The Conversation (0)
Misty Urbatsch, Vice-President Corporate Development, Resigns Position to Focus on Core Nickel Corp
Appointed to Advisory Board of CanAlaska
CanAlaska Announces Senior Management Change
CanAlaska Uranium Ltd. (TSXV: CVV) (OTCQX: CVVUF) (FSE: DH7) ("CanAlaska" or the "Company") is pleased to announce changes to the Company's senior management team and advisory board. Misty Urbatsch has resigned her position as Vice-President Corporate Development for the Company and has subsequently been appointed to the Advisory Board of the Company.
Misty brought a rare blend of experience in the mining industry. With a robust background in a major exploration, mining and marketing company, she has provided invaluable expertise to the Company including domestic and international uranium exploration and global uranium sales, marketing, and trading. In addition, Misty successfully led completion of the Core Nickel Corp. spin-out from CanAlaska in November.
Misty Urbatsch
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2864/189799_b8b82529f4131bf4_001full.jpg
The Company is pleased to add Misty to the Advisory Board of CanAlaska as we enter the next uranium bull market. Her incredible skillset developed over fifteen years at Cameco in uranium exploration and marketing departments will help CanAlaska and its shareholders maximize value in the near term and long term.
Through this management change, Misty will be able to focus her time as Chief Executive Officer, President and Director for newly formed Core Nickel Corp.
Core Nickel CEO, Misty Urbatsch, comments, "Working with the CanAlaska team over the past several months has been an absolute pleasure. Together, we have tackled various projects, including the spin-out of Core Nickel Corp. As I transition into my new role as an advisor to the Board of CanAlaska, I am thrilled to continue utilizing my many years of experience in the uranium sector to support the Company's growth and success."
CanAlaska CEO, Cory Belyk, comments, "Over the past several months, it has been a pleasure working closely with Misty to complete the Core Nickel spin-out transaction for our shareholders. Having her continue her journey as Core Nickel CEO will provide incredible opportunity for our shareholders to realize additional value from this nickel spin-out transaction. As a newly appointed advisor to the Board of CanAlaska, Misty will continue to help maximize growth potential for CanAlaska in the Athabasca Basin."
About CanAlaska Uranium
CanAlaska Uranium Ltd. (TSXV: CVV) (OTCQX: CVVUF) (FSE: DH7) holds interests in approximately 350,000 hectares (865,000 acres), in Canada's Athabasca Basin - the "Saudi Arabia of Uranium." CanAlaska's strategic holdings have attracted major international mining companies. CanAlaska is currently working with Cameco and Denison at two of the Company's properties in the Eastern Athabasca Basin. CanAlaska is a project generator positioned for discovery success in the world's richest uranium district. The Company also holds properties prospective for nickel, copper, and diamonds. For further information visit www.canalaska.com.
The Qualified Person under National Instrument 43-101 Standards of Disclosure for Mineral Projects for this news release is Nathan Bridge, MSc., P. Geo., Vice-President Exploration for CanAlaska Uranium Ltd., who has reviewed and approved its contents.
On behalf of the Board of Directors
"Cory Belyk"
Cory Belyk, P.Geo., FGC
CEO, President and Director
CanAlaska Uranium Ltd.
Contacts:
Cory Belyk, CEO and President
Tel: +1.604.688.3211 x 138
Email: cbelyk@canalaska.com
General Enquiry
Tel: +1.604.688.3211
Email: info@canalaska.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-looking information
All statements included in this press release that address activities, events or developments that the Company expects, believes or anticipates will or may occur in the future are forward-looking statements. These forward-looking statements involve numerous assumptions made by the Company based on its experience, perception of historical trends, current conditions, expected future developments and other factors it believes are appropriate in the circumstances. In addition, these statements involve substantial known and unknown risks and uncertainties that contribute to the possibility that the predictions, forecasts, projections and other forward-looking statements will prove inaccurate, certain of which are beyond the Company's control. Readers should not place undue reliance on forward-looking statements. Except as required by law, the Company does not intend to revise or update these forward-looking statements after the date hereof or revise them to reflect the occurrence of future unanticipated events.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/189799
News Provided by Newsfile via QuoteMedia
CanAlaska Increases Private Placement Financing to $12 Million
CanAlaska Uranium Ltd. (TSXV: CVV) (OTCQX: CVVUF) (FSE: DH7) ("CanAlaska" or the "Company") announces that further to its news release of November 20, 2023, due to increased demand, it is increasing the total gross amount to be raised under its non-brokered private placement to $12 million (the "Offering"). The Offering will be comprised of a combination of: (i) non-flow-through units (the "NFT Units") to be sold at a price of $0.36 per NFT Unit; (ii) flow-through units of the Company (each, a "FT Unit") to be sold at a price of $0.425 per FT Unit; and (iii) flow-through units to be sold to charitable purchasers (each, a "Charity FT Unit") to be sold at a price of $0.5575 per Charity FT Unit.
Each NFT Unit will consist of one non-flow-though common share of the Company (each, a "NFT Share") and one common share purchase warrant (each, a "Warrant"). Each FT Unit will consist of one common share of the Company to be issued as a "flow-through share" within the meaning of the Income Tax Act (Canada), (each, a "FT Share") and one half (½) of one common share purchase warrant (each whole warrant, a "Warrant"). Each Charity FT Unit will consist of one common share of the Company to be issued as a "flow-through share" within the meaning of the Income Tax Act (Canada), (each, a "FT Share") and one common share purchase warrant (each, a "Warrant"). Each Warrant will entitle the holder to purchase one common share of the Company (each, a "Warrant Share") at a price of $0.56 at any time on or before that date which is 24 months after the closing date of the Offering. The exact number of NFT Units, FT Units and Charity FT Units sold will be determined at closing.
The gross proceeds received from the sale of the FT Units and the Charity Units will be used for work programs on the Company's exploration properties. The net proceeds received from the sale of the NFT Units will be used for general working capital.
The Company will pay finders' fees comprised of cash and non-transferable warrants in connection with the Offering, subject to compliance with the policies of the TSX Venture Exchange. Red Cloud Securities Inc. is acting as a finder with respect to the Offering.
All securities issued and sold under the Offering will be subject to a hold period expiring four months and one day from their date of issuance. Completion of the Offering and the payment of any finders' fees remain subject to the receipt of all necessary regulatory approvals, including the approval of the TSX Venture Exchange.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States of America. The securities have not been and will not be registered under the United States Securities Act of 1933 (the "1933 Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons (as defined in the 1933 Act) unless registered under the 1933 Act and applicable state securities laws, or an exemption from such registration is available.
About CanAlaska Uranium
CanAlaska Uranium Ltd. (TSXV: CVV) (OTCQX: CVVUF) (FSE: DH7) holds interests in approximately 350,000 hectares (865,000 acres), in Canada's Athabasca Basin - the "Saudi Arabia of Uranium." CanAlaska's strategic holdings have attracted major international mining companies. CanAlaska is currently working with Cameco and Denison at two of the Company's properties in the Eastern Athabasca Basin. CanAlaska is a project generator positioned for discovery success in the world's richest uranium district. The Company also holds properties prospective for nickel, copper, gold and diamonds. For further information visit www.canalaska.com.
The Qualified Person under National Instrument 43-101 Standards of Disclosure for Mineral Projects for this news release is Nathan Bridge, MSc., P. Geo., Vice-President Exploration for CanAlaska Uranium Ltd., who has reviewed and approved its contents.
On behalf of the Board of Directors
"Cory Belyk"
Cory Belyk, P.Geo., FGC
CEO, President and Director
CanAlaska Uranium Ltd.
Contacts:
Cory Belyk, CEO and President
Tel: +1.604.688.3211 x 138
Email: cbelyk@canalaska.com
General Enquiry
Tel: +1.604.688.3211
Email: info@canalaska.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-looking information
All statements included in this press release that address activities, events or developments that the Company expects, believes or anticipates will or may occur in the future are forward-looking statements. These forward-looking statements involve numerous assumptions made by the Company based on its experience, perception of historical trends, current conditions, expected future developments and other factors it believes are appropriate in the circumstances. In addition, these statements involve substantial known and unknown risks and uncertainties that contribute to the possibility that the predictions, forecasts, projections and other forward-looking statements will prove inaccurate, certain of which are beyond the Company's control. Readers should not place undue reliance on forward-looking statements. Except as required by law, the Company does not intend to revise or update these forward-looking statements after the date hereof or revise them to reflect the occurrence of future unanticipated events.
Not for distribution to United States newswire services or for dissemination in the United States.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/188195
News Provided by Newsfile via QuoteMedia
CanAlaska Announces up to $7.5 Million Private Placement Financing
CanAlaska Uranium Ltd. (TSXV: CVV) (OTCQX: CVVUF) (FSE: DH7) ("CanAlaska" or the "Company") announces that it proposes to undertake a non-brokered private placement of securities to raise total gross proceeds of up to $7.5 million (the "Offering"). The Offering will be comprised of a combination of: (i) non-flow-through units (the "NFT Units") to be sold at a price of $0.36 per NFT Unit; (ii) flow-through units of the Company (each, a "FT Unit") to be sold at a price of $0.425 per FT Unit; and (iii) flow-through units to be sold to charitable purchasers (each, a "Charity FT Unit") to be sold at a price of $0.5575 per Charity FT Unit.
Each NFT Unit will consist of one non-flow-though common share of the Company (each, a "NFT Share") and one common share purchase warrant (each, a "Warrant"). Each FT Unit will consist of one common share of the Company to be issued as a "flow-through share" within the meaning of the Income Tax Act (Canada), (each, a "FT Share") and one half (½) of one common share purchase warrant (each whole warrant, a "Warrant"). Each Charity FT Unit will consist of one common share of the Company to be issued as a "flow-through share" within the meaning of the Income Tax Act (Canada), (each, a "FT Share") and one common share purchase warrant (each, a "Warrant"). Each Warrant will entitle the holder to purchase one common share of the Company (each, a "Warrant Share") at a price of $0.56 at any time on or before that date which is 24 months after the closing date of the Offering. The exact number of NFT Units, FT Units and Charity FT Units sold will be determined at closing.
The gross proceeds received from the sale of the FT Units and the Charity Units will be used for work programs on the Company's exploration properties. The net proceeds received from the sale of the NFT Units will be used for general working capital.
The Company will pay finders' fees comprised of cash and non-transferable warrants in connection with the Offering, subject to compliance with the policies of the TSX Venture Exchange. Red Cloud Securities Inc. is acting as a finder with respect to the Offering.
All securities issued and sold under the Offering will be subject to a hold period expiring four months and one day from their date of issuance. Completion of the Offering and the payment of any finders' fees remain subject to the receipt of all necessary regulatory approvals, including the approval of the TSX Venture Exchange.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States of America. The securities have not been and will not be registered under the United States Securities Act of 1933 (the "1933 Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons (as defined in the 1933 Act) unless registered under the 1933 Act and applicable state securities laws, or an exemption from such registration is available.
About CanAlaska Uranium
CanAlaska Uranium Ltd. (TSXV: CVV) (OTCQX: CVVUF) (FSE: DH7) holds interests in approximately 350,000 hectares (865,000 acres), in Canada's Athabasca Basin - the "Saudi Arabia of Uranium." CanAlaska's strategic holdings have attracted major international mining companies. CanAlaska is currently working with Cameco and Denison at two of the Company's properties in the Eastern Athabasca Basin. CanAlaska is a project generator positioned for discovery success in the world's richest uranium district. The Company also holds properties prospective for nickel, copper, gold and diamonds. For further information visit www.canalaska.com.
The Qualified Person under National Instrument 43-101 Standards of Disclosure for Mineral Projects for this news release is Nathan Bridge, MSc., P. Geo., Vice-President Exploration for CanAlaska Uranium Ltd., who has reviewed and approved its contents.
On behalf of the Board of Directors
"Cory Belyk"
Cory Belyk, P.Geo., FGC
CEO, President and Director
CanAlaska Uranium Ltd.
Contacts:
Cory Belyk, CEO and President
Tel: +1.604.688.3211 x 138
Email: cbelyk@canalaska.com
General Enquiry
Tel: +1.604.688.3211
Email: info@canalaska.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-looking information
All statements included in this press release that address activities, events or developments that the Company expects, believes or anticipates will or may occur in the future are forward-looking statements. These forward-looking statements involve numerous assumptions made by the Company based on its experience, perception of historical trends, current conditions, expected future developments and other factors it believes are appropriate in the circumstances. In addition, these statements involve substantial known and unknown risks and uncertainties that contribute to the possibility that the predictions, forecasts, projections and other forward-looking statements will prove inaccurate, certain of which are beyond the Company's control. Readers should not place undue reliance on forward-looking statements. Except as required by law, the Company does not intend to revise or update these forward-looking statements after the date hereof or revise them to reflect the occurrence of future unanticipated events.
Not for distribution to United States newswire services or for dissemination in the United States.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/187989
News Provided by Newsfile via QuoteMedia
CanAlaska Reports Large Gravity Targets Identified at Geikie Project in Athabasca Basin
Airborne Gravity Survey Highlights Numerous Targets Coincident with Regional Fault Structures and Mineralization
Winter Drilling Program Planned for Q1 2024
CanAlaska Uranium Ltd. (TSXV: CVV) (OTCQX: CVVUF) (FSE: DH7) ("CanAlaska" or the "Company") is pleased to announce that it has received survey results from the fixed-wing Falcon Airborne Gravity Gradiometer (AGG) survey on it's Geikie uranium project (the "Project") near the Athabasca Basin margin (Figure 1). The purpose of the AGG survey was to identify potential target areas of enhanced basement alteration associated with previously interpreted and drill-defined structural corridors. The survey successfully identified multiple gravity low targets within the Project, interpreted to be related to alteration zones caused by fluids that are potentially related to mineralizing events. Significantly, a number of these gravity anomalies are coincident with drill and airborne survey defined structural corridors. These new targets, integrated with the existing airborne magnetic, radiometric, and electromagnetic data as well as drill information from the recently completed program, will be a focus of a drill program planned to commence Q1 2024.
Figure 1 – Geikie Project LocationÂ
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2864/187566_5befbe2224718a90_002full.jpg
CanAlaska contracted Xcalibur Multiphysics Group of Mississauga, Ontario to conduct a detailed fixed-wing Falcon AGG survey on the Geikie Project (Figure 2). The survey consisted of a total of 1,838 line kilometres at 200 m flight line spacing across the majority of the Geikie project. The purpose of the AGG survey, a demonstrated successful technique in identifying uranium alteration systems in the Athabasca Basin, was to identify potential target areas of enhanced basement alteration associated with previously interpreted and drill defined structural corridors. Gravity low features are interpreted to represent low-density rocks with indications of clay alteration caused by intensified fluid movement along fault zones, potentially related to uranium mineralizing systems in the Athabasca Basin.
Figure 2 – AGG Survey Results with 2023 Drill Program ResultsÂ
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2864/187566_5befbe2224718a90_004full.jpg
The 2023 summer drill program was focused on a 15-kilometre-long conductive structural corridor where drillholes intersected graphitic host rocks, showing evidence of multiple post-Athabasca structural reactivation events along north-south and northwest trending faults, hydrothermal alteration, and uranium mineralization up to 0.27% U3O8 over 0.5 metres from 185.0 metres in GKI002 (see news release dated September 27, 2023). Uranium enrichment was present in several other drillholes. Results from the program, specifically on the Preston Creek and Aero Lake targets, confirmed the presence of hydrothermal alteration systems hosted within a complex structural framework, which are leading indicators in the formation of basement-hosted high-grade uranium deposits.
The AGG survey successfully outlined multiple gravity low features across the Project (Figure 2). Most notably, the survey highlighted gravity lows coincident with key magnetic structures, gravity lows at the intersection point of several key magnetic structural features, gravity lows marginal to an electromagnetic conductor often coincident with one or more key magnetic structures, and isolated gravity low features.
In the Aero Lake target area, the survey highlighted several high-priority gravity anomalies adjacent to GKI002 where the highest uranium value of the 2023 drill program was intersected (0.27% U3O8 over 0.5 metres starting from 185 metres in GKI002). The anomalies identified adjacent to Aero Lake are interpreted to be related to the wide hydrothermal alteration zones intersected in drillhole GKI002. The survey highlighted key target areas extending along the structural corridor up to 8 kilometres to the south of GKI002 and approximately 3 kilometres to the north.
In the Preston Creek target area, the survey highlighted several high-priority anomalies coincident with a north striking Tabbernor fault that transects the regional basement conductor trend. Drill holes GKI004, GKI005, and GKI008 were completed at a bend in the conductor's axis where the electromagnetic data identified potential fault splays. Zones of hydrothermal alteration were encountered in these drillholes, commonly observed within or at the periphery of major structures. A gravity low anomaly of approximately 800 metre strike length was highlighted near GKI-005 that follows a north-northwest trending magnetic structure that has been confirmed by drilling. Gravity anomalies are also present in the footwall of the graphitic conductor tested by drillholes GKI-004, GKI-005, GKI-007, and GKI-008.
Next Steps
The Company is currently undertaking 3D inversion of the priority gravity anomalies associated with key structures identified during the survey. This modelling, integrated with the existing airborne magnetic, radiometric, and electromagnetic data, as well as drilling information from the recently completed program, will form the basis for a drill program planned to commence Q1 2024.
The Geikie project is currently being sole-funded by Basin Energy Limited (ASX: BSN) under an option earn-in agreement with the Company.
CanAlaska CEO, Cory Belyk, comments, "This gravity survey has highlighted new target areas on the Geikie project that correlate with targets derived from other datasets, and importantly, the uranium mineralization encountered in the second ever drillhole completed on the project. It is anticipated these new targets will be a focus of the drilling program that will begin in Q1 of next year led by our partner, Basin Energy. We look forward to getting back on the ground with the drill and testing these high value targets with the drill-bit."
Other News
CanAlaska will be attending the 121 Mining Investment event in London on November 20th and 21st. Visit our team and learn more about our high-grade uranium discovery and our 2024 exploration plans. 121 Mining Investment London
About CanAlaska Uranium
CanAlaska Uranium Ltd. (TSXV: CVV) (OTCQX: CVVUF) (FSE: DH7) holds interests in approximately 350,000 hectares (865,000 acres), in Canada's Athabasca Basin - the "Saudi Arabia of Uranium." CanAlaska's strategic holdings have attracted major international mining companies. CanAlaska is currently working with Cameco and Denison at two of the Company's properties in the Eastern Athabasca Basin. CanAlaska is a project generator positioned for discovery success in the world's richest uranium district. The Company also holds properties prospective for nickel, copper, gold and diamonds. For further information visit www.canalaska.com.
The Qualified Person under National Instrument 43-101 Standards of Disclosure for Mineral Projects for this news release is Nathan Bridge, MSc., P. Geo., Vice-President Exploration for CanAlaska Uranium Ltd., who has reviewed and approved its contents.
On behalf of the Board of Directors
"Cory Belyk"
Cory Belyk, P.Geo., FGC
CEO, President and Director
CanAlaska Uranium Ltd.
Contacts:
Cory Belyk, CEO and President
Tel: +1.604.688.3211 x 138
Email: cbelyk@canalaska.com
General Enquiry
Tel: +1.604.688.3211
Email: info@canalaska.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-looking information
All statements included in this press release that address activities, events or developments that the Company expects, believes or anticipates will or may occur in the future are forward-looking statements. These forward-looking statements involve numerous assumptions made by the Company based on its experience, perception of historical trends, current conditions, expected future developments and other factors it believes are appropriate in the circumstances. In addition, these statements involve substantial known and unknown risks and uncertainties that contribute to the possibility that the predictions, forecasts, projections and other forward-looking statements will prove inaccurate, certain of which are beyond the Company's control. Readers should not place undue reliance on forward-looking statements. Except as required by law, the Company does not intend to revise or update these forward-looking statements after the date hereof or revise them to reflect the occurrence of future unanticipated events.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/187566
News Provided by Newsfile via QuoteMedia
CanAlaska Uranium Ltd. and Core Nickel Corp. Announce Closing of Spin-Out Plan of Arrangement
CanAlaska Uranium Ltd. (TSXV: CVV) (OTCQX: CVVUF) (FSE: DH7N) ("CanAlaska" or the "Company") and Core Nickel Corp. ("Core Nickel") are pleased to announce that further to CanAlaska's press releases dated September 5, 2023 and October 26, 2023, the plan of arrangement spin-out transaction (the "Arrangement") has closed effective November 10, 2023 (the "Effective Date").
Completion of the Arrangement, as set forth in the arrangement agreement dated September 1, 2023 (the "Arrangement Agreement"), entered into between the CanAlaska and Core Nickel, was approved by the shareholders of CanAlaska (the "CanAlaska Shareholders") on October 25, 2023; by a Final Order granted by the Supreme Court of British Columbia on October 31, 2023, in accordance with Part 9 of the Business Corporations Act (British Columbia), and accepted by the TSX Venture Exchange (the "TSXV").
Pursuant to the Arrangement Agreement, on the Effective Date:
CanAlaska transferred the following assets to Core Nickel in consideration for 24,997,844 common shares of Core Nickel (the "Core Nickel Shares"):
five (5) mineral properties commonly referred to as the Halfway Lake, Resting Lake, Hunter, Mel and Odei River properties; and
$1,000,000 cash;
the existing common shares of CanAlaska Creek were re-designated as CanAlaska Class A Shares (the "CanAlaska Class A Shares") and CanAlaska created a new class of common shares known as the "New CanAlaska Common Shares";
each CanAlaska Class A Share issued and outstanding as of the close of business on November 9, 2023, was exchanged for one New CanAlaska Common Share and 0.19987 of one Core Nickel Share and thereafter the CanAlaska Class A Shares were cancelled;
all outstanding CanAlaska warrants issued and outstanding as of the close of business on November 9, 2023, were adjusted to allow holders to acquire, upon exercise, one New CanAlaska Common Share and 0.19987 of one Core Nickel Share, such that up to an aggregate of 6,137,012 Core Nickel Shares may be issued if all outstanding warrants are exercised;
all holders of CanAlaska options outstanding as of the close of business on November 9, 2023, received 0.19987 of one Core Nickel option with each whole option entitling the holder therefore to purchase one Core Nickel Share, such that up to an aggregate of 2,497,334 Core Nickel Shares may be issued if all such options are exercised;
Core Nickel became a reporting issuer in British Columbia, Alberta, Ontario and Newfoundland and Labrador; and
CanAlaska retained its interests in all other properties in its portfolio and remains listed on the TSXV and continues to trade under the trading symbol "CVV" as a junior resource company.
As of the Effective Date, the board of directors, officers and audit committee members of Core Nickel are as follows:
| Name of Director or Officer: | Position(s) with Core Nickel. |
| Misty Urbatsch | CEO, President, Director & member of audit committee |
| Harry Chan | CFO & Corporate Secretary |
| Shane Shircliff | Director & chair of audit committee |
| Karen Lloyd | Director & member of audit committee |
| Cory Belyk | Director |
Â
Core Nickel has received conditional approval to list the Core Nickel Shares on the Canadian Securities Exchange ("CSE"). Final listing approval will be subject to Core Nickel satisfying all of the listing conditions of the CSE. Core Nickel will announce by way of a further press release the date on which trading of the Core Nickel Shares will commence, which is expected to be in the next couple of weeks. The trading symbol for the Core Nickel Shares will be "CNCO". Further details regarding Core Nickel will be contained in Core Nickel's CSE Form 2A Listing Statement, which will be made available under Core Nickel's profile on SEDAR+ at www.sedarplus.ca and under Core Nickel's profile on the CSE's website at www.thecse.com on or immediately prior to the listing date.
The existing common shares of CanAlaska are expected to be delisted from the TSXV as of the close of business on November 13, 2023. The New CanAlaska Shares are expected to commence trading on the TSXV at the market opening on November 14, 2023. The CUSIP numbers for the New CanAlaska Shares and the Core Nickel Shares will be 13709C100 and 21873D101, respectively.
Olympia Trust Company ("Olympia Trust") will forward replacement certificates or DRS Advice Statements to each CanAlaska shareholder that is entitled to receive certificates or DRS Advice Statements, representing their allotted number of New CanAlaska Shares and Core Nickel Shares in accordance with the Arrangement. Letters of transmittal have been mailed to registered holders of common shares of CanAlaska, which must be completed and returned to Olympia Trust together with certificates representing their shares of CanAlaska at the address specified in the letter of transmittal, in order for CanAlaska shareholders to receive New CanAlaska Shares and Core Nickel Shares following the Effective Date. A copy of the letter of transmittal is also available under the Company's profile on SEDAR+ at www.sedarplus.ca.
For more information on the Arrangement, see the Company's management information circular dated September 13, 2023, filed under the Company's profile on SEDAR+ at www.sedarplus.ca on October 2, 2023.
Misty Urbatsch, Chief Executive Officer and President of Core Nickel stated the following: "It has been an absolute pleasure working closely with the CanAlaska team to spin out Core Nickel into its own company. CanAlaska shareholders now have a solid investment in a new clean vehicle focused on growing and developing the tier-one nickel assets CanAlaska has assembled in the prolific Thompson Nickel Belt, which includes the Mel deposit that has a historical NI43-101 compliant Indicated nickel resource of 82,000,000 pounds. By passing the baton onto the Core Nickel management team, CanAlaska is providing us with a fantastic opportunity to build something remarkable for Core Nickel's newly acquired shareholders. Core Nickel is excited to embark on the journey of exploring our 100% owned tier-one nickel assets with an innovative exploration strategy driven by sound science focused on discovery. By unlocking the potential of our nickel asset, Core Nickel aims to support the ongoing efforts to increase the supply of responsibly sourced nickel, contributing to a net-zero future."
Cory Belyk, Chief Executive Officer and President of CanAlaska stated the following: "This is another significant milestone achieved for CanAlaska and Core Nickel. CanAlaska shareholders will now have shares in a new company focussed on discovery of a nickel deposit in one of the best districts to find nickel in North America. This is the culmination of years of work by CanAlaska to assemble this portfolio of projects which include a substantial historical NI43-101 compliant Indicated nickel resource on which Core Nickel can build upon with further expansion and discoveries. It is rare to have a well-structured new company with in-ground resources defined next to world-class production centres like Vale's Thompson operation in Manitoba, Canada."
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States of America. The securities have not been and will not be registered under the United States Securities Act of 1933 (the "1933 Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons (as defined in the 1933 Act) unless registered under the 1933 Act and applicable state securities laws, or an exemption from such registration is available.
About CanAlaska Uranium
CanAlaska Uranium Ltd. (TSXV: CVV) (OTCQX: CVVUF) (FSE: DH7N) holds interests in approximately 350,000 hectares (865,000 acres), in Canada's Athabasca Basin – the "Saudi Arabia of Uranium." CanAlaska's strategic holdings have attracted major international mining companies. CanAlaska is currently working with Cameco and Denison at two of the Company's properties in the Eastern Athabasca Basin. CanAlaska is a project generator positioned for discovery success in the world's richest uranium district. The Company also holds properties prospective for nickel, copper, gold and diamonds. For further information visit www.canalaska.com.
The Qualified Person under National Instrument 43-101 Standards of Disclosure for Mineral Projects for this news release is Nathan Bridge, MSc., P. Geo., Vice-President Exploration for CanAlaska Uranium Ltd., who has reviewed and approved its contents.
On behalf of the Board of Directors
"Cory Belyk"
Cory Belyk, P.Geo., FGC
CEO, President and Director
CanAlaska Uranium Ltd.
Contacts:
Cory Belyk, CEO and President
Tel: +1.604.688.3211 x 138
Email:Â cbelyk@canalaska.com
General Enquiry
Tel: +1.604.688.3211
Email:Â info@canalaska.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-looking information
All statements included in this press release that address activities, events or developments that the Company expects, believes or anticipates will or may occur in the future are forward-looking statements. These forward-looking statements involve numerous assumptions made by the Company based on its experience, perception of historical trends, current conditions, expected future developments and other factors it believes are appropriate in the circumstances. In addition, these statements involve substantial known and unknown risks and uncertainties that contribute to the possibility that the predictions, forecasts, projections and other forward-looking statements will prove inaccurate, certain of which are beyond the Company's control. Readers should not place undue reliance on forward-looking statements. Except as required by law, the Company does not intend to revise or update these forward-looking statements after the date hereof or revise them to reflect the occurrence of future unanticipated events.
Not for distribution to United States newswire services or for dissemination in the United States.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/187038
News Provided by Newsfile via QuoteMedia
Laramide Releases Final Results from 2024 Drill Campaign at Westmoreland; Updated Resource Estimate on Track for Q1 Delivery
Highlights:
- Laramide's largest program ever with 106 holes completed
- Multiple targets tested including infill and extensional drilling of known zones and greenfield targets in both Queensland and the Northern Territory
- Consistent observation from results demonstrates the potential and scope for broad mineralisation styles enveloping narrow high-grade intercepts
- The consistency and scalability underscore economic viability and reinforce Westmoreland's position as a potentially important future source of global uranium supply
- Resource expansion potential is largely wide open with many follow-up targets warranting large-scale future exploration campaigns
Laramide Resources Ltd. ( "Laramide" or the "Company" ) (TSX: LAM) (ASX: LAM) (OTCQX: LMRXF), a uranium mine development and exploration company with globally significant projects in the United States Australia and Kazakhstan is pleased to report a summary of the 2024 drilling campaign completed at the Westmoreland Uranium Project in Queensland, Australia ( "Westmoreland" ). The 2024 drill program has concluded with successful results confirming the high-quality of the Westmoreland uranium deposit and supporting a Global Mineral Resource Estimate Update expected by the end of Q1 2025.
The 2024 Drill program was designed to improve the Westmoreland Mineral Resource through extensional and infill drilling of uranium mineralisation and to gain a deeper understanding of the potential for gold mineralisation within the system. As well, following up on Laramide's past campaigns, targets were identified to explore satellite uranium deposits with long-term outlook for sustained project growth. And finally, to advance on-ground access logistics and targeting within the Murphy Project in the Northern Territory (see Figure 1 for scope of the project area).
Significantly, results from the 2024 drilling program returned broad mineralisation from each prospect area. Notably, many of these wide intercepts envelope narrow high-grade intercepts found across the Westmoreland project area (see Figure 2).
Results for eleven holes from infill drilling at Junnagunna, three holes drilled at Amphitheatre, and two exploration holes from the Southern Comfort-Mageera Trend in the Northern Territory have recently been received. Receipt of these results conclude a successful program. The 2024 drilling campaign across the broader Westmoreland Project was completed on the 4th of November and comprised 106 holes (includes 60 RC and 46 DD) for 11,263 meters, across multiple targets.
Commenting on the results, Laramide's Vice-President of Exploration Rhys Davies said:
"The 2024 Drill Campaign represents Laramide's most ambitious effort to date, with 106 holes for over 11,000 metres drilled across the Westmoreland Project. This aggressive approach was designed to demonstrate the scalability and quality of the Westmoreland asset, reinforcing our commitment to advancing to its full potential."
Figure 2: Map showing examples of broad mineralised intercepts from 2024 drilling at key Resource Target areas Huarabagoo, Junnagunna and the link zone (note: JG24DD010 results recently received, all other results previously announced 1 )
______________________________ |
Junnagunna
The Junnagunna deposit, located in the structural Redtree corridor, is included in the restated 2016 Westmoreland Mineral Resource Estimate 2 .
The 2024 drilling at Junnagunna was designed to extend and infill data gaps within the deposit (Figure 3). The reported results continue to support the model and confirm lateral continuity but also vertical continuity, reflecting narrow higher grading intercepts within broad mineralizing envelopes.
- JG24DD004 – 8.00m @ 325.61 ppm U 3 O 8 from 26.00m , including 1.00m @ 1,297.12 ppm U 3 O 8 from 28.00m
- JG24DD010 – 10.00m @ 693.90 ppm U 3 O 8 from 32.00m , including 2.00m @ 2,617.82 ppm U 3 O 8 from 33.00m
JG24DD003 confirms continuity of mineralisation intersected in historical drilling along strike to the north-east. JG24DD008 intersected the dyke feeder system however JG24DD009 and JG24DD010 (drilled along the fence line to the north – see Figure 3) intersected notable mineralization but did not intersect the dyke. Mineralisation remains open to the north-east and future exploration drilling could delineate the extents.
____________________________ |
Amphitheatre
Drilling in 2024 comprised a total of 8 diamond holes ( 1,334.55m ). Initial 5 holes (AMD008-AMD012 previously reported) targeted extensions to uranium mineralisation both laterally and down dip and successfully identified new zones for follow up. The final holes (AMD013-AMD015) followed up on potential blind mineralisation continuing to the north, obscured by cover.
Drilling successfully intersected mineralisation near surface and at depth and indicates potential for broad mineralizing zones to the north of Amphitheatre.
- AMD013 – 3.00m @ 853.74 ppm U 3 O 8 and 0.15 g/t Au from 112.00m , including 1.00m @ 1,450.42 ppm U 3 O 8 and 0.38 g/t Au from 114.00m
Importantly, AMD014 intercepted 10 discrete zones of sandstone hosted uranium mineralisation 3 O 8 (Table 2 and Figure 4) located 500 meters to the north of AMD013 presenting a significant exploration target, buried under alluvial cover, which will be subject to more exploration drilling in 2025.
Southern Comfort/Mageera
Two holes totaling 303.55 m were completed at the Northern Territory "Southern Comfort" prospect which is situated at the base of a northeast trending fault, known as the JN Fault, and is the focal feature of the Mageera Zone. The geological setting is analogous to the Westmoreland Uranium Deposit. Offset to the southwest of the JN fault is the Southern Comfort Lineament ("SCL"). Historical drilling has lightly tested this region, however limited modern exploration has occurred since.
The drill program sought to delineate the SCL extensions and test the conformity related uranium, vanadium and REE potential of the Seigal Volcanics-Westmoreland Conglomerate.
SC24DD001 peaked at 260.04 ppm at U 3 O 8 & 1,082.19 ppm V 2 O 5 from 8.00m along the faulted contact between Seigal Volcanics-Westmoreland Conglomerate faulted contact.
SC24DD002 was funded by the Northern Territory Geological Survey as part of the Geophysical and Drilling Collaboration program. Samples were subject to multi-element analysis for uranium and other critical minerals such as vanadium and rare earth elements (REEs) that might be associated with the Southern Comfort-Mageera trend. Drilling intersected an overlying Seigal Volcanics in faulted contact with the Westmoreland Conglomerate, hosting a dolerite dyke. Uranium, minor gold and moderate vanadium confirms enrichment at this contact, successfully testing the geological concept ( 0.4m @ 346.68ppm U 3 O 8 and 1238.93ppm V 2 O 5 from 20.4m depth). No Rare Earth anomalism was noted.
Results from both holes are considered a technical success in identifying anomalism along the conformity and further work is planned at Southern Comfort and the Mageera Zone in 2025.
Qualified/Competent Person
The information in this announcement relating to Exploration Results is based on information compiled or reviewed by Mr. Rhys Davies , a contractor to the Company. Mr. Davies is a Member of The Australasian Institute of Geoscientists and has sufficient experience which is relevant to the style of mineralization and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the JORC 2012 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves', and is a "Qualified Person" as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects. Mr. Davies consents to the inclusion in this announcement of the matters based on his information in the form and context in which it appears.
Follow us on Twitter @LaramideRes
About Laramide Resources Ltd.
Laramide is focused on exploring and developing high-quality uranium assets in Tier-1 uranium jurisdictions. The company's portfolio comprises predominantly advanced uranium projects in districts with historical production or superior geological prospectivity. The assets have been carefully chosen for their size and production potential, and the two large development projects are considered to be late-stage, low-technical risk projects. As well, Laramide has expanded its pipeline with strategic exploration in Kazakhstan where the company is exploring over 5,500 km 2 of the prolific Chu-Sarysu Basin for world class roll-front deposits which are amenable to in-situ recovery.
Forward-looking Statements and Cautionary Language
This release includes certain statements that may be deemed to be "forward-looking statements." All statements in this release, other than statements of historical facts, that address events or developments that the management of the Company expect, are forward-looking statements. Forward-looking statements are frequently, but not always, identified by words such as "expects", "anticipates", "believes", "plans", "projects", "intends", "estimates", "envisages", "potential", "possible", "strategy", "goals", "objectives", or variations thereof or stating that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved, or the negative of any of these terms and similar expressions. Actual results or developments may differ materially from those in forward-looking statements. Laramide disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, save and except as may be required by applicable securities laws.
Since forward-looking information addresses future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. These include, but are not limited to, exploration and production for uranium; delays or changes in plans with respect to exploration or development projects or capital expenditures; the uncertainty of resource estimates; health, safety and environmental risks; worldwide demand for uranium; uranium price and other commodity price and exchange rate fluctuations; environmental risks; competition; incorrect assessment of the value of acquisitions; ability to access sufficient capital from internal and external sources; and changes in legislation, including but not limited to tax laws, royalties and environmental regulations.
Table 1: Drill Collar Details | ||||||||||
Prospect | Hole ID | GDA_Easting | GDA_Northing | RL (m) | Depth (m) | Grid Azi | Dip | Hole type | Drilling | Drilling completed |
AMPHITHEATRE | AMD008 | 209879 | 8074908 | 93 | 241.6 | 90 | -60 | DD | 01/07/2024 | 09/07/2024 |
AMPHITHEATRE | AMD009 | 209928 | 8074816 | 90 | 202.9 | 270 | -80 | DD | 10/07/2024 | 15/07/2024 |
AMPHITHEATRE | AMD010 | 209954 | 8074725 | 90 | 203.4 | 90 | -60 | DD | 15/07/2024 | 26/07/2024 |
AMPHITHEATRE | AMD011 | 209958 | 8074620 | 99 | 200.3 | 90 | -60 | DD | 26/07/2024 | 02/08/2024 |
AMPHITHEATRE | AMD012 | 209928 | 8074820 | 90 | 84.5 | 90 | -55 | DD | 03/08/2024 | 05/08/2024 |
AMPHITHEATRE | AMD013 | 209700 | 8074902 | 94 | 150.55 | 90 | -50 | DD | 29/10/2024 | 31/10/2024 |
AMPHITHEATRE | AMD014 | 209906 | 8075341 | 68 | 125.65 | 80 | -50 | DD | 01/11/2024 | 02/11/2024 |
AMPHITHEATRE | AMD015 | 209428 | 8075270 | 67 | 125.65 | 94 | -50 | DD | 02/11/2024 | 04/11/2024 |
JUNNAGUNNA | JG24DD001 | 197607 | 8066711 | 78 | 158.05 | 135 | -50 | DD | 02/10/2024 | 05/10/2024 |
JUNNAGUNNA | JG24DD002 | 197299 | 8066964 | 77 | 98.6 | 139 | -50 | DD | 03/10/2024 | 05/10/2024 |
JUNNAGUNNA | JG24DD003 | 197120 | 8067186 | 77 | 104.6 | 135 | -50 | DD | 06/10/2024 | 13/10/2024 |
JUNNAGUNNA | JG24DD004 | 196897 | 8066059 | 78 | 114.4 | 135 | -55 | DD | 08/10/2024 | 11/10/2024 |
JUNNAGUNNA | JG24DD005 | 196932 | 8066142 | 78 | 117.5 | 135 | -55 | DD | 12/10/2024 | 14/10/2024 |
JUNNAGUNNA | JG24DD006 | 196946 | 8066019 | 78 | 120.1 | 135 | -55 | DD | 13/10/2024 | 16/10/2024 |
JUNNAGUNNA | JG24DD007 | 196977 | 8066091 | 80 | 114.3 | 131 | -55 | DD | 15/10/2024 | 18/10/2024 |
JUNNAGUNNA | JG24DD008 | 197030 | 8066051 | 81 | 120.7 | 135 | -55 | DD | 19/10/2024 | 21/10/2024 |
JUNNAGUNNA | JG24DD009 | 197127 | 8066101 | 78 | 131.7 | 135 | -55 | DD | 18/10/2024 | 20/10/2024 |
JUNNAGUNNA | JG24DD010 | 197019 | 8066195 | 78 | 120.1 | 135 | -55 | DD | 17/10/2024 | 18/10/2024 |
JUNNAGUNNA | JG24DD011 | 197089 | 8065993 | 79 | 126.4 | 135 | -55 | DD | 22/10/2024 | 25/10/2024 |
JUNNAGUNNA | JG24RC001 | 196986 | 8065965 | 77 | 114 | 317 | -75 | RC | 01/09/2024 | 01/10/2024 |
SOUTHERN COMFORT | SC24DD001* | 817207 | 8058777 | 112 | 101.65 | 140 | -60 | DD | 23/10/2024 | 24/10/2024 |
SOUTHERN COMFORT | SC24DD002* | 816005 | 8058560 | 119 | 201.9 | 144 | -55 | DD | 24/10/2024 | 27/10/2024 |
* drill collar co-ordinates are in GDA94 Zone 53 | ||||||||||
Table 2: Significant intercepts >100ppm U 3 O 8 | |||||
Hole | From | To | Length (m) | U 3 0 8 ppm | Au g/t |
JG24DD001 | 38 | 39.3 | 1.3 | 303.05 | 0.01 |
JG24DD002 | No Significant Intercepts | ||||
JG24DD003 | 16 | 17 | 1 | 137.97 | 0.03 |
JG24DD003 | 50 | 51 | 1 | 153.30 | 0.01 |
JG24DD004 | 26 | 34 | 8 | 325.61 | 0.01 |
including | 28 | 29 | 1 | 1297.12 | 0.01 |
JG24DD005 | 24.25 | 28 | 3.75 | 491.22 | 0.01 |
JG24DD006 | 35 | 36 | 1 | 127.94 | 0.01 |
JG24DD006 | 41 | 44 | 3 | 1192.17 | 0.01 |
including | 43 | 44 | 1 | 2606.03 | 0.01 |
JG24DD007 | 20 | 22 | 2 | 136.79 | 0.01 |
JG24DD007 | 25 | 28 | 3 | 1773.91 | 0.05 |
including | 27 | 28 | 1 | 4610.67 | 0.12 |
JG24DD008 | 42 | 43 | 1 | 265.32 | 0.01 |
JG24DD008 | 65 | 66 | 1 | 707.52 | 0.01 |
JG24DD008 | 69 | 73 | 4 | 255.13 | 0.01 |
JG24DD008 | 77 | 78 | 1 | 449.81 | 0.01 |
JG24DD008 | 89 | 95 | 6 | 394.93 | 0.01 |
JG24DD009 | 30 | 32 | 2 | 392.67 | 0.03 |
JG24DD009 | 53 | 54 | 1 | 136.79 | 0.01 |
JG24DD010 | 32 | 42 | 10 | 693.90 | 0.01 |
including | 33 | 35 | 2 | 2617.82 | 0.01 |
JG24DD010 | 45 | 46 | 1 | 103.42 | 0.01 |
JG24DD010 | 78 | 80 | 2 | 3177.94 | 0.01 |
JG24DD011 | No Significant Intercepts | ||||
JG24RC001 | No Significant Intercepts | ||||
AMD013 | 4 | 5 | 1 | 126.17 | 0.01 |
AMD013 | 47 | 52 | 5 | 152.31 | 0.01 |
AMD013 | 85 | 90 | 5 | 148.08 | 0.01 |
AMD013 | 103 | 104 | 1 | 159.19 | 0.01 |
AMD013 | 112 | 115 | 3 | 853.74 | 0.15 |
including | 114 | 115 | 1 | 1450.42 | 0.38 |
AMD014 | 19 | 21 | 2 | 153.00 | 0.02 |
AMD014 | 37 | 38 | 1 | 101.76 | 0.005 |
AMD014 | 48 | 50 | 2 | 143.57 | 0.055 |
AMD014 | 66 | 68 | 2 | 209.90 | 0.005 |
AMD014 | 75 | 77 | 2 | 234.07 | 0.055 |
AMD014 | 80 | 82 | 2 | 267.68 | 0.02 |
AMD014 | 87 | 88 | 1 | 103.42 | 0.005 |
AMD014 | 93 | 94 | 1 | 110.49 | 0.005 |
AMD014 | 103 | 104 | 1 | 108.13 | 0 |
AMD014 | 118 | 119 | 1 | 114.85 | 0.005 |
AMD015 | 32 | 33 | 1 | 237.02 | 0.01 |
AMD015 | 71 | 72 | 1 | 172.16 | 0.01 |
AMD015 | 109 | 111 | 2 | 122.99 | 0.03 |
AMD015 | 118 | 119 | 1 | 212.85 | 0.02 |
SC24DD001 | No Significant Intercepts | ||||
SC24DD002 | 20.4 | 23 | 2.6 | 280.76 | 0.11 |
* Included intercepts are above >1000 ppm U 3 O 8 # Â intercept is above >1% U 3 O 8 | |||||
Table 3: Significant intercepts >0.1 g/t Au | |||||
Hole | From | To | Length (m) | U 3 0 8 ppm | Au g/t |
JG24DD005 | 57 | 60 | 3 | 14.66 | 0.13 |
JG24DD005 | 103 | 104.35 | 1.35 | 4.60 | 0.30 |
JG24DD007 | 27 | 28 | 1 | 4610.67 | 0.12 |
JG24DD007 | 85 | 88 | 3 | 1.38 | 0.37 |
including | 86 | 87 | 1 | 1.42 | 0.73 |
JG24DD007 | 91 | 92 | 1 | 1.30 | 0.40 |
JG24DD008 | 117 | 118 | 1 | 13.56 | 0.20 |
JG24DD011 | 9 | 10 | 1 | 2.36 | 0.19 |
SC24DD002 | 22.1 | 23 | 0.9 | 217.56 | 0.19 |
AMD013 | 97 | 98 | 1 | 49.05 | 0.11 |
AMD013 | 114 | 115 | 1 | 1450.42 | 0.38 |
AMD015 | 85 | 86 | 1 | 8.73 | 0.27 |
* Included intercepts are above >0.5g/t Au; with intercepts above >1g/t Au | |||||
Table 4: Significant intercepts >200 ppm V | |||||
Hole | From | To | Length (m) | U 3 0 8 ppm | V 2 O 5 ppm |
SC24DD001 | 0 | 9 | 9 | 34.28 | 437.02 |
including | 4 | 5 | 1 | 3.89 | 578.40 |
And | 8 | 9 | 1 | 260.04 | 1082.19 |
SC24DD002 | 0 | 22.1 | 22.1 | 30.26 | 373.51 |
including | 14 | 15 | 1 | 2.59 | 526.63 |
and | 20.4 | 20.8 | 0.4 | 346.68 | 1238.93 |
* Included intercepts are above >500 ppm V 2 O 5 | |||||
SOURCE Laramide Resources Ltd.
View original content to download multimedia: http://www.newswire.ca/en/releases/archive/February2025/21/c4630.html
News Provided by Canada Newswire via QuoteMedia
Cameco Announces 2024 Results; Strong Performance Across All Segments; Westinghouse Distribution; Strategy Centered on Marketing, Production, Financial Discipline Expected to Generate Full-Cycle Value; Positive Outlook for Nuclear Energy
Cameco( TSX: CCO; NYSE: CCJ) today reported its consolidated financial and operating results for the fourth quarter and year ended December 31, 2024, in accordance with International Financial Reporting Standards (IFRS).
�Our 2024 full-year financial performance benefitted from strong fourth quarter results delivered by our uranium and Westinghouse segments," said Tim Gitzel, Cameco's president and CEO. "Although both net earnings and adjusted net earnings in 2024 were lower than in 2023 primarily due to the impact of purchase accounting related to the Westinghouse acquisition, our other key financial metrics improved significantly. We expect our strong financial performance to continue in 2025, driven by the supportive market conditions we are seeing throughout the fuel cycle and across the nuclear sector, and through the continued benefits flowing from our investment in Westinghouse. Over the coming year, we expect to continue investing to help ensure reliability and sustainability of our existing operations, while positioning ourselves for future production flexibility and growth growth that will be strategic, deliberate, disciplined, and with a focus on generating full-cycle value.
"It was another positive year for the nuclear industry, with support for both existing nuclear reactors and nuclear new build continuing to grow. In fact, we believe the outlook for nuclear power and nuclear fuel fundamentals is more favourable than it has been for decades. Continued global geopolitical uncertainty is bringing energy security and national security into focus, which puts nuclear in what we believe is a durable growth mode, and as we see that growth translate into demand and a cycle of replacement rate contracting, we too expect to be back in durable growth mode. We believe the risks to uranium and nuclear fuel supplies and services are greater than the risks to demand, and we expect that will create a renewed focus on ensuring long-term availability of nuclear fuel supplies.
"This past year in our uranium segment, despite relatively muted long-term contracting volumes as utilities focused first on securing enrichment and conversion services, we continued to negotiate off-market contracts and selectively add to our long-term portfolio, which now totals approximately 220 million pounds. That only represents about a quarter of our current reserve and resource base, meaning we can be strategically patient in our contracting discussions, and we are retaining exposure to the improving demand from our customers. We continue to have a large and growing pipeline of uranium business under negotiation and our focus remains on obtaining market-related pricing mechanisms that benefit from a constructive price environment, while also providing adequate downside protection. In addition, strong demand driving prices to historic highs in the conversion market is being captured in additional long-term contracts in our fuel services segment, with total contracted volumes of approximately 85 million kgU of UF 6 supporting our fuel services operations for years to come.
"We have more than 35 years of experience operating across the fuel cycle, and we have designed our strategy of full-cycle value capture to be resilient. Given the nature of nuclear fuel contracting and our long-term contract book, we have good visibility into when and where we need to deliver material, allowing us to carefully plan and prudently invest in our existing and potential supply sources, well into the future. When we consider the supply tools and flexibility we have in place to self-manage risk and to work with our customers to satisfy their ongoing fuel requirements, we can be selective and opportunistic with our sourcing of supply, including spot market purchases, and we can be disciplined when considering future investments in our primary supply pipeline.
"The positive market conditions that we expect to benefit our core uranium and fuel services businesses are also presenting significant future growth opportunities for Westinghouse, which we own with our partner Brookfield. In 2024, we saw continued interest in AP1000 ® new build opportunities in Poland, Bulgaria, Ukraine and Slovenia. In early 2025, Westinghouse announced a settlement agreement in its technology and export dispute with Korea Electric Power Corporation and Korea Hydro & Nuclear Power Co., Ltd., which resolves the dispute and establishes a framework for additional deployments outside of South Korea, to the mutual and material benefit of Westinghouse, KEPCO and KHNP.
"Cameco will continue to align our production with our contract portfolio and market opportunities, demonstrating that we continue to responsibly manage our supply in accordance with our customers' needs. We will continue to look for opportunities to improve operational effectiveness, improve our safety performance and reduce our impact on the environment, including through the use of digital and automation technologies to allow us to operate our assets with more flexibility and efficiency. Thanks to our disciplined strategy, our balance sheet is strong, and we expect it will enable us to continue executing our strategy while self-managing risk, including risks related to global macro-economic uncertainty and volatility, and uncertain trade policy decisions.
"We are a responsible, commercial supplier with long-lived, tier-one assets, and a proven operating track record. We are invested across the nuclear fuel cycle and believe we have the right strategy to help achieve a secure energy future in a manner that reflects our values. Embedded in our decisions is a commitment to address the risks and opportunities that we believe will make our business sustainable over the long term."
Summary of Q4 and 2024 results and developments:
- Annual net earnings of $172 million; adjusted net earnings of $292 million: Annual results reflected a return to our tier-one production level, with higher sales volumes and an improvement in average realized prices as market conditions continued to improve, catalyzed by security of supply concerns. In 2024, we generated $905 million in cash from operations with full year adjusted EBITDA increasing by approximately 73% to over $1.5 billion compared to $884 million in 2023. Our 2024 annual results include $483 million in adjusted EBITDA from our investment in Westinghouse. Adjusted net earnings and adjusted EBITDA are non-IFRS measures.
- Fourth quarter net earnings of $135 million; adjusted net earnings of $157 million: Strong fourth quarter results in the uranium and Westinghouse segments contributed to the strong annual results. As expected, quarterly results were impacted by normal variations in contract deliveries and the timing of Westinghouse's customer requirements, which were heavily weighted to the fourth quarter in 2024. Adjusted net earnings is a non-IFRS measure.
- Strong adjusted EBITDA from Westinghouse: Westinghouse reported a full-year net loss of $218 million (our share) as expected, due to the impact of purchase accounting, which required the revaluation of its inventories based on market prices at time of acquisition, and the expensing of some other non-operating acquisition-related transition costs. The impact of these items was largely isolated to the first half of 2024 and are expected to have a smaller impact in future years, although the increased depreciation and amortization charges related to purchase accounting, will impact Westinghouse's net earnings on an ongoing basis. Our share of adjusted EBITDA, which we view as a measure that better reflects Westinghouse's underlying performance, was $483 million for the year. Due to normal variability in the timing of its customer requirements, and delivery and outage schedules, we saw stronger performance from the Westinghouse segment in the fourth quarter, which we expect again in the fourth quarter of 2025. See Our earnings from  Westinghouse in our annual MD&A for more information.
- Westinghouse technology export: In January 2025, Westinghouse reached a resolution in its technology and export dispute with Korea Electric Power Corporation and Korea Hydro & Nuclear Power Co., Ltd., which establishes a framework for additional deployments to the mutual and material benefit of all parties.
- Westinghouse distribution: In February 2025 we received $49 million (US), which represents our share of a $100 million (US) distribution paid by Westinghouse. This is the first distribution since the acquisition closed.
- Strong uranium and conversion segment performance: In our uranium segment, we delivered 33.6 million pounds of uranium at an average realized price of $79.70 per pound. Our share of production was 23.4 million pounds in 2024, slightly higher than our expectation of about 23.1 million pounds as a result of record annual production from the Key Lake mill. In our fuel services segment, we delivered 12.1 million kgU under contract at an average realized price of $37.87 per kgU, and produced 13.5 million kgU, which was within our guidance range for 2024.
- Record production at McArthur River/Key Lake: 2024 packaged production of 20.3 million pounds sets both a new annual production record for the Key Lake mill, as well as a world record for annual production from any uranium mill. The increased run rate was made possible in part by our off-cycle investments during care and maintenance in automation, digitization and optimization projects to improve the Key Lake mill. The mill also had access to sufficient ore feed material that included the ore mined at McArthur River in 2024 (which was lower than its plan), supplemented by broken ore inventory at McArthur River and Key Lake that was carried over from prior years and is now largely depleted. See Uranium – Tier-one operations – McArthur River/Key Lake in our 2024 annual MD&A.
- Lower JV Inkai production: Production at Inkai continued to be impacted by the ongoing supply chain issues in Kazakhstan, most notably, related to the stability of sulfuric acid deliveries. As a result, total 2024 production from Inkai on a 100% basis was 7.8 million pounds (3.6 million pounds our share), 0.6 million pounds lower than in 2023. Issues at Inkai carried into 2025 when production was halted on January 1 at the direction of Kazatomprom, the controlling partner in the JV, due to the delayed submission of certain regulatory documents to Kazakhstan's Ministry of Energy. Production resumed on January 23, 2025. Cameco and Kazatomprom continue to work with JV Inkai to determine the impact of the production suspension on the operation's 2025 production plans. If Inkai production and/or deliveries vary from our expectations, committed purchases may vary and we will rely on our other sources of supply. See Uranium – Tier-one operations – Inkai in our 2024 annual MD&A.
- Disciplined long-term contracting continues: As of December 31, 2024, in our uranium segment, we had commitments to deliver an average of about 28 million pounds of uranium per year from 2025 through 2029, with commitment levels higher than the average in 2025 through 2027, and lower than the average in 2028 and 2029. Our total portfolio of long-term contracts includes commitments for approximately 220 million pounds of uranium. We continue to have a large and growing pipeline of business under discussion. Our focus continues to be on obtaining market-related pricing mechanisms that benefit from a constructive price environment, while also providing adequate downside protection. In addition, with strong demand in the UF 6 conversion market, we were successful in adding new long-term contracts that bring our total contracted volumes to over 85 million kgU of UF 6 , underpinning our fuel services operations for years to come.
- Solid 2025 financial and operational outlook: In our uranium segment, we continued to execute our strategy in 2024, ramping up our tier-one assets and continuing to optimize performance and reliability. With continuing improvement of market conditions, the long-term contract book we have put in place, and an ongoing pipeline of both on and off-market contracting discussions, our plan is to produce 18 million pounds (100% basis) at each of McArthur River/Key Lake and Cigar Lake in 2025. We are also undertaking capital projects to help ensure reliability and sustainability of our existing operations, including projects to address aging infrastructure and potential bottlenecks at the Key Lake mill and the advancement of freezing at the McArthur River mine. While no decision on changes to future production levels has been made, we will continue to position ourselves for future production flexibility. Following the halt of production in January 2025 at Inkai, production plans for 2025 and subsequent years remain uncertain, and we remain in discussions with JV Inkai and our partner, Kazatomprom, to determine our purchase obligation for 2025. In our fuel services segment, we plan to produce between 13 million and 14 million kgU in 2025 to satisfy our book of long-term business for conversion and fuel services. As a result of these plans, we expect strong financial performance in 2025, including cash flow generation. See Outlook for 2025 and Uranium – Tier-one operations in our 2025 annual MD&A.
- Maintaining financial discipline and balanced liquidity to execute on strategy:
- Strong balance sheet: As of December 31, 2024, we had $600 million in cash and cash equivalents, and $1.3 billion in total debt. We successfully refinanced $500 million senior unsecured debentures in 2024. The refinanced debt matures in 2031 with credit spreads reflective of a higher credit rating than we have currently been assigned. In addition, we have a $1.0 billion undrawn credit facility, which matures October 1, 2028. We expect strong cash flow generation in 2025.
- Focused debt reduction: Thanks to our risk-managed financial discipline and strong cash flow generation, in 2024 we made repayments of $400 million (US) on the $600 million (US) floating-rate term loan that was used to finance the acquisition of Westinghouse. In January 2025, we made the final repayment of $200 million (US), extinguishing the term loan.
- JV Inkai dividend: In 2024, we received a cash dividend from JV Inkai totaling $129 million (US), net of withholdings. JV Inkai distributes excess cash, net of working capital requirements, to the partners as dividends. See Uranium – Tier-one operations – Inkai in our 2024 annual MD&A.
- Increased annual dividend: In November, the board of directors approved an increase to the annual dividend from $0.12 per common share in 2023, to $0.16 per common share in 2024. In addition, to recognize the return to our tier-one run rate, and in line with the principles of our capital allocation framework, we have recommended to our board of directors a dividend growth plan for consideration. Based on this plan, we expect an annual increase of at least $0.04 per common share in each of 2025 and 2026 to achieve a doubling of the 2023 dividend from $0.12 per common share, to $0.24, per common share.
Consolidated financial results
THREE MONTHS ENDED | YEAR ENDED | |||
CONSOLIDATED HIGHLIGHTS | DECEMBER 31 | DECEMBER 31 | ||
($ MILLIONS EXCEPT WHERE INDICATED) | 2024 | 2023 | 2024 | 2023 |
Revenue | 1,183 | 844 | 3,136 | 2,588 |
Gross profit | 250 | 133 | 783 | 562 |
Net earnings attributable to equity holders | 135 | 80 | 172 | 361 |
$ per common share (basic) | 0.31 | 0.18 | 0.40 | 0.83 |
$ per common share (diluted) | 0.31 | 0.18 | 0.39 | 0.83 |
Adjusted net earnings (non-IFRS) 1 | 157 | 108 | 292 | 383 |
$ per common share (adjusted and diluted) | 0.36 | 0.25 | 0.67 | 0.88 |
Adjusted EBITDA (non-IFRS) | 524 | 336 | 1,531 | 884 |
Cash provided by operations | 530 | 201 | 905 | 688 |
1 In 2024, we revised our calculation of adjusted net earnings to adjust for unrealized foreign exchange gains and losses as well as for share-based compensation because it better reflects how we assess our operational performance. We restated comparative periods to reflect this change. |
The 2024 annual financial statements have been audited; however, the 2023 fourth quarter and 2024 fourth quarter financial information presented is unaudited. You can find a copy of our 2024 annual MD&A and our 2024 audited financial statements on our website at cameco.com.
NET EARNINGS
The following table shows what contributed to the change in net earnings and adjusted net earnings (non-IFRS measure) in the three months and year ended December 31, 2024, compared to the same period in 2023.
CHANGES IN EARNINGS | THREE MONTHS ENDED | YEAR ENDED | |||||||
($ MILLIONS) | DECEMBER 31 | DECEMBER 31 | |||||||
IFRS | ADJUSTED | IFRS | ADJUSTED | ||||||
Net earnings - 2023 | 80 | 108 | 361 | 383 | |||||
Change in gross profit by segment | |||||||||
(we calculate gross profit by deducting from revenue the cost of products and services sold, and depreciation and amortization (D&A), net of hedging benefits) | |||||||||
Uranium | Impact from sales volume changes | 29 | 29 | 22 | 22 | ||||
Higher realized prices ($US) | 107 | 107 | 390 | 390 | |||||
Foreign exchange impact on realized prices | 11 | 11 | 26 | 26 | |||||
Higher costs | (30 | ) | (30 | ) | (203 | ) | (203 | ) | |
change – uranium | 117 | 117 | 235 | 235 | |||||
Fuel services | Impact from sales volume changes | - | - | 2 | 2 | ||||
Higher realized prices ($Cdn) | 13 | 13 | 27 | 27 | |||||
Higher costs | (16 | ) | (16 | ) | (47 | ) | (47 | ) | |
change – fuel services | (3 | ) | (3 | ) | (18 | ) | (18 | ) | |
Other changes | |||||||||
Higher administration expenditures | (18 | ) | (18 | ) | (7 | ) | (7 | ) | |
Higher exploration expenditures | (7 | ) | (7 | ) | (17 | ) | (17 | ) | |
Change in reclamation provisions | 70 | 7 | 30 | (3 | ) | ||||
Change in gains on derivatives | (198 | ) | (6 | ) | (221 | ) | (10 | ) | |
Change in unrealized foreign exchange gains or losses | 50 | (5 | ) | 50 | (6 | ) | |||
Change in earnings from equity-accounted investees | 10 | (32 | ) | (165 | ) | (122 | ) | ||
Change in share-based compensation | - | 5 | - | (19 | ) | ||||
Lower finance income | (16 | ) | (16 | ) | (91 | ) | (91 | ) | |
Higher finance costs | 16 | 16 | (31 | ) | (31 | ) | |||
Change in income tax recovery or expense | 29 | (14 | ) | 41 | (7 | ) | |||
Other | 5 | 5 | 5 | 5 | |||||
Net earnings - 2024 | 135 | 157 | 172 | 292 | |||||
Non-IFRS measures
The non-IFRS measures referenced in this document are supplemental measures, which are used as indicators of our financial performance. Management believes that these non-IFRS measures provide useful supplemental information to investors, securities analysts, lenders and other interested parties in assessing our operational performance and our ability to generate cash flows to meet our cash requirements. These measures are not recognized measures under IFRS, do not have standardized meanings, and are therefore unlikely to be comparable to similarly-titled measures presented by other companies. Accordingly, these measures should not be considered in isolation or as a substitute for the financial information reported under IFRS. We are not able to reconcile our forward-looking non-IFRS guidance because we cannot predict the timing and amounts of discrete items, which could significantly impact our IFRS results. The following are the non-IFRS measures used in this document.
ADJUSTED NET EARNINGS
Adjusted net earnings (ANE) is our net earnings attributable to equity holders, adjusted for non-operating or non-cash items such as gains and losses on derivatives, unrealized foreign exchange gains and losses, share-based compensation, and adjustments to reclamation provisions flowing through other operating expenses, that we believe do not reflect the underlying financial performance for the reporting period. In 2024, we revised our calculation of adjusted net earnings to adjust for unrealized foreign exchange gains and losses as well as for share-based compensation because it better reflects how we assess our operational performance. We have restated comparative periods to reflect this change. Other items may also be adjusted from time to time. We adjust this measure for certain of the items that our equity-accounted investees make in arriving at other non-IFRS measures. Adjusted net earnings is one of the targets that we measure to form the basis for a portion of annual employee and executive compensation (see Measuring our results in our 2024 annual MD&A).
In calculating ANE we adjust for derivatives. We do not use hedge accounting under IFRS and, therefore, we are required to report gains and losses on all hedging activity, both for contracts that close in the period and those that remain outstanding at the end of the period. For the contracts that remain outstanding, we must treat them as though they were settled at the end of the reporting period (mark-to-market). However, we do not believe the gains and losses that we are required to report under IFRS appropriately reflect the intent of our hedging activities, so we make adjustments in calculating our ANE to better reflect the impact of our hedging program in the applicable reporting period. See Foreign exchange in our 2024 annual MD&A for more information.
We also adjust for changes to our reclamation provisions that flow directly through earnings. Every quarter we are required to update the reclamation provisions for all operations based on new cash flow estimates, discount and inflation rates. This normally results in an adjustment to our asset retirement obligation asset in addition to the provision balance. When the assets of an operation have been written off due to an impairment, as is the case with our Rabbit Lake and US ISR operations, the adjustment is recorded directly to the statement of earnings as "other operating expense (income)". See note 16 of our annual financial statements for more information. This amount has been excluded from our ANE measure.
As a result of the change in ownership of Westinghouse when it was acquired by Cameco and Brookfield, Westinghouse's inventories at the acquisition date were revalued based on the market price at that date. As these quantities are sold, Westinghouse's cost of products and services sold reflect these market values, regardless of their historic costs. Our share of these costs is included in earnings from equity-accounted investees and recorded in cost of products and services sold in the investee information (see note 12 to the financial statements). Since this expense is non-cash, outside of the normal course of business and only occurred due to the change in ownership, we have excluded our share from our ANE measure.
Westinghouse has also expensed some non-operating acquisition-related transition costs that the acquiring parties agreed to pay for, which resulted in a reduction in the purchase price paid. Our share of these costs is included in earnings from equity accounted investees and recorded in other expenses in the investee information (see note 12 to the financial statements). Since this expense is outside of the normal course of business and only occurred due to the change in ownership, we have excluded our share from our ANE measure.
The following table reconciles adjusted net earnings with our net earnings for the three months and years ended December 31, 2024, and 2023.
THREE MONTHS ENDED | YEAR ENDED | |||||||
DECEMBER 31 | DECEMBER 31 | |||||||
($ MILLIONS) | 2024 | 2023 | 2024 | 2023 | ||||
Net earnings attributable to equity holders | 135 | 80 | 172 | 361 | ||||
Adjustments | ||||||||
Adjustments on derivatives | 133 | (59 | ) | 152 | (59 | ) | ||
Unrealized foreign exchange gains | (56 | ) | (1 | ) | (66 | ) | (10 | ) |
Share-based compensation | 17 | 12 | 44 | 63 | ||||
Adjustments on other operating expense (income) | (23 | ) | 40 | (35 | ) | (2 | ) | |
Income taxes on adjustments | (37 | ) | 6 | (46 | ) | 2 | ||
Adjustments on equity investees (net of tax): | ||||||||
Inventory purchase accounting | 3 | 20 | 53 | 20 | ||||
Acquisition-related transition costs | - | - | 22 | - | ||||
Unrealized foreign exchange losses (gains) | (16 | ) | 10 | (7 | ) | 8 | ||
Long-term incentive plan | 1 | - | 3 | - | ||||
Adjusted net earnings | 157 | 108 | 292 | 383 | ||||
EBITDA
EBITDA is defined as net earnings attributable to equity holders, adjusted for the costs related to the impact of the company's capital and tax structure including depreciation and amortization, finance income, finance costs (including accretion) and income taxes.
ADJUSTED EBITDA
Adjusted EBITDA is defined as EBITDA, as further adjusted for the impact of certain costs or benefits incurred in the period which are either not indicative of the underlying business performance or that impact the ability to assess the operating performance of the business. These adjustments include the amounts noted in the adjusted net earnings definition.
In calculating adjusted EBITDA, we also adjust for items included in the results of our equity-accounted investees. These items are reported as part of marketing, administrative and general expenses within the investee financial information and are not representative of the underlying operations. These include gain/loss on undesignated hedges, transaction costs related to acquisitions and gain/loss on disposition of a business.
We also adjust for the unwinding of the effect of purchase accounting on the sale of inventories which is included in our share of earnings from equity-accounted investee and recorded in the cost of products and services sold in the investee information (see note 12 to the financial statements).
The company may realize similar gains or incur similar expenditures in the future.
ADJUSTED EBITDA MARGIN
Adjusted EBITDA margin is defined as adjusted EBITDA divided by revenue for the appropriate period.
EBITDA, adjusted EBITDA, and adjusted EBITDA margin are measures which allow us and other users to assess results of operations from a management perspective without regard for our capital structure. To facilitate a better understanding of these measures, the table below reconciles earnings before income taxes with EBITDA and adjusted EBITDA for the fourth quarters and years ended 2024 and 2023.
For the year ended December 31, 2024:
FUEL | |||||||||
($ MILLIONS) | URANIUM 1 | SERVICES | WESTINGHOUSE | OTHER | TOTAL | ||||
Net earnings (loss) attributable to equity holders | 904 | 108 | (218 | ) | (622 | ) | 172 | ||
Depreciation and amortization | 239 | 37 | - | 5 | 281 | ||||
Finance income | - | - | - | (21 | ) | (21 | ) | ||
Finance costs | - | - | - | 147 | 147 | ||||
Income taxes | - | - | - | 85 | 85 | ||||
1,143 | 145 | (218 | ) | (406 | ) | 664 | |||
Adjustments on equity investees | |||||||||
Depreciation and amortization | 23 | - | 357 | - | 380 | ||||
Finance income | (1 | ) | - | (4 | ) | - | (5 | ) | |
Finance expense | - | - | 225 | - | 225 | ||||
Income taxes | 58 | - | (61 | ) | - | (3 | ) | ||
Net adjustments on equity investees | 80 | - | 517 | - | 597 | ||||
EBITDA | 1,223 | 145 | 299 | (406 | ) | 1,261 | |||
Gain on derivatives | - | - | - | 152 | 152 | ||||
Other operating income | (35 | ) | - | - | - | (35 | ) | ||
Share-based compensation | - | - | - | 44 | 44 | ||||
Unrealized foreign exchange gains | - | - | - | (66 | ) | (66 | ) | ||
(35 | ) | - | - | 130 | 95 | ||||
Adjustments on equity investees | |||||||||
Inventory purchase accounting | - | - | 71 | - | 71 | ||||
Acquisition-related transition costs | - | - | 29 | - | 29 | ||||
Other expenses | - | - | 78 | - | 78 | ||||
Foreign exchange gains | (9 | ) | - | 2 | - | (7 | ) | ||
Net adjustments on equity investees | (9 | ) | - | 184 | - | 175 | |||
Adjusted EBITDA | 1,179 | 145 | 483 | (276 | ) | 1,531 | |||
1 JV Inkai EBITDA is included in the uranium segment. See Financial results by segment – Uranium in our 2024 annual MD&A. |
For the year ended December 31, 2023:
FUEL | |||||||||
($ MILLIONS) | URANIUM 1 | SERVICES | WESTINGHOUSE | OTHER | TOTAL | ||||
Net earnings (loss) attributable to equity holders | 606 | 129 | (24 | ) | (350 | ) | 361 | ||
Depreciation and amortization | 175 | 35 | - | 10 | 220 | ||||
Finance income | - | - | - | (112 | ) | (112 | ) | ||
Finance costs | - | - | - | 116 | 116 | ||||
Income taxes | - | - | - | 126 | 126 | ||||
781 | 164 | (24 | ) | (210 | ) | 711 | |||
Adjustments on equity investees | |||||||||
Depreciation and amortization | 14 | - | 61 | - | 75 | ||||
Finance income | - | - | (2 | ) | - | (2 | ) | ||
Finance expense | - | - | 30 | - | 30 | ||||
Income taxes | 42 | - | (7 | ) | - | 35 | |||
Net adjustments on equity investees | 56 | - | 82 | - | 138 | ||||
EBITDA | 837 | 164 | 58 | (210 | ) | 849 | |||
Loss on derivatives | - | - | - | (59 | ) | (59 | ) | ||
Other operating income | (2 | ) | - | - | - | (2 | ) | ||
Share-based compensation | - | - | - | 63 | 63 | ||||
Unrealized foreign exchange gains | - | - | - | (10 | ) | (10 | ) | ||
(2 | ) | - | - | (6 | ) | (8 | ) | ||
Adjustments on equity investees | |||||||||
Inventory purchase accounting | - | - | 27 | - | 27 | ||||
Other expenses | - | - | 8 | - | 8 | ||||
Foreign exchange gains | - | - | 8 | - | 8 | ||||
Net adjustments on equity investees | - | - | 43 | - | 43 | ||||
Adjusted EBITDA | 835 | 164 | 101 | (216 | ) | 884 | |||
1 JV Inkai EBITDA is included in the uranium segment. See Financial results by segment - Uranium in our 2024 annual MD&A. |
The following Westinghouse financial outlook for 2025 is reported in Canadian dollars and prepared in accordance with IFRS and reflects Cameco's 49% ownership share. It reconciles the Westinghouse outlook for net earnings with EBITDA and adjusted EBITDA.
$USD | ||
CAMECO SHARE (49%) | MILLIONS | |
Net loss | (20-70) | |
Depreciation and amortization | 260-275 | |
Finance income | (1-2) | |
Finance costs | 120-135 | |
Income tax expense (recovery) | 5-(10) | |
EBITDA | 320-370 | |
Inventory purchase accounting | 1-5 | |
Restructuring costs | 15-30 | |
Other expenses | 10-25 | |
Adjusted EBITDA | 355-405 |
The outlook for adjusted EBITDA from Westinghouse for 2025 and its growth over the next five years are based on the following assumptions:
- A compound annual growth rate in revenue from its core business of 6% to 8%, which is slightly higher than the anticipated average growth rate of the nuclear industry based on the World Nuclear Association's Reference Case. In addition to orders for PWR reactor fuel and services, this includes orders for VVER, BWR fuel and services, and a phase out of AGR fuel. The outlook assumes that work is fulfilled on the timelines and scope expected based on current orders received, and additional work is secured based on past trends. The expected margins for the core business are aligned with the historic margins of 16% to 19%, with the variability expected to come from product mix compared to in previous years.
- Growth in its new build business from new AP1000 reactor projects based on agreements that have been signed and announcements where AP1000 technology has been selected. This includes Poland, Bulgaria and Ukraine, as well as the expected benefit over this period for deployment of reactor designs using Westinghouse's technology. It is assumed that work on announced agreements and announced selections to be done by Westinghouse would proceed on the timelines and revenue pattern noted under the New Build Framework. A delay in project timelines or cancellation of announced projects would result in a growth rate near the bottom of the range. The top of the growth range assumes the announced projects continue and two additional projects are secured within the timeframe from the group of planned and proposed projects. For all new build projects, the growth assumes Westinghouse undertakes only the Engineering and Procurement work required prior to a new reactor project breaking ground, which is a small component of the overall potential.
- Estimates and assumptions, including growth capital timelines, new build development timelines for both announced and potential reactor builds which are subject to regulatory approval, as well as risks related to the current geopolitical and macro-economic environment, may differ significantly from those assumed.
- Contributions from new technologies are outside the 5-year time frame. Timelines for investment in research and development for new technologies, including the eVinciâ„¢ microreactor and AP300â„¢ small modular reactor, may differ from that assumed.
- The outlook for capital expenditures includes growth capex for expansion of fuel fabrication capabilities, as well as work to evaluate cost, timeline and infrastructure required to bring back conversion capacity and consider the potential future opportunities at the Springfields site in the UK. As with Cameco's other investments, planning for this site will align with market opportunities.
Selected segmented highlights
THREE MONTHS ENDED | YEAR ENDED | |||||||
DECEMBER 31 | DECEMBER 31 | |||||||
HIGHLIGHTS | 2024 | 2023 | CHANGE | 2024 | 2023 | CHANGE | ||
Uranium | Production volume (million lbs) | 6.1 | 5.7 | 7% | 23.4 | 17.6 | 33% | |
Sales volume (million lbs) | 12.8 | 9.8 | 30% | 33.6 | 32.0 | 5% | ||
Average realized price 1 | ($US/lb) | 58.45 | 52.35 | 12% | 58.34 | 49.76 | 17% | |
($Cdn/lb) | 80.90 | 71.65 | 13% | 79.70 | 67.31 | 18% | ||
Revenue ($ millions) | 1,035 | 700 | 48% | 2,677 | 2,153 | 24% | ||
Gross profit ($ millions) | 213 | 96 | >100% | 681 | 445 | 53% | ||
Earnings before income taxes | 289 | 122 | >100% | 904 | 606 | 49% | ||
Adjusted EBITDA 2 | 391 | 231 | 70% | 1,179 | 835 | 41% | ||
Fuel services | Production volume (million kgU) | 3.6 | 3.7 | (3)% | 13.5 | 13.3 | 2% | |
Sales volume (million kgU) | 4.2 | 4.2 | - | 12.1 | 12.0 | 1% | ||
Average realized price 3 | ($Cdn/kgU) | 35.41 | 32.19 | 10% | 37.87 | 35.61 | 6% | |
Revenue ($ millions) | 148 | 134 | 10% | 459 | 426 | 8% | ||
Earnings before income taxes | 37 | 40 | (8)% | 108 | 129 | (16)% | ||
Adjusted EBITDA 2 | 49 | 51 | (4)% | 145 | 164 | (12)% | ||
Adjusted EBITDA margin (%) 2 | 33 | 38 | (13)% | 32 | 38 | (16)% | ||
Westinghouse | Revenue | 841 | 521 | 61% | 2,892 | 521 | >100% | |
(our share) | Net earnings (loss) | 9 | (24) | >(100%) | (218) | (24) | >100% | |
Adjusted EBITDA 2 | 162 | 101 | 60% | 483 | 101 | >100% | ||
1 Uranium average realized price is calculated as the revenue from sales of uranium concentrate, transportation and storage fees divided by the volume of uranium concentrates sold. |
2 Non-IFRS measure. |
3 Fuel services average realized price is calculated as revenue from the sale of conversion and fabrication services, including fuel bundles and reactor components, transportation and storage fees divided by the volumes sold. |
Management's discussion and analysis (MD&A) and financial statements
The 2024 annual MD&A and consolidated financial statements provide a detailed explanation of our operating results for the three and twelve months ended December 31, 2024, as compared to the same periods last year, and our outlook for 2025. This news release should be read in conjunction with these documents, as well as our most recent annual information form, all of which are available on our website at cameco.com, on SEDAR+ at www.sedarplus.com , and on EDGAR at sec.gov/edgar.shtml.
Qualified persons
The technical and scientific information discussed in this document for our material properties McArthur River/Key Lake, Cigar Lake and Inkai was approved by the following individuals who are qualified persons for the purposes of NI 43-101:
MCARTHUR RIVER/KEY LAKE | CIGAR LAKE | ||||
|
| ||||
| |||||
INKAI | |||||
|
Caution about forward-looking information
This news release includes statements and information about our expectations for the future, which we refer to as forward-looking information. Forward-looking information is based on our current views, which can change significantly, and actual results and events may be significantly different from what we currently expect.
Examples of forward-looking information in this news release include: our views regarding the outlook for nuclear energy and nuclear fuel fundamentals never having been more favourable; our expectation of strong financial performance and cash flow generation in 2025 driven by market conditions and through the continued benefits of our investment in Westinghouse, including our belief that Westinghouse is well-positioned for long-term growth, and our expected share of its adjusted EBITDA for 2025 and growth over the next five years; our expectation that Westinghouse's investments in new technologies will be made in accordance with Westinghouse's current business plan and our expectations regarding the effects on Westinghouse's adjusted EBITDA; our expectation to continue investing to help ensure reliability and sustainability of our existing operations, while positioning us for future production flexibility and growth; our views regarding supply and demand for nuclear power, that the risks to uranium and nuclear fuel supplies and services are greater than the risk to demand, and our expectation of a renewed focus on ensuring long-term availability of nuclear fuel supplies; our ability to operate our assets sustainably, and our expectations regarding the value they will generate for us; our views regarding the impact on the nuclear power industry of geopolitical events; our ability to invest in our existing and potential supply sources; the durability of the nuclear industry and our growth, and our ability to pursue growth and generate full-cycle value; our contract portfolio strategy and pipeline of business; our supply plans, including production levels at McArthur River/Key Lake, Cigar Lake and Inkai, as well as at our fuel services segment; our capital projects plans; our ability to continue to be resilient and to position ourselves for future production flexibility; our belief that we have the right strategy to help achieve a secure energy future in a manner that reflects our values; our views regarding the long-term sustainability of our business and our ability to self-manage risk; our expectations for dividend payments in 2025 and 2026; and the expected date for announcement of our 2025 first quarter results.
Material risks that could lead to different results include: unexpected changes in uranium supply, demand, long-term contracting, and prices; changes in consumer demand for nuclear power and uranium as a result of changing societal views and objectives regarding nuclear power, electrification and decarbonization; risks to Westinghouse's business associated with potential production disruptions, the implementation of its business objectives, compliance with licensing or quality assurance requirements, or otherwise be unable to achieve expected growth; the risk that we may not be able to implement changes to future operating and production levels for Cigar Lake and McArthur River/Key Lake and Inkai, or at our fuel services segment, to the planned levels within the expected timeframes, or that the costs involved in doing so, exceed our expectations; the risk that our revenues and cash flows may not achieve the levels expected; the risk of Inkai shipment delays due to the continuation or outcome of the conflict between Ukraine and Russia; the risk that we may not be able to meet sales commitments for any reason; the risk that we may not be able to continue to be resilient or continue to improve our financial performance; the risks to our business associated with potential production disruptions, including those related to global supply chain disruptions, global economic uncertainty and political volatility; risks associated with the application of, or developments in, laws or regulations that affect us or any of our joint ventures, including mining regulations, taxes, tariffs and sanctions; the risk that we may not be able to implement our business objectives in a manner consistent with our values; the risk that any of the strategies that we or any of our joint ventures are pursuing may prove unsuccessful, or that that may not be executed successfully; and the risk that we may be delayed in announcing our future financial results.
In presenting the forward-looking information, we have made material assumptions which may prove incorrect about: uranium demand, supply, consumption, long-term contracting, growth in the demand for and global public acceptance of nuclear energy, and prices; our production, purchases, sales, deliveries and costs; the market conditions and other factors upon which we have based our future plans and forecasts; the success of our plans and strategies, including planned operating and production changes; assumptions about Westinghouse's production, purchases, sales, deliveries and costs, the absence of business disruptions, and the success of its plans and strategies; the absence of new and adverse government regulations, policies or decisions, including the application of, or developments in, laws that may adversely affect us, such as mining regulations, taxes, tariffs and sanctions; that there will not be any significant unanticipated adverse consequences to our business resulting from production disruptions, including those relating to supply disruptions, and economic or political uncertainty and volatility; and our ability to announce future financial results when expected.
Please also review the discussion in our 2024 annual MD&A and most recent annual information form for other material risks that could cause actual results to differ significantly from our current expectations, and other material assumptions we have made. Forward-looking information is designed to help you understand management's current views of our near-term and longer-term prospects, and it may not be appropriate for other purposes. We will not necessarily update this information unless we are required to by securities laws.
Conference call
We invite you to join our fourth quarter conference call on Thursday, February 20, 2025, at 8:00 a.m. Eastern.
The call will be open to all investors and the media. To join the call, please dial (844) 763-8274 (Canada and US) or (647) 484-8814. An operator will put your call through. The slides and a live webcast of the conference call will be available from a link at cameco.com. See the link on our home page on the day of the call.
A recorded version of the proceedings will be available:
- on our website, cameco.com, shortly after the call
- on post view until midnight, Eastern, April 20, 2025, by calling (855) 669-9658 (Canada and US) or (412) 317-0088 (Passcode 6056817)
2025 first quarter report release date
We plan to announce our 2025 first quarter results before markets open on May 1, 2025.
Profile
Cameco is one of the largest global providers of the uranium fuel needed to energize a clean-air world. Our competitive position is based on our controlling ownership of the world's largest high-grade reserves and low-cost operations, as well as significant investments across the nuclear fuel cycle, including ownership interests in Westinghouse Electric Company and Global Laser Enrichment. Utilities around the world rely on Cameco to provide global nuclear fuel solutions for the generation of safe, reliable, carbon-free nuclear power. Our shares trade on the Toronto and New York stock exchanges. Our head office is in Saskatoon, Saskatchewan, Canada.
As used in this news release, the terms we, us, our, the Company and Cameco mean Cameco Corporation and its subsidiaries unless otherwise indicated.
View source version on businesswire.com: https://www.businesswire.com/news/home/20250219674310/en/
Investor inquiries: Â
Cory Kos
306-716-6782
cory_kos@cameco.com
Media inquiries: Â
Veronica Baker
639-994-0079
veronica_baker@cameco.com
News Provided by Business Wire via QuoteMedia
Global Atomic Provides Corporate Update
Global Atomic Corporation (" Global Atomic " or the " Company ") (TSX: GLO) (OTCQX: GLATF) (FRANKFURT: G12) is pleased to provide an update on recent activities at the Company and the Dasa Uranium Project in the Republic of Niger .
NIGER UPDATE
At the African Mining Indaba Conference held in Cape Town last week, the Company held several important meetings with Niger's Mines Minister Abarchi, who was present at the largest mining conference in Africa , promoting his Country to attract potential investors interested in the mining sector. The Minister emphasized the Government's strong support for Global Atomic and the Dasa Project, and confirmed his government has no intention to nationalize the Dasa Project.
In various meetings attended by Minister Abarchi at the Conference, he stated that Niger welcomes and encourages investment by foreign mining companies specifically including those from Canada , the United States and Australia. Further, at the end of last week the Niger government announced plans to hold a major conference in mid-February to establish a process that will govern the transition to a democratic election.
The Company held additional meetings in Cape Town , including with new groups interested in financing the Dasa Project, as well as suppliers and contractors who are currently working with Global Atomic and SOMIDA.
PROJECT DEVELOPMENT
The advancement of the Dasa underground has progressed on the first two levels along the footwall of the ore body. Five-meter diameter ventilation raises have been completed and commissioned enabling continued underground development while maintaining safe working conditions and efficiency.
Plant construction is proceeding on schedule with earthworks nearing completion and civil works underway and the concrete batch plant now under construction.  Large pieces of processing equipment such as the SAG mill shell, crusher and acid plant are now on site. The camp that will house the plant construction crew is well underway with a large percentage of housing now ready for occupation.
FINANCING
Since the inauguration of President Trump in the United States of America , the market reaction has been that debt funding for the Dasa Project is unlikely to come from the USA . Â However, these discussions continue as well as the advancement of the Joint Venture final documentation. It is important to remember that the Company has entered into off-take agreements for 8.8 million pounds U 3 O 8 over the first 7 years of the Mine; 90% of which has been sold to US utilities. Â As a result of the many successful meetings at the Indaba Conference, new parties have indicated a willingness to participate in the final funding solution for Dasa. Management is confident that these initiatives will continue to progress, and we reiterate our belief that prior to the end of Q1, 2025, further clarity can be shared with the market.
Stephen Roman , President & CEO of Global Atomic, stated, " By advancing the development of the mine, processing plant and infrastructure, we have significantly moved the Dasa Project closer to production while continuously adding to the intrinsic value of the Dasa Project. Â This is the basis of appraisal for all our financing discussions and not the current value of our shares."
A recent video of our progress in Niger is available at https://www.youtube.com/watch?v=ITl8r104-MA .
About Global Atomic
Global Atomic Corporation ( www.globalatomiccorp.com ) is a publicly listed company that provides a unique combination of high-grade uranium mine development and cash-flowing zinc concentrate production.
The Company's Uranium Division is currently developing the fully permitted, large, high grade Dasa Deposit, discovered in 2010 by Global Atomic geologists through grassroots field exploration. The "First Blast Ceremony" occurred on November 5, 2022 , and commissioning of the processing plant is scheduled for Q1, 2026. Global Atomic has also identified 3 additional uranium deposits in Niger that can be advanced with further assessment work.
Global Atomic's Base Metals Division holds a 49% interest in the Befesa Silvermet Turkey, S.L. (BST) Joint Venture, which operates a modern zinc recycling plant, located in Iskenderun, Türkiye. The plant recovers zinc from Electric Arc Furnace Dust (EAFD) to produce a high-grade zinc oxide concentrate which is sold to zinc smelters around the world. The Company's joint venture partner, Befesa Zinc S.A.U. (Befesa) holds a 51% interest in and is the operator of the BST Joint Venture. Befesa is a market leader in EAFD recycling, with approximately 50% of the European EAFD market and facilities located throughout Europe , Asia and the United States of America .
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS:
The information in this release may contain forward-looking information under applicable securities laws. Forward-looking information includes, but is not limited to, statements with respect to completion of any financings; Global Atomics' development potential and timetable of its operations, development and exploration assets; Global Atomics' ability to raise additional funds necessary; the future price of uranium; the estimation of mineral reserves and resources; conclusions of economic evaluation; the realization of mineral reserve estimates; the timing and amount of estimated future production, development and exploration; cost of future activities; capital and operating expenditures; success of exploration activities; mining or processing issues; currency exchange rates; government regulation of mining operations; and environmental and permitting risks.  Generally, forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "is expected", "estimates", variations of such words and phrases or statements that certain actions, events or results "could", "would", "might", "will be taken", "will begin", "will include", "are expected", "occur" or "be achieved". All information contained in this news release, other than statements of current or historical fact, is forward-looking information.  Statements of forward-looking information are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Global Atomic to be materially different from those expressed or implied by such forward-looking statements, including but not limited to those risks described in the annual information form of Global Atomic and in its public documents filed on SEDAR from time to time.
Forward-looking statements are based on the opinions and estimates of management at the date such statements are made. Although management of Global Atomic has attempted to identify important factors that could cause actual results to be materially different from those forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance upon forward-looking statements. Global Atomic does not undertake to update any forward-looking statements, except in accordance with applicable securities law. Readers should also review the risks and uncertainties sections of Global Atomics' annual and interim MD&As.
The Toronto Stock Exchange has not reviewed and does not accept responsibility for the adequacy and accuracy of this news release.
SOURCE Global Atomic Corporation
View original content to download multimedia: http://www.newswire.ca/en/releases/archive/February2025/12/c0271.html
News Provided by Canada Newswire via QuoteMedia
Global Atomic Provides Corporate Update
Global Atomic Corporation (" Global Atomic " or the " Company ") (TSX: GLO) (OTCQX: GLATF) (FRANKFURT: G12) is pleased to provide an update on recent activities at the Company and the Dasa Uranium Project in the Republic of Niger .
NIGER UPDATE
At the African Mining Indaba Conference held in Cape Town last week, the Company held several important meetings with Niger's Mines Minister Abarchi, who was present at the largest mining conference in Africa , promoting his Country to attract potential investors interested in the mining sector. The Minister emphasized the Government's strong support for Global Atomic and the Dasa Project, and confirmed his government has no intention to nationalize the Dasa Project.
In various meetings attended by Minister Abarchi at the Conference, he stated that Niger welcomes and encourages investment by foreign mining companies specifically including those from Canada , the United States and Australia. Further, at the end of last week the Niger government announced plans to hold a major conference in mid-February to establish a process that will govern the transition to a democratic election.
The Company held additional meetings in Cape Town , including with new groups interested in financing the Dasa Project, as well as suppliers and contractors who are currently working with Global Atomic and SOMIDA.
PROJECT DEVELOPMENT
The advancement of the Dasa underground has progressed on the first two levels along the footwall of the ore body. Five-meter diameter ventilation raises have been completed and commissioned enabling continued underground development while maintaining safe working conditions and efficiency.
Plant construction is proceeding on schedule with earthworks nearing completion and civil works underway and the concrete batch plant now under construction.  Large pieces of processing equipment such as the SAG mill shell, crusher and acid plant are now on site. The camp that will house the plant construction crew is well underway with a large percentage of housing now ready for occupation.
FINANCING
Since the inauguration of President Trump in the United States of America , the market reaction has been that debt funding for the Dasa Project is unlikely to come from the USA . Â However, these discussions continue as well as the advancement of the Joint Venture final documentation. It is important to remember that the Company has entered into off-take agreements for 8.8 million pounds U 3 O 8 over the first 7 years of the Mine; 90% of which has been sold to US utilities. Â As a result of the many successful meetings at the Indaba Conference, new parties have indicated a willingness to participate in the final funding solution for Dasa. Management is confident that these initiatives will continue to progress, and we reiterate our belief that prior to the end of Q1, 2025, further clarity can be shared with the market.
Stephen Roman , President & CEO of Global Atomic, stated, " By advancing the development of the mine, processing plant and infrastructure, we have significantly moved the Dasa Project closer to production while continuously adding to the intrinsic value of the Dasa Project. Â This is the basis of appraisal for all our financing discussions and not the current value of our shares."
A recent video of our progress in Niger is available at https://www.youtube.com/watch?v=ITl8r104-MA .
About Global Atomic
Global Atomic Corporation ( www.globalatomiccorp.com ) is a publicly listed company that provides a unique combination of high-grade uranium mine development and cash-flowing zinc concentrate production.
The Company's Uranium Division is currently developing the fully permitted, large, high grade Dasa Deposit, discovered in 2010 by Global Atomic geologists through grassroots field exploration. The "First Blast Ceremony" occurred on November 5, 2022 , and commissioning of the processing plant is scheduled for Q1, 2026. Global Atomic has also identified 3 additional uranium deposits in Niger that can be advanced with further assessment work.
Global Atomic's Base Metals Division holds a 49% interest in the Befesa Silvermet Turkey, S.L. (BST) Joint Venture, which operates a modern zinc recycling plant, located in Iskenderun, Türkiye. The plant recovers zinc from Electric Arc Furnace Dust (EAFD) to produce a high-grade zinc oxide concentrate which is sold to zinc smelters around the world. The Company's joint venture partner, Befesa Zinc S.A.U. (Befesa) holds a 51% interest in and is the operator of the BST Joint Venture. Befesa is a market leader in EAFD recycling, with approximately 50% of the European EAFD market and facilities located throughout Europe , Asia and the United States of America .
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS:
The information in this release may contain forward-looking information under applicable securities laws. Forward-looking information includes, but is not limited to, statements with respect to completion of any financings; Global Atomics' development potential and timetable of its operations, development and exploration assets; Global Atomics' ability to raise additional funds necessary; the future price of uranium; the estimation of mineral reserves and resources; conclusions of economic evaluation; the realization of mineral reserve estimates; the timing and amount of estimated future production, development and exploration; cost of future activities; capital and operating expenditures; success of exploration activities; mining or processing issues; currency exchange rates; government regulation of mining operations; and environmental and permitting risks.  Generally, forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "is expected", "estimates", variations of such words and phrases or statements that certain actions, events or results "could", "would", "might", "will be taken", "will begin", "will include", "are expected", "occur" or "be achieved". All information contained in this news release, other than statements of current or historical fact, is forward-looking information.  Statements of forward-looking information are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Global Atomic to be materially different from those expressed or implied by such forward-looking statements, including but not limited to those risks described in the annual information form of Global Atomic and in its public documents filed on SEDAR from time to time.
Forward-looking statements are based on the opinions and estimates of management at the date such statements are made. Although management of Global Atomic has attempted to identify important factors that could cause actual results to be materially different from those forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance upon forward-looking statements. Global Atomic does not undertake to update any forward-looking statements, except in accordance with applicable securities law. Readers should also review the risks and uncertainties sections of Global Atomics' annual and interim MD&As.
The Toronto Stock Exchange has not reviewed and does not accept responsibility for the adequacy and accuracy of this news release.
SOURCE Global Atomic Corporation
View original content to download multimedia: http://www.newswire.ca/en/releases/archive/February2025/12/c0271.html
News Provided by Canada Newswire via QuoteMedia
