Uranium is going gangbusters right now.
The spot uranium price has pushed past $35/lb for first time in six years thanks to the Sprott Physical Uranium Trust (SPUT) sparking the lift when it started buying up and storing physical uranium. Stocks are responding.
How are uranium stocks on the ASX tracking today?
A whopping 14 out of the 15 ASX uranium stocks on out list enjoyed a share price lift today, averaging around 14%.
CODE COMPANY 1 DAY RETURN % 1 WEEK RETURN % 1 MONTH RETURN % 6 MONTH RETURN % 1 YEAR RETURN % PRICE MARKET CAP 92E 92Energy 20 22 148 0.62 $ 20,285,850.52 DYL Deep Yellow 20 25 71 80 367 1.145 $ 316,350,967.89 PEN Peninsula Energy 18 30 93 168 294 0.26 $ 219,124,000.70 VMY Vimy Resources 18 25 67 82 471 0.2 $ 178,754,772.03 VAL Valor Resources 18 33 122 186 400 0.02 $ 50,130,134.11 EL8 Elevate Uranium 17 50 142 431 741 0.69 $ 134,651,951.14 AGE Alligator Energy 17 56 141 483 1300 0.07 $ 167,014,419.66 BMN Bannerman Energy 14 29 107 132 644 0.29 $ 307,228,533.39 LOT Lotus Resources 13 15 69 116 170 0.27 $ 230,373,315.12 LAM Laramide Res 11 24 42 33 136 0.825 $ 876,415.30 DEV Devex Resources 11 17 50 64 38 0.345 $ 95,428,529.77 TIN TNT Mines 10 59 80 50 54 0.27 $ 29,411,816.11 PDN Paladin Energy 9 20 97 130 559 0.935 $ 2,289,678,157.40 CXU Cauldron Energy 10 22 50 36 41 0.045 $ 20,143,038.83 GLA Gladiator Resources 9 27 170 170 -16 0.0405 $ 16,462,036.45 GTR Gti Resources 9 30 106 94 40 0.035 $ 25,477,909.28 OKR Okapi Resources 9 37 58 330 246 0.71 $ 66,015,121.90 TOE Toro Energy 8 27 87 33 100 0.028 $ 101,330,896.68 BOE Boss Energy 8 27 78 104 265 0.285 $ 603,743,221.09 NXG Nexgenenergycanada 5 7 48 8.02 $ 83,227,536.42 BKY Berkeley Energia 0 -3 -3 -49 -63 0.325 $ 84,169,117.50 DLC Delecta 35 69 125 170 93 0.0135 $ 10,086,212.00 ERA Energy Resources of Australia 26 22 58 105 156 0.42 $ 1,530,000,000.00
BIGGEST MOVERS
92Energy (ASX:92E)
The freshly listed uranium explorer has a market cap of $18million and wants to unlock the potential of its tenements in Canada’s Athabasca Basin, just 11km from Cigar Lake — one of the world’s largest and highest-grade uranium deposits.
A recent survey over its ‘Tower’ and ‘Gemini’ projects has identified multiple conductors prospective for high-grade, unconformity-type uranium.
The company has just intersected a zone of elevated radioactivity in inaugural drilling at Gemini.
The 5.3m of elevated radioactivity (>500 counts per second (cps)) is promising because elevated radioactivity is commonly associated with uranium mineralization at unconformity-related uranium deposits in the Athabasca Basin.
The company says that drill targeting over Tower and the northern portion of Gemini will kick off upon receipt of the final processed geophysical data sets.
Valor Resources (ASX:VAL)
The company plans to start drilling at its Hook Lake project in Canada in the December quarter – which is also in the Athabasca basin.
Sampling at the project has already returned some solid uranium-rare earth-silver-lead results including:
2% uranium, 499 g/t silver, 5.05% total rare earth oxide (TREO), 14.4% lead;
4% uranium, 507g/t silver, 3.68% TREO, 14.5% lead; and
1% uranium, 435g/t silver, 2.88% TREO, 8.8% lead.
Gladiator Resources (ASX:GLA)
Last month the explorer secured exploration projects in Tanzania, East Africa, with a focus on uranium, rare earths, phosphate, and gold.
Tanzania can be an unstable jurisdiction for Aussie companies to operate in but the company reckons its aware of the risk and reckons the transaction is a good opportunity to acquire well known and well documented uranium tenements – which are also prospective for gold.
Due diligence enquiries are progressing, and the $18million market cap company is aiming complete outstanding payments to finalise the grant of the licenses and to take control of Zeus Resources so that it can commence work on the licenses.
Paladin Energy (ASX:PDN)
Paladin is a former producer at the Langer Heinrich mine in Namibia which has been on care and maintenance, but – following a big $218m cap raise — is getting ready to relaunch.
The $2billion market cap company has optimised its pit design, tailings management and mining schedules which it says are critical elements in its restart plan.
“With our successful equity raising and debt redemption during the year, Paladin is now strongly placed to continue progressing the Langer Heinrich Mine towards restarting production and advancing our portfolio of high-grade exploration assets,” Paladin CEO Ian Purdy said.
“We continue to engage with global nuclear energy utilities to secure long term contracts to underpin the restart of the Langer Heinrich Mine and ensure the project, when re-started, will deliver significant economic benefit to all of our shareholders.”
Peak production at the mine was 5.6 million pounds in 2014 (2,540t) before operations were suspended due to low prices.
Vimy Resources (ASX:VMY)
Advanced uranium play Vimy ($159 million market cap) wants its shovel-ready Mulga Rock project up and running to take advantage of the uranium price surge.
Just last month the Western Australian Department of Mines Industry Regulation and Safety (DMIRS) approved the project management plan – which is one of three WA Government departmental approvals required to get Mulga up and running.
“Vimy has, and will continue to work cooperatively with the various Government departments to obtain the remaining approvals,” outgoing managing director and CEO Mike Young said.
“Diversification and security of supply are front of mind for nuclear utilities as global uranium production shrinks from the middle of this decade.
“Combined with renewed activity in the term uranium market, this approval augurs well for a project Final Investment Decision in the year ahead.”
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