As prices for commodities like iron ore, coal, lithium, nickel, and gold fell in February, uranium emerged as the sole winner. Apart from the nuclear revival taking place across the globe, there are several other factors driving uranium prices. For one, Sprott Physical Uranium Trust continues to be a large buyer of spot pounds, assuring utilities will be less able to satisfy their order books through an arbitrage between spot and contract pricing. Sprott’s CEO says uranium will see repricing soon as the demand continues to grow. Secondly, a number of utilities are projected to fall short of contracted requirements very soon, necessitating the acquisition of additional supplies from suppliers and third, Western producers are seeing demand from untapped markets previously served by Russia’s vast enrichment sector. Fortunately, higher prices will bode well for uranium development companies like Fission Uranium Corp. (TSX:FCU) (OTCQX:FCUUF), Denison Mines Corp. (TSX:DML) (NYSE-A:DNN) and NexGen Energy Ltd. (TSX:NXE) (NYSE:NXE) and producers like Uranium Energy Corp. (NYSE:UEC), and Ur-Energy Inc. (NYSE:URG).

Fission Uranium Corp. (TSX:FCU) (OTCQX:FCUUF), a Canadian resource company, is focusing on developing its Patterson Lake South (PLS) property, which comprises a proposed high-grade uranium mine and mill.

PLS is located in the renowned Athabasca Basin uranium district and is home to the region’s only major, high-grade deposit discovered at shallow depth – a considerable advantage in terms of construction time, technical risk, and competitive cost. In truth, this advanced uranium project could become one of the world’s most cost-effective uranium mines.

On March 2, Fission Uranium hit an exciting milestone, announcing that it has filed a technical report for PLS, summarizing the Feasibility Study in accordance with the National Instrument NI 43-101 standards. 

The expanded ten-year mine life, with a LOM production of 90.9 million lbs of U3O8, the operating costs of just C$13.02, the after-tax NPV 8% of C$1.2 billion and the after-tax IRR of 27.2% are some of the most crucial elements of the report.

Fission also noted that neither Patterson Lake nor the Clearwater River will be physically impacted by the underground mine design – an important factor that undoubtedly has helped the company to successfully sign engagement and capacity agreements with the local rights holders and stakeholders. 

For more information about Fission Uranium Corp. (TSX:FCU) (OTCQX:FCUUF), please visit this link.

Uranium Companies Boost Production and Expand Exploration 

North American-focused Uranium Energy Corp. (NYSE:UEC) just announced that it will be supplying 300,000 pounds of uranium concentrates of US origin to the Department of Energy’s National Nuclear Security Administration (NNSA) for $17.85 million. The funding was made in response to a request for proposals issued by the National Nuclear Security Administration to develop its strategic national Uranium Reserve program. Uranium Energy also recently acquired a 100% stake in Rio Tinto’s Roughrider uranium project in Saskatchewan.

Ur-Energy Inc. (NYSE:URG) has increased the quantity of uranium to be delivered under the company’s sales agreement announced on August 8, 2022. The agreement, which originally called for 200,000 pounds of U3O8 delivered annually over a six-year period, has been revised to raise the yearly supply by 100,000 pounds of U3O8 commencing in 2024 at the same pricing levels. Beginning in 2024, the Company’s total sales amount under contract will be 600,000 pounds U3O8, plus or minus a minor, optional flex. Ur-Energy has decided to immediately ramp up production at its operating Lost Creek uranium mine to levels sufficient to deliver into these current contracts, having obtained these sales commitments.

Exploration company NexGen Energy Ltd. (TSX:NXE) (NYSE:NXE) announced last month that it has commenced its expanded 2023 exploration project at 100% owned Rook I property in the Athabasca Basin. The program is designed to follow-up on positive results from the 2022 exploration drill program and to test prospective areas that have been highlighted by detailed 2022 geophysical surveys.The company has also planned a substantial geophysical program this year for drill target generation across high-priority areas at the property.

Denison Mines Corp. (TSX:DML) (NYSE-A:DNN) is also making progress at its 95% owned Wheeler River project, announcing the completion of the neutralization phase of the Phoenix in-situ recovery Feasibility Field Test (FTT) in late December 2022. The neutralization phase was initiated in October after the successful completion of the FTT leaching phase and was designed to confirm certain environmental assessment assumptions and verify the efficiency and effectiveness of the neutralization process planned for ISR mining at Phoenix.

Fission Uranium recently appointed Beatriz Orrantia, a sustainable mining expert, to the Company’s Board of Directors.

Featured Image MegaPixl @ Bulus

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2) The Article was issued on behalf of and sponsored by, Fission Uranium Corp. Market Jar Media Inc. has or expects to receive from Fission Uranium Corp.’s Digital Marketing Agency of Record (Native Ads Inc.) ninety two thousand six hundred and forty CAD for 53 days (38 business days).

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6) This document contains forward-looking information and forward-looking statements, within the meaning of applicable Canadian securities legislation, (collectively, “forward-looking statements”), which reflect management’s expectations regarding Fission Uranium Corp.’s future growth, future business plans and opportunities, expected activities, and other statements about future events, results or performance. Wherever possible, words such as “predicts”, “projects”, “targets”, “plans”, “expects”, “does not expect”, “budget”, “scheduled”, “estimates”, “forecasts”, “anticipate” or “does not anticipate”, “believe”, “intend” and similar expressions or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved, or the negative or grammatical variation thereof or other variations thereof, or comparable terminology have been used to identify forward-looking statements. These forward-looking statements include, among other things, statements relating to: (a) revenue generating potential with respect to Fission Uranium Corp.’s industry; (b) market opportunity; (c) Fission Uranium Corp.’s business plans and strategies; (d) services that Fission Uranium Corp. intends to offer; (e) Fission Uranium Corp.’s milestone projections and targets; (f) Fission Uranium Corp.’s expectations regarding receipt of approval for regulatory applications; (g) Fission Uranium Corp.’s intentions to expand into other jurisdictions including the timeline expectations relating to those expansion plans; and (h) Fission Uranium Corp.’s expectations with regarding its ability to deliver shareholder value. Forward-looking statements are not a guarantee of future performance and are based upon a number of estimates and assumptions of management in light of management’s experience and perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances, as of the date of this document including, without limitation, assumptions about: (a) the ability to raise any necessary additional capital on reasonable terms to execute Fission Uranium Corp.’s business plan; (b) that general business and economic conditions will not change in a material adverse manner; (c) Fission Uranium Corp.’s ability to procure equipment and operating supplies in sufficient quantities and on a timely basis; (d) Fission Uranium Corp.’s ability to enter into contractual arrangements with additional Pharmacies; (e) the accuracy of budgeted costs and expenditures; (f) Fission Uranium Corp.’s ability to attract and retain skilled personnel; (g) political and regulatory stability; (h) the receipt of governmental, regulatory and third-party approvals, licenses and permits on favorable terms; (i) changes in applicable legislation; (j) stability in financial and capital markets; and (k) expectations regarding the level of disruption to as a result of CV-19. Such forward-looking information involves a variety of known and unknown risks, uncertainties and other factors which may cause the actual plans, intentions, activities, results, performance or achievements of Fission Uranium Corp. to be materially different from any future plans, intentions, activities, results, performance or achievements expressed or implied by such forward-looking statements. Such risks include, without limitation: (a) Fission Uranium Corp.’s operations could be adversely affected by possible future government legislation, policies and controls or by changes in applicable laws and regulations; (b) public health crises such as CV-19 may adversely impact Fission Uranium Corp.’s business; (c) the volatility of global capital markets; (d) political instability and changes to the regulations governing Fission Uranium Corp.’s business operations (e) Fission Uranium Corp. may be unable to implement its growth strategy; and (f) increased competition.

Except as required by law, Fission Uranium Corp. undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future event or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events. Neither does Fission Uranium Corp. nor any of its representatives make any representation or warranty, express or implied, as to the accuracy, sufficiency or completeness of the information in this document. Neither Fission Uranium Corp. nor any of its representatives shall have any liability whatsoever, under contract, tort, trust or otherwise, to you or any person resulting from the use of the information in this document by you or any of your representatives or for omissions from the information in this document.

7) Any graphs, tables or other information demonstrating the historical performance or current or historical attributes of Fission Uranium Corp. or any other entity contained in this document are intended only to illustrate historical performance or current or historical attributes of Fission Uranium Corp. or such entities and are not necessarily indicative of future performance of Fission Uranium Corp. or such entities.

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