{"id":11210,"date":"2021-07-22T05:23:25","date_gmt":"2021-07-22T05:23:25","guid":{"rendered":"https:\/\/economicherald.net\/?p=11210"},"modified":"2021-07-22T05:23:25","modified_gmt":"2021-07-22T05:23:25","slug":"valor-to-progress-canadian-project-amid-bullish-uranium-market","status":"publish","type":"post","link":"https:\/\/economicherald.net\/?p=11210","title":{"rendered":"Valor to progress Canadian project amid bullish uranium market"},"content":{"rendered":"

Now is a great time to be a uranium explorer or miner, with improved demand outlook that has seen prices hit about US$32\/lb.<\/p>\n

The newly created Sprott Physical Uranium Trust has begun trading on the toronto stock exchange<\/a> \u2013 a move which is expected to increase buying pressure in the uranium spot market.<\/p>\n

Plus, old mate Elon Musk said he is pro-nuclear \u2013 and reckons it could possibly be a clean solution for crypto mining.<\/p>\n

@elonmusk<\/a> is pro nuclear energy. #Uranium<\/a> https:\/\/t.co\/nomN9pUetw<\/a><\/p>\n

\u2014 Peter Herman (@PeterHermanSG) July 21, 2021<\/a><\/p>\n\n

Basically, the narrative is that nuclear will be an essential baseload power source in a green energy future, with the Biden Administration embracing nuclear energy as part of its goal to achieve a net-zero carbon economy by 2050 by establishing a national strategic uranium reserve.<\/p>\n

There\u2019s an opportunity here for ASX listed juniors like Valor resources (ASX:VAL),<\/a> which today announced solid airborne geophysical survey results and plans to start drilling at its Hook Lake project in Canada in the December quarter.<\/p>\n

Speaking with Stockhead<\/em>, executive chairman George Bauk, the bump in interest in the sector comes back to clean energy, net zero and electric vehicles.<\/p>\n

\u201cPeople are wondering how friendly the stuff coming out of the wall socket to charge their electric vehicle is,\u201d he said.<\/p>\n

\u201cWind and solar are great but the wind doesn\u2019t always blow, and the sun doesn\u2019t always shine.\u201d<\/p>\n

\u201cWe need to make sure that we couple that with some baseload fuel sources \u2013 and uranium delivers fantastic outcomes.\u201d<\/p>\n

\u201cAll we need to do is get away from some of the concerns of the past and negative views and values about uranium and look at the positives.\u201d<\/p>\n

Targeting drilling in the Athabasca basin in Q4<\/strong><\/h2>\n

Notably, the Hook Lake project is in the Athabasca basin \u2013 a known great producer of uranium at high grade.<\/p>\n

\u201cWe feel like we\u2019ve got an outstanding portfolio of assets in Canada, we\u2019re in a great area and the people that work for the company have had success in delivering projects from exploration to production,\u201d Bauk said.<\/p>\n

The field crew will be mobilising to site tomorrow to follow up priority areas from the survey \u2013 and too hopefully verify additional targets for drilling.<\/p>\n

The company has also gone through the lengthy approvals process to work on site but Bauk said while the process is longer than in other jurisdictions, it allows more flexibility on the ground and includes drilling.<\/p>\n

\u201cWe have secured all permits that allow us to follow up on the ground, including drilling, which we are targeting for the December quarter,\u201d he said.<\/p>\n

\u201cWe\u2019ve also done a radiometric survey which picks up the uranium anomalism on the surface from an aircraft \u2013 and those results should come out next week.\u201d<\/p>\n\n

\ufeff<\/span><\/span>\u00a0<\/p>\n

The post Valor to progress Canadian project amid bullish uranium market<\/a> appeared first on Stockhead<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

Now is a great time to be a uranium explorer or miner, with improved demand outlook that has seen prices hit about US$32\/lb. 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