Uranium Mining Stocks: The Hidden Gems of the Clean Energy Market (RIO, BHP, CCJ, SUUFF)

May 09 05:04 2023

Uranium is one of the essential components for nuclear energy production. It is a rare and valuable mineral that is found in various parts of the world. The demand for uranium has been growing steadily in recent years as nuclear power is increasingly recognized as a green energy solution that can help reduce carbon emissions.

Nuclear energy is a safe, reliable, and clean source of electricity that does not emit greenhouse gases. Nuclear energy has been quietly powering America with clean, carbon-free electricity for the last 60 years, and it’s clear that this energy source has proven to be reliable and efficient. In fact, did you know that nearly a fifth of the country’s electricity comes from nuclear power each year? With energy independence and a reduced carbon footprint being top priorities for many investors, the uranium mining sector presents a unique opportunity to invest in safe, green energy. 

As countries around the world seek to reduce their carbon footprint, the demand for uranium is expected to grow in the coming years. There are several factors driving the demand for uranium, including the growth of nuclear power in emerging economies, the need to replace aging nuclear reactors, and the increasing adoption of nuclear energy in response to climate change.

As the world continues to shift towards cleaner and more sustainable energy sources, the nuclear energy sector is emerging as a strong player in the race for a greener future. If you’re looking to invest in the future of clean energy, it’s time to take a closer look at the potential of nuclear power.

The entire uranium sector is seeing a surge in interest, and there are some larger companies that can take advantage of this trend. Three of the major players in the sector are:

  • Rio Tinto Group (NYSE:RIO) engages in the exploration, mining, and processing of mineral resources. It operates through the following business segments: iron ore, aluminum, copper, diamonds, energy and minerals, and other operations. 
  • BHP Group (NYSE:BHP) is a resources company operating globally, with operations in Australia, Europe, China, Japan, India, South Korea, North America, South America, and other parts of Asia. It has three main segments: copper, iron ore, and coal. The company mines various minerals, including copper, silver, zinc, molybdenum, uranium, gold, iron ore, metallurgical coal, and energy coal. It also engages in nickel mining, smelting, and refining, as well as potash development.
  • Cameco Corporation (NYSE:CCJ) provides uranium for the generation of electricity. It operates through two segments: uranium and fuel services. The Uranium segment is involved in the exploration for, mining, milling, purchase, and sale of uranium concentrate. 

While these industry giants have a considerable presence in the uranium sector, there are also exciting opportunities for smaller companies. Let’s take a closer look at three smaller companies that are more directly involved in the uranium sector and have the potential to capitalize on the current interest in uranium mining.

Strathmore Plus Uranium Corp. (OTC:SUUFF) is an exploration-stage company  that engages in the acquisition, exploration, and development of resource properties. Strathmore has three uranium projects in Wyoming, including Agate, Beaver Rim, and Night Owl. 

Something that sets SUUFF apart from other players in the uranium sector is location. Wyoming has a long history of supporting mining companies, with a favorable regulatory environment, abundant mineral reserves, and a business-friendly climate. Wyoming is the largest producer of uranium in the US. For example, in 2018, it produced 78% of all U.S. uranium. Another benefit of being located in Wyoming is that drilling costs are significantly cheaper compared to other popular locations in North America, such as the Athabasca Basin in Canada.

Based on historical drilling data, Agate and Beaver Rim have shown promising uranium deposits in the form of Wyoming-type roll-front deposits. And with exploration permits already secured for both properties, Strathmore is well on its way to uncovering their full potential.

But that’s not all: Strathmore’s Night Owl property is a former producing mine that was in operation in the early 1960s. With a rich history and a proven track record, Night Owl has the potential to be a major player in the uranium sector once again. 

Strathmore has submitted an application to drill on the property, with plans to expand the areas of known uranium mineralization using new modern geophysical techniques. The exploratory plan includes 30 drill sites and 3,000 feet of drilling, with the company hoping to utilize highly successful near-surface, airborne radiometric, and magnetic surveys, coupled with a ground-gravity survey, to get a much better understanding of the geology in the area relative to uranium deposition. The completion of the surveys by MWH Geo-Surveys of Reno, Nevada, is slated for early summer.

Mr. John DeJoia, P.Geo. and Director, stated, “With the ability to better understand the geologic regime at Night Owl, I believe we can truly benefit from today’s advanced uranium exploration techniques. When I first learned of the Night Owl property from its original owner, the exploration tools used to first locate the Night Owl property were very basic airborne scintillometers. The knowledge of the Shirley Basin geology and the nearby uranium deposits was just being learned. We have employed new geophysical methods to better identify areas for drilling and sampling. The Night Owl uranium mineralization does not fit the widespread roll-front model, and that and its higher grades make this a very intriguing and promising project.”

Strathmore is excited to utilize new, modern geophysical techniques to identify new targets with even greater potential than the original Night Owl mine site. Upon receipt of the exploration permit, Strathmore intends to drill and collect samples for assaying and downhole geophysical data across areas of notably higher radioactivity based on the airborne survey. 

The lead federal and state agencies in charge of reviewing, approving, and permitting the drilling activities are the US Bureau of Land Management and the State of Wyoming’s Department of Environmental Quality, Land Quality Division. The permitting process will include a review of potential cultural sites and possible impacts on wildlife and vegetation. SUUFF expects to receive an exploration permit in the summer of 2023, followed by drilling in the the fall.

Overall, Strathmore Plus Uranium Corporation is a promising exploration-stage company with a portfolio of uranium projects in Wyoming, including a former producing mine with high potential for future production. With exploration permits already secured and plans to utilize modern geophysical techniques to identify new targets, Strathmore is well-positioned to uncover significant uranium deposits and create value for investors in the uranium sector.

Fission Uranium Corp. (OTC:FCUUF)  is a Canadian uranium project developer with a primary focus on the exploration and development of uranium resource properties in Canada. The company’s flagship asset is the Patterson Lake South property, a proposed high-grade uranium mine and mill located in the Athabasca Basin region of Saskatchewan.

Fission Uranium Corp. has achieved a major milestone by submitting an application for a license to construct a uranium mine and mill facility at their high-grade uranium project in Canada’s Athabasca Basin. This significant development brings the company closer to the realization of its proposed PLS project, and with the commencement of front-end engineering design, Fission is demonstrating its commitment to meeting its targets on schedule. In addition, the completion of geotechnical drilling, hydrogeological holes, test pits, and downhole vertical seismic profiling geophysical surveys showcases Fission’s dedication to exploration and project advancement.

Ross McElroy, President and CEO for Fission, commented, “I am very pleased to confirm that the construction license application for the PLS project has been submitted.” Additionally, we have successfully completed our winter field program, and the front-end engineering design work is well underway. Our development path to production is progressing on schedule, and at the same time, the fundamentals for uranium continue to strengthen in line with the global reactor construction boom.”

Denison Mines Corp. (OTC:DNN) is a uranium exploration and development company with a primary focus on the Athabasca Basin region of northern Saskatchewan, Canada. The company’s flagship project is the Wheeler River Uranium Project, in which it has an effective 95% interest. This project is the largest undeveloped uranium project in the eastern portion of the Athabasca Basin and benefits from existing infrastructure.

Denison also holds interests in several uranium deposits and the McClean Lake uranium mill, including a 22.5% ownership interest in the McClean Lake joint venture, which processes ore from the Cigar Lake mine under a toll milling agreement. Additionally, the company has a 25.17% interest in the Midwest Main and Midwest A deposits and a 67.41% interest in the Heldeth Túé and Huskie deposits on the Waterbury Lake property, all of which are located within 20 kilometers of the McClean Lake mill.

Denison’s exploration portfolio includes interests in properties covering approximately 300,000 hectares in the Athabasca Basin region. Through its 50% ownership of JCU, the company holds interests in various uranium project joint ventures in Canada, including the Millennium project (JCU 30.099%), the Kiggavik project (JCU 33.8118%), and Christie Lake (JCU 34.4508%).

In addition to its exploration and development activities, Denison is also engaged in post-closure mine care and maintenance services through its Closed Mines group. This group manages Denison’s reclaimed mine sites in the Elliot Lake region and provides related services to certain third-party projects.

As an investor in the uranium sector, Denison’s strategic positioning in the Athabasca Basin, as well as its ownership interests in the McClean Lake joint venture and JCU, offer exposure to some of the largest and most promising uranium projects in Canada.

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