Rising demand for nuclear energy has brought back uranium from a decade-long slump, creating ideal conditions for early-stage projects to increase their value, Uranium Royalty CEO Scott Melbye said in an interview.
“We’ve quickly moved to a market where new mine production is urgently needed,” Melbye said last month during the Rule Symposium in Boca Raton, Florida. Uranium Royalty has grown its portfolio to include 21 assets, with stakes in key uranium projects in Saskatchewan’s Athabasca Basin including Cameco’s MacArthur River, as well as Paladin Energy’s Langer Heinrich mine in Namibia.
The company has also stockpiled 2.6 million lb. of uranium at an average cost of $56 per lb. and holds over $300 million in liquid assets, putting it in a prime spot to benefit from the market’s recovery, according to Melbye.Nutrien names insider Mark Thompson as CFO amid mixed results Thompson, who has been with Nutrien for 13 year and currently serves as chief commercial officer, will assume his new role on August 26.Namibia is the world’s third-largest uranium producer and is home to deposits of lithium as well as rare earth minerals.The results from the early season program come just two weeks after Snowline released similarly strong results from the first two drill holes of this year’s program.