning within six months. The ore body is projected to be significantly larger than indicated by the previous limited surface drilling and the location of ore-grade material is within thirty feet of the existing mine workings. The Company followed up on November 16th to report that in only three working days, over 300 tons of very high-grade uranium/vanadium ore was mined from the drift estimated at 1.5%+ uranium U3O8 content. At present market prices, this mined ore has a uranium/vanadium ore value of approximately US$1 million. I’d say that’s a pretty good 3 days at the office.

It’s important to note that the Sunday Mine Complex is already permitted and production ready. 2019/2020 exploration and development have enabled Western to quickly restart operations at the SMC where the infrastructure has been recently upgraded and the mine workings rehabilitated. This is a huge advantage relative to other players in the uranium space given that growing a resource, feasibility studies, and permitting can take many years or longer. Western is one of the few North American small-cap uranium producers that have the ability to mine saleable uranium today. In theory, this should give Western a better correlation to uranium price movements than an explorer with indicated or inferred resources or possibly not even that advanced. Western is actually stockpiling a resource it could sell tomorrow.

At present, Western is well-financed to continue operations having finished September with $4.4 million in cash (excluding restricted cash). Additionally, there are roughly 10.7 million warrants outstanding with an average strike price of C$1.60 versus yesterday’s close of C$1.83, which represents an additional C$17 million of potential funding. All this makes Western Uranium’s market cap just under C$70 million. If you are better at figuring out what’s going to happen next with uranium prices than I am, then you can decide if this is a steal of a deal or not. What I do know is that Western Uranium & Vanadium Corp. should react positively to any good news on the uranium front going forward.




Critical Commodities with Jack Lifton: A Uranium Boom?

We’re inaugurating a new feature this week. Every Monday morning InvestorIntel will bring you a brief commentary on what news’ events drove critical commodity prices during the preceding week. Keep in mind that “news” in the mainstream media is not proof either of new resource discovery or of market demand. It does, however, often drive demand for shares in related mining ventures and in commodity metal exchange prices for the “metals of the week.”

Uranium is the winner of the commodity news cycle for last week not because of any new discoveries or unusual rise in end-user demand, but because a credible, well-financed Canadian fund manager, Sprott, announced that it had raised more than a billion dollars for the purpose of acquiring physical uranium on the spot market. By mid-week, Sprott’s Physical Uranium Trust, an ETF, (TSX: U.UN), reported that it held 27,000,000 lbs of uranium (in the form of “yellowcake,” the oxide form of uranium produced by miners and traded in the markets). Many articles noted that the annual U.S. demand for uranium for its 100+ civilian power reactors is 43,000,000 lbs., and that essentially 100% of this is imported from just three countries, Canada, Kazakhstan, and Australia.

The quoted (reported) spot prices of uranium rapidly rose as the chart below shows:

As these events, the rise in the price of uranium and a sharp increase and decrease in the share price of uranium producers/processors, such as Energy Fuels Inc. (NYSE American: UUUU | TSX: EFR) unfolded. I reached out to InvestorIntel uranium expert and frequent contributor, Dean Bristow, with a question, “Is Sprott trying to corner the physical uranium market?” [A market “corner” is an operation that attempts to control so much of a commodity that the operator controls the price.] Dean responded:

“…I don’t think Sprott is trying to corner the market so much as opportunistically force the market’s hand. The majority of uranium is contracted long-term and very little transacts in the spot market. Apparently, China has a lot of 10-year contracts rolling over so they will be back in the market but if Sprott can crank up the spot price with a relatively small amount of cash (realistically totally screwing with the price dynamic for an entire commodity for $2 billion is pretty inexpensive) then it should be good for all uranium producers across the board.

Not to say that Sprott is trying to be benevolent to the uranium industry. I’m sure their fund is making a pretty good return raising $1.3 billion in a span of 2 months. But the big picture is that if the long-term contractors have to pay up then it could become a new higher threshold for uranium prices. Advantage Cameco and Kazatomprom who are the lowest-cost producers.

However, I’m still on the fence as to how high uranium prices can go given I have to think at some price threshold Kazatomprom (the national uranium company of Kazakhstan, the world’s largest uranium producer), who pulled an OPEC move and shut-in 20% of its production, will start ramping things back up to protect market share. Likely just before the price reaches the point of others firing up their inactive mines. I’m not nearly as bullish as many of the talking heads on the financial networks but I wouldn’t rule out another leg up in uranium stocks before the bloom comes off just like it has for lumber, iron ore, copper, aluminum, etc….”

As far as the effect of Sprott’s operations on the share prices of uranium producers and juniors please look every day at Investorintels’s daily Uranium Investorchannel for that day’s closing prices and percentage valuation changes. I am singling out Sprott’s Physical Uranium Trust as the prime mover in the current uranium boom(let), because it is an excellent example of how one actor can influence the price of a scarce commodity. It is estimated that in 2020 just 124,000,000 pounds of uranium (in the form of  U3O8) was produced worldwide. By contrast, world coal production in 2019 was 17,000,000,000,000 pounds! Yes you read that correctly. Coal production was 10,000 times as large as uranium production. This should give you a feel for the relative energy content recoverable from uranium as compared to coal!

Note that share prices are influenced also by factors such as liquidity (How many shares are typically traded), short-term profit-taking, short selling, and on which exchange(s) the shares are listed. Uranium related shares yo-yo’ed last week mainly for these reasons not just because of the posted price for uranium.

By the way, world demand for uranium in 2020 was estimated at 181,000,000 pounds. Imagine what could happen to the price of uranium if environmentalists ever figure out how much carbon dioxide emissions could be reduced by substituting nuclear for coal as the heat source for the steam needed to turn turbines in electricity generation plants.




Ready-to-go uranium producer Ur-Energy benefitting from demand drivers in the U.S. market

Ur-Energy Inc. (NYSE American: URG | TSX: URE | FSE: U9T), a company engaged in uranium mining, recovery, and processing activities, is benefiting from demand drivers in the U.S. market that are set to help U.S. uranium producers.

Ur-Energy operates the Lost Creek In-Situ Recovery (ISR) uranium facility in Wyoming. The company has produced, packaged, and shipped more than 2.6 million pounds of uranium since the start of operations in 2013.

U.S. National Uranium Reserve

The current positive sentiment surrounding uranium stocks is a reflection of uranium energy being part of a clean-energy economy and the United States government moving forward in creating a uranium strategic reserve that should benefit domestic producers.

In December 2020, the U.S. Congress passed a spending proposal that earmarked US$75 million in new funding for a national uranium stockpile. The Bill is awaiting the President’s signature to become a law. The Congressional funding of a national uranium reserve suggests a longer-term strategy for the uranium industry.

Currently priced at approximately US$30 per pound, this action would result in a 2.5-million pound purchase of domestic uranium, well above the current domestic production, which was 174,000 pounds of U3O8 in 2019 and declined even further in 2020.

Part of the “Clean Energy” Revolution

In addition, nuclear power was included in President Joe Biden’s “Plan for a Clean Energy Revolution and Environmental Justice” and recent speculation that the plan could include extending the current end-date of U.S. nuclear facilities thereby increasing long-term demand, has driven up uranium stock prices.

Included in President Biden’s plan is the use of small modular reactors and micro-reactors that could also increase demand for uranium.

According to the U.S. Geological Survey (USGS), uranium power generates 20% of the United States’ electricity production and almost 100% of the uranium is imported creating a potential national security issue.

With the advent of electric vehicles and the goal to reduce greenhouse gas emissions, Morningstar forecasted a 1.2% average annual U.S. electricity demand growth through 2030. Electricity is set to take market share from other energy sources, such as coal and oil.

Ur-Energy’s ISR Facility

ISR is a mining process used to recover minerals, such as uranium, where wells are drilled into the ore body and a special solution is pumped into the deposit, and then pumped out of other wells into a processing plant. The process is less damaging to the terrain than a typical open-pit mine.

Ur-Energy’s ISR uranium facility has been operating at reduced capacity due but as the uranium price or demand increases, Ur-Energy can easily ramp up production levels to accommodate the market.

The company estimates that it would cost US$15.4 million to get production fully restored to 1 million pounds per year and would take 6 to 9 months.

In addition, the company has other nearby resources that can be exploited including the Shirley Basin and the Lost Soldier projects. Its processing facility was designed to process up to two million pounds of U3O8 annually so can easily scale up.

From the three projects, Ur-Energy controls Measured & Indicated resources of 35.6 million pounds of U3O8 and an Inferred resource at 8.2 million pounds, more than enough resources to fuel its processing plant for 20 years.

Upcoming Supply-Demand Imbalance

According to a recent report from the World Nuclear Association, there are approximately 440 nuclear power reactors operating in the world today, and about 50 reactors are currently being constructed. In total, about 100 reactors are on order or planned, and more than 300 are being proposed.

In the 2020 World Energy Outlook report, the forecasted nuclear capacity growth from 2019 to 2040 was estimated at over 15%.

The current pandemic has negatively impacted supply with Cameco temporarily shutting down the Cigar Lake mine due to COVID-19 concerns. This follows the closing of Cameco’s McArthur River and Key Lake operations due to low uranium prices.

Final Thoughts

Ur-Energy is well-positioned as a ready-to-go uranium producer in this current energy market that favours “Clean Energy”.

With a cash resource of C$5.9 million and 269,000 U3O8 pounds of ready-to-sell, “drummed” inventory, worth over US$8 million, the company has a solid financial base that it can use to ramp up production as the market dictates.

Ur-Energy is currently trading at C$1.27, with a Market Cap of C$216 million.




Blue Sky Uranium’s CEO on competitive uranium production costs

“We did put out some news and basically it is our plans for the next six months going forward which talks about expanding and commencing exploration program on three different targets to potentially find additional deposits and to grow the current deposits that we have. That really builds what we have done in last just over two months basically… We are extremely pleased with the [PEA] results that we got. The two real key factors to zero in on these results are, 1. that our CAPEX costs are estimated under $130 million, that’s a very very low cost for construction to go into production for a type of mine as large as Ivana will be. Second of all is the production cost, the All-In-Sustaining-Cost is just over $18 a pound of uranium. It basically (if was in production today), it would rank it amongst the absolute lowest cost producers on the planet.” States Nikolaos Cacos, President, CEO and Director of Blue Sky Uranium Corp. (TSXV: BSK | OTCQB: BKUCF), in an interview with InvestorIntel’s Tracy Weslosky.

Nikolaos went on to explain that the market is about to witness significant uranium demand because of a shortage of uranium supplies. Nikolaos also talked about Blue Sky’s recent pit sampling results from the Ivana Uranium-Vanadium deposit which indicate the potential for further expansion.

To access the complete interview, click here

Disclaimer: Blue Sky Uranium Corp. is an advertorial member of InvestorIntel Corp.