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On behalf of Generation Uranium Inc.
Uranium has been a major investment theme over the past 18 months, with prices rising from below US$60/lb to over US$107/lb in February.
Although the market has declined steadily since, leading many investors to question whether to hold or exit, Citi maintains a "tactically bullish" outlook for the market’s potential in 2024 and beyond.1
Citi's latest research attributes the recent price stagnation to low trading volume and liquidity but expects a rebound as investor focus shifts. Citi forecasts uranium prices could rise to US$98/lb later this year, with an average of US$94/lb. By 2025, prices could reach US$110/lb, implying a potential upside of 36%.
Citi points to increased uranium production as a factor in the recent price dip, with Kazakhstan's output expected to reach 59 million lbs this year. However, production growth is expected to slow sharply later in the decade. Meanwhile, inventories are projected to fall by 20 million lbs by 2030, putting uranium production back at the center of price determination.
On the demand side, Citi notes the growing need for low-carbon energy and rising global power consumption. While no new nuclear plants are currently planned, Citi expects utilities to focus on extending plant life and restarting shuttered facilities, potentially boosting uranium demand, especially in the US.
As the broader uranium market shows signs of a potential recovery, companies like Generation Uranium (TSXV:GEN) (OTCQB:GENRF) are well-positioned to capitalize on this trend through strategic projects and exploration initiatives.
Generation Uranium is making significant strides with its Yath Uranium Project in Nunavut, Canada.2 The company holds a 100% interest in this project, which is located in the prolific and under-explored Thelon Basin.
Yath is strategically positioned along the trend of the Lac 50 uranium deposit, which contains 43 million lbs of uranium and is currently being developed by Latitude Uranium, a company recently acquired by ATHA Energy for $64.7 million in an all-share deal.3 Historical exploration at Yath has consistently indicated uranium concentrations between 1% and 10% U3O8, underscoring its potential.
In June, Generation Uranium acquired the Yellow Frog and Pink Toad Uranium Projects along the Angilak Trend in Nunavut, Canada. These acquisitions expand the Company's Yath Uranium Project by over 45%, bringing its total coverage to 123.45 km². Yath now extends northward, coming within 3 kilometers of Atha Energy Corp’s Angilak Project.
Generation Uranium Partners With APEX Geoscience and ATHA Energy to Advance Yath Uranium Project
In a further move to advance the Yath Project, Generation Uranium (TSXV:GEN) (OTCQB:GENRF) has partnered with APEX Geoscience. APEX will provide geological consulting services and assist in preparing and submitting exploration authorization applications for a planned diamond drilling campaign. This collaboration includes coordination with key regulatory bodies such as the Nunavut Planning Commission, Nunavut Impact Review Board, and Kivalliq Inuit Association to ensure compliance with all regulations.
This partnership builds on historical data pointing to significant uranium potential at Yath, with past explorations and recent surveys by Kivalliq Energy affirming the high-grade uranium deposits.
The collaboration with APEX Geoscience emphasizes Generation Uranium’s commitment to utilizing expert insights and advanced technology to maximize the Yath Uranium Project’s potential, setting the stage for future development and regional economic growth.
To accelerate exploration, Generation Uranium (TSXV:GEN) (OTCQB:GENRF) has launched an advanced airborne electromagnetic survey at the Yath Project, in partnership with ATHA Energy Corp. The survey is being conducted by Expert Geophysics Ltd., a leader in geophysical survey technology, using its cutting-edge Mobile MagnetoTellurics (MMT) system. This system, known for its precision, will employ the latest airborne AFMAG (Audio-frequency Magnetic) technology to identify electromagnetic (EM) anomalies across the 123.45 km² property. The survey will cover 890 line-kilometers with a 150-meter line spacing, gathering high-resolution magnetic and VLF data.
The collaboration with ATHA Energy allows Generation Uranium to leverage economies of scale, reducing costs and speeding up the exploration process. CEO Anthony Zelen expressed confidence in the project, highlighting the strategic partnership and advanced technology as key factors in advancing Yath towards drilling.
Click here for more information about Generation Uranium (TSXV:GEN) (OTCQB:GENRF).
[1] https://www.marketindex.com.au/news/uranium-prices-will-rise-again-remain-tactically-bullish-citi
[2] https://generationuranium.com/yath-project
[3] https://generationuranium.com/news/b/guexploration
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