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July 08, 2024
Moab Minerals Limited (ASX: MOM) (Moab or the Company) is pleased to announce that it has completed the acquisition of 81.85% of the shares in Australian proprietary company Linx Resources Pty Ltd (Linx), plus an additional 7.75% following the conversion of loans owing to Moab by Linx, bringing Moab’sownership of Linx to 89.6%. Linx is the 80% owner of certain Prospecting Licenses comprising the Manyoni Uranium Project and the Octavo Uranium Project, both located in Tanzania (refer ASX announcement dated 12 March 2024).
HIGHLIGHTS
- Moab has completed the acquisition of 81.85% of the shares of Linx Resources Pty Ltd, which boasts a diverse portfolio of advanced, large-scale uranium projects in Tanzania.
- Moab has converted its loan to Linx of $521,000 to equity in Linx, bringing Moab’s ownership of Linx to 89.6%.
- The Asset portfolio includes the Manyoni and Octavo Uranium Projects, covering a total of 216 km2.
- Strategically located just 5km north of Manyoni town, the Manyoni Uranium Project enjoys convenient access to modern railway and sealed highway infrastructure as well as readily available power and water resources.
- The Manyoni Uranium Project was previously explored, and extensively drilled, by Uranex Ltd from the early 2000’s until 2013.
- Drilling to commence at the Manyoni project in August/September.
- With approximately $1.9 million in cash and equivalents, Moab is well equipped to fund exploration and development initiatives.
Moab Managing Director, Malcolm Day commented “The completion of the acquisition of such high potential uranium projects is transformational for the Company. The fact that Uranex Ltd previously explored, and extensively drilled, the Manyoni Uranium Project from the early 2000’s to 2013 assists the Company greatly. There is a large volume of historic exploration data, including drilling data, that the Company has access to that will effectively save the Company a lot of time and money. The Fukushima disaster in 2011 had a dramatic impact on the uranium price, and thus most pre-production uranium projects worldwide were shelved. Given the current uranium price of circa US$85/lb, Moab is in the right place at the right time to re-evaluate the Manyoni Uranium Project and to commence exploration on the Octavo Uranium Project”.
The Manyoni and Octavo Uranium Projects
The Manyoni Uranium Project tenements are located in the Republic of Tanzania (pop. 65 million), approximately 100km northwest of the capital city of Dodoma (pop. 765,000). The location of the uranium project at Manyoni is shown in Figure 1 and Figure 2 and the location of the Octavo uranium project is shown in Figure 1 and Figure 3.
Figure 1. Location of Manyoni and Octavo Uranium Projects
Figure 2. Location of Manyoni Tenements
Figure 3. Location of Octavo Tenement
Tenement Information
The Manyoni and Octavo tenements are Prospecting Licences that are granted for an initial period of 4 years, renewable for further periods of 3 years and then 2 years.
Click here for the full ASX Release
This article includes content from MOAB Minerals, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
9h
Blue Sky Uranium Forges Ahead with Ivana Project Through Strategic COAM Joint Venture
Blue Sky Uranium (TSXV:BSK,OTCQB:BSURF,FWB:MAL2) is making significant strides in advancing its flagship Ivana uranium-vanadium project in Argentina. In a recent interview, President and CEO Nikolaos Cacos detailed the company's newly formed joint venture with Abatare Spain (COAM), a strategic partnership poised to accelerate the project toward production.
Cacos highlighted the establishment of a new joint venture company, Ivana Minerales, formed with COAM to drive the Ivana deposit forward. This collaboration represents a pivotal moment for Blue Sky, as COAM is committed to funding cumulative expenditures of US$35 million to acquire a 49.9 percent indirect equity interest in the deposit. Furthermore, COAM holds the option to increase its stake to 80 percent by completing a feasibility study and fully funding the project's costs.
“As far as our long-term objectives go, it achieves the first long-term objective of creating a pathway to take it right through to production, and allows us now to begin to look at and focus on our other 100 percent owned projects that we have … coming up with a second uranium discovery,” Cacos explained.
The Blue Sky chief executive also touched upon the broader economic landscape in Argentina, noting the positive impact of new government policies aimed at attracting foreign investment and fostering economic growth.
“Argentina is becoming a very favorable business destination,” he said. “And by virtue of the fact that we're already there — we already are known to the government, we're known in the industry — it gives us a leg up in knowing how to operate there.”
Watch the full interview with Nicolaos Cacos, president and CEO of Blue Sky Uranium, above.
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12h
US Admin Fast Tracks Laramide Uranium Projects, Meta Pens Nuclear Power Deal
Laramide Resources' (TSX:LAM,ASX:LAM,OTCQX:LMRXF) Crownpoint-Churchrock and La Jara Mesa uranium projects in New Mexico have received covered project status under the federal FAST-41 permitting initiative.
Enacted in 2015, the FAST-41 designation is intended to streamline the environmental review and permitting processes for infrastructure projects considered important to national interests.
Since taking office, President Donald Trump has issued several executive orders and initiated a Section 232 investigation into energy security as part of a broader focus on accelerating domestic energy and critical minerals development.
Laramide's Crownpoint-Churchrock project, located in McKinley County, is comprised of two uranium deposits that are amenable to in-situ recovery and holds a US Nuclear Regulatory Commission license.
According to a 2023 technical report, the project holds a 50.8 million pound U3O8 inferred resource.
The La Jara Mesa project, situated in the Grants Mineral Belt of Cibola County, is a sandstone-hosted uranium deposit currently working through the uranium production permitting process.
The Laramide news comes after the US Department of the Interior expedited the environmental assessment for Anfield Energy’s (TSXV:AEC,OTCQB:ANLDF) Velvet-Wood uranium project in Utah last month. According to reports, the review was completed in 14 days — a timeline significantly shorter than the standard review process.
Shares of Laramide are up 4.69 percent on the TSX since the Monday (June 2) news, trading for C$0.67.
Nuclear deals fuel market optimism
The uranium sector has seen a broad wave of positivity since Trump signed several executive orders geared at supporting the country's nuclear industry, with players across the value chain benefiting.
Tuesday (June 3) brought another boost for the sector, with energy provider Constellation Energy (NASDAQ:CEG) announcing a major deal. In a significant development for the US nuclear energy sector, Constellation and Meta Platforms (NASDAQ:META) have entered into a 20 year agreement through which Mark Zuckerberg's Meta will purchase power from the Clinton Clean Energy Center in Illinois, starting in June 2027.
The deal is part of a wider initiative by Meta to meet its growing energy needs, in particular the energy required for its artificial intelligence and data center operations. The agreement will ensure the continued operation of the Clinton nuclear facility beyond the expiration of Illinois' zero-emission credit program.
Clinton's output will increase by 30 megawatts via the deal.
This partnership highlights the ongoing trend of tech companies investing in nuclear energy to meet escalating power demand and aligns with federal initiatives to bolster domestic nuclear capacity.
Don’t forget to follow us @INN_Resource for real-time updates!
Securities Disclosure: I, Georgia Williams, hold no direct investment interest in any company mentioned in this article.
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12h
China's Breakthrough in Uranium Seawater Extraction Boosts Efficiency by 40 Times
Chinese researchers have unveiled a method of extracting uranium from seawater at a fraction of the previous cost and energy use, positioning the country to potentially secure long-term domestic supply.
Scientists from Hunan University have developed an advanced electrochemical system that can extract uranium from seawater more efficiently and economically than any method currently in use.
The innovation, led by Professor Shuangyin Wang and his team, features a novel dual-electrode design using copper at both the positive and negative terminals, allowing uranium ions to be collected simultaneously at both ends.
The system achieved a 100 percent extraction rate from a synthetic seawater solution within 40 minutes — a remarkable leap from earlier physical adsorption methods, which typically extract less than 10 percent.
When tested with natural seawater, the device extracted all uranium from East China Sea samples and up to 85 percent from South China Sea water, reaching 100 percent in the latter case with larger electrodes.
It accomplished these results while consuming over 1,000 times less energy than existing electrochemical systems. The total cost was estimated at US$83 per kilogram of uranium — half the cost of physical adsorption (US$205 per kilogram) and nearly one-fourth that of previous electrochemical approaches (US$360 per kilogram).
The implications for China’s energy security could be substantial.
According to the International Energy Agency, China is building more nuclear power plants than any other country, and is expected to surpass the US and EU in installed nuclear capacity by 2030.
However, much of the uranium needed to fuel this growth is imported. In 2024, China imported 13,000 metric tons of uranium, compared to just 1,700 tonnes mined domestically.
Given the estimated 4.5 billion metric tons of uranium dissolved in the world’s oceans — over 1,000 times the amount in terrestrial reserves — seawater extraction has long been seen as a tantalizing, but technologically elusive solution.
Japan led early efforts in the 1980s and 1990s, extracting 1 kilogram of uranium using large-scale marine trials, a milestone that China is now poised to eclipse. The new electrochemical technique builds on recent momentum in China’s marine uranium research. In March of this year, scientists from Lanzhou University’s Frontiers Science Center for Rare Isotopes published a separate study detailing a breakthrough in uranium-vanadium separation, a major technical challenge due to the similar chemical properties of the two elements in seawater.
The Lanzhou team engineered a metal-organic framework (MOF) material embedded with diphenylethylene molecules that can change pore sizes under ultraviolet light.
This enabled the MOF to selectively attract uranium ions over vanadium, increasing uranium adsorption capacity to 588 milligrams per gram, and improving uranium-vanadium separation efficiency by 40-fold.
Their uranium selectivity factor reached 215 — the highest ever reported in natural seawater.
Both research efforts support China’s national nuclear strategy. In 2019, China National Nuclear partnered with 14 domestic research institutions to establish the Seawater Uranium Extraction Technology Innovation Alliance.
This government-backed initiative set ambitious milestones: match Japan’s kilogram-level extraction record by 2025, build a metric ton-scale demonstration plant by 2035 and reach continuous industrial production by 2050.
The alliance's work is driven by projections from the International Atomic Energy Agency, which forecasts that China’s uranium demand will exceed 40,000 metric tons annually by 2040. Marine extraction, if scaled successfully, could ease long-term supply pressures and reduce geopolitical risk tied to uranium imports.
Of course, despite promising lab results, transitioning to industrial-scale extraction poses engineering and economic hurdles. For example, scaling up the Hunan system would involve increasing the number and size of electrochemical cells and managing flow rates across larger volumes of seawater.
If successful, the innovation could revolutionize the global uranium market. By tapping into the ocean’s near-limitless uranium reserves, China could not only meet its own needs, but also shift the geopolitical dynamics of nuclear energy.
Don’t forget to follow us @INN_Resource for real-time updates!
Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.
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02 June
Top 10 Uranium-producing Countries
Global uranium production has experienced significant fluctuations over the past decade.
After peaking at 63,207 metric tons in 2016, global uranium output declined over the subsequent years as many uranium mines were rendered uneconomic by persistent low spot prices due to factors such as oversupply and lower demand following the 2011 Fukushima disaster. In 2022, world uranium production totaled just 49,355 metric tons.
However, the uranium market started turning around in 2021, leading uranium miners to begin restarting production at their mines in recent years. In early 2024, prices surged to a 17 year high of US$106 per pound, driven by a growing global commitment to nuclear energy as a low-carbon power source and supply concerns from major producers like Kazakhstan's Kazatomprom (LSE:KAP,OTC Pink:NATKY).
Currently, 10 percent of the world’s electricity is generated by nuclear energy, and that number is expected to grow. Looking forward, analysts are calling for a sustained bull market in uranium.
Prices have since stabilized around US$70 per pound as of mid-2025, and the market remains bullish due to a persistent supply-demand imbalance.
Because of uranium's significance in nuclear fuel production and energy generation, it’s important to know where uranium is mined and which nations are the largest uranium-producing countries. Kazakhstan is the leader by a long shot, and has been since 2009. In 2022, the most recent year for which data is available, Canada and Namibia took second and third place, respectively, for uranium production.
For investors interested in following the uranium space, having familiarity with uranium production by country is essential. Read on to get a closer look at the largest uranium-producing countries. Data and mine information on the top 10 uranium producing countries are from the World Nuclear Association’s most recent report on uranium mine production and mining database MDO.
1. Kazakhstan
Mine production: 21,227 metric tons
Kazakhstan is the largest uranium producing country in the world, and its total output of 21,227 metric tons in 2022 accounted for an impressive 43 percent of global uranium supply.
When last recorded in 2021, Kazakhstan had 815,200 MT of known recoverable uranium resources, second only to Australia. Most of the uranium in the country is mined via an in-situ leaching process.
Kazataprom, the country’s national uranium miner, is the world’s largest producer, with projects and partnerships in various jurisdictions. News that the top uranium producer may miss its production targets for 2024 and 2025 was a large contributor to uranium prices breaking through the US$100 level last year.
One of the company's most significant uranium operations is the Inkai in-situ recovery (ISR) mine, a 60/40 joint venture with Cameco (TSX:CCO,NYSE:CCJ). According to the mining database MDO, Inkai produced 8.3 million pounds of U3O8 in 2023.
Production at Inkai was temporarily suspended in early 2025 due to a regulatory delay that has since been rectified.
In May, Kazatomprom announced that its subsidiary's 40 percent owned joint venture, Taiqonyr Qyshqyl Zauyty, secured US$189 million in financing from the Development Bank of Kazakhstan to build an 800,000 MT per year sulfuric acid plant in the Turkestan region. The plant is expected to be operational by Q1 2027.
2. Canada
Mine production: 7,351 metric tons
Canada’s uranium output in 2022 was 7,351 metric tons. The country's production fell dramatically since hitting a peak of 14,039 MT in 2016 as the country's mines closed due to low uranium prices in the late 2010s. However, uranium production in the country began to rebound in 2022.
Saskatchewan’s Cigar Lake and McArthur River are considered the world’s two top uranium mines. Both properties are operated by sector major Cameco. MDO highlights Cigar Lake and McArthur River as having uranium grades that are 100 times the world average. The company made the decision to shutter operations at the McArthur River mine in 2018, but returned to normal operations in November 2022.
In 2023, Cameco produced 17.6 million pounds of uranium — equivalent to 7,983 metric tons — which was still below its originally planned production of 20.3 million pounds for the year. However, the company's 2024 uranium output climbed to 23.1 million pounds, beating its guidance for the year.
For 2025, the uranium major plans to produce 18 million pounds of uranium at McArthur River/Key Lake and 18 million pounds at Cigar Lake.
Uranium exploration is also prevalent in Canada, with the majority occurring in the uranium-rich Athabasca Basin in the province of Saskatchewan. The Athabasca Basin is world renowned for its high-quality uranium deposits and friendly mining attitude, and Saskatchewan's long history with the uranium industry has helped to assert it as an international leader in the sector.
3. Namibia
Mine production: 5,613 metric tons
Namibia’s uranium production totaled 5,613 metric tons in 2022. The country's uranium output has been steadily increasing after falling to 2,993 MT in 2015.
In fact, the African nation overtook longtime frontrunner Canada to become the third largest uranium-producing country in 2020, and went on to surpass Australia for the second top spot in 2021. Although Namibia slipped back below Canada in 2022, its output for the year was only down by 140 MT from 2021.
The country is home to three key uranium mines: Langer Heinrich, Rössing and Husab. Paladin Energy (ASX:PDN,OTCQX:PALAF) owns the Langer Heinrich mine. In 2017, Paladin took Langer Heinrich offline due to weak uranium prices. However, improved uranium prices over the past few years prompted the uranium miner to ramp up restart efforts, and Langer Heinrich achieved commercial production once again in Q1 2024.
Paladin initially forecast fiscal 2025 output of 4 million to 4.5 million pounds of U3O8, but revised it in November 2024 to 3 million to 3.6 million pounds due to inconsistent ore stockpiles and water supply issues. In March 2025, after heavy rains further disrupted operations, Paladin removed its guidance altogether. The company is now facing two class action lawsuits regarding the guidance revisions.
Rio Tinto (NYSE:RIO,ASX:RIO,LSE:RIO) sold its majority share of the Rössing mine to China National Uranium in 2019. Rössing is the world’s longest-running open-pit uranium mine, and recent expansion efforts have extended its mine life to 2036, according to MDO.
The Husab mine, majority owned by China General Nuclear, is one of the world's largest uranium mines by output. As part of its effort to increase output, MDO reports that a pilot heap leach project is underway to assess the economic feasibility of processing lower-grade ore. The results of the pilot project are expected in 2025.
4. Australia
Mine production: 4,087 metric tons
Australia’s uranium production totaled 4,087 metric tons in 2022, down significantly from the 6,203 MT produced two years prior. The island nation holds 28 percent of the world’s known recoverable uranium resources.
Uranium mining is a contentious and often political issue in Australia. While the country permits some uranium-mining activity, it is opposed to using nuclear energy — at least for now.
"Australia uses no nuclear power, but with high reliance on coal any likely carbon constraints on electricity generation will make it a strong possibility,” according to the World Nuclear Association. “Australia has a significant infrastructure to support any future nuclear power program.”
Australia is home to three operating uranium mines, including the largest-known deposit of uranium in the world, BHP's (NYSE:BHP,ASX:BHP,LSE:BHP) Olympic Dam. Although uranium is only produced as a by-product at Olympic Dam, its high output of the metal makes it the fourth largest uranium-producing mine in the world. The mining database MDO reports that In BHP's 2024 fiscal year, uranium output from the Olympic Dam operation totaled 3,603 metric tons of uranium oxide concentrate.
5. Uzbekistan
Mine production: 3,300 metric tons
In 2022, Uzbekistan was the fifth largest uranium producing country, with output of 3,300 metric tons. It entered the top five in 2020, with an estimated 3,500 MT of output. Domestic uranium production had been gradually increasing in the Central Asian nation since 2016 via Japanese and Chinese joint ventures.
Navoiyuran, which was spun out of state-owned Navoi Mining & Metallurgy Combinat in 2022 as part of a restructuring, handles all the mining and processing of domestic uranium supply. The nation's uranium largess continues to attract foreign investment; strategic partnerships with French uranium miner Orano and state-run China Nuclear Uranium were announced in November 2023 and March 2024, respectively.
Orano also partnered with the state uranium company in 2019, forming a 51/49 joint venture, Nurlikum Mining, to develop the South Djengeldi uranium project. In early 2025, the pair was joined by Japan’s ITOCHU (TSE:8001), who acquired an undisclosed minority stake. The mine, located in the Kyzylkum Desert, is projected to produce up to 700 metric tons of uranium annually over a lifespan exceeding a decade. An exploration program aims to at least double the project's mineral resources.
6. Russia
Mine production: 2,508 metric tons
Russia was in sixth place in terms of uranium production in 2022 with production of 2,508 metric tons. Output has been relatively steady in the country since 2011, usually coming in around the 2,800 to 3,000 MT range.
Experts had been expecting the country to increase its production in the coming years to meet its energy needs, as well as growing uranium demand around the world. But in 2021, uranium production in the country dropped by 211 MT year-over-year to 2,635 MT, and it fell by another 127 MT in 2022.
In terms of domestic production, Rosatom, a subsidiary of ARMZ Uranium Holding, owns the country’s Priargunsky mine and is working on developing the Vershinnoye deposit in Southern Siberia through a subsidiary.
In 2023, Russia surpassed its uranium production target, producing 90 MT more than expected. Rosatom is developing new mines, including Mine No. 6, which is slated to begin uranium production in 2028.
Russian uranium has been an area of controversy in recent years, with the US initiating a Section 232 investigation around the security of uranium imports from the country in 2018. More recently, Russia's ongoing war in Ukraine has prompted countries around the world to look more closely at their nuclear supply chains.
7. Niger
Mine production: 2,020 metric tons
Niger’s uranium production totaled 2,020 metric tons in 2022, having declined year-on-year over the past decade. The African nation is home to the producing SOMAIR uranium mine and the past producing COMINAK mine, which account for 5 percent of the world’s uranium production. Both are run by subsidiaries of Orano, a private uranium miner, through majority owned joint ventures.
Global Atomic (TSX:GLO,OTCQX:GLATF) is developing its Dasa project in the country, and expects to commission its processing plant by early 2026. Niger is also home to the Madaouela uranium asset, which was the flagship project of explorer GoviEx Uranium (TSXV:GXU,OTCQB:GVXXF).
A recent military coup in the African nation has sparked uranium supply concerns, as Niger accounts for 15 percent of France's uranium needs and one-fifth of EU imports. In January 2024, the government of Niger, now under a military junta, announced it intends to overhaul the nation's mining industry. It has temporarily halted the granting of new mining licenses and is working to make changes to existing mining licenses in order to increase state profits.
In mid-2024, Niger's government revoked GoviEx Uranium's Madaouela mining license along with Orano's operating permit for its Imouraren uranium project.
Niger granted a small-scale mining permit for the Moradi uranium project to state-owned COMIREX. The approval, issued February 22, 2025, upgrades a previous semi-mechanized license and strengthens national control over uranium resources in the Agadez Region.
8. China
Mine production: 1,700 metric tons
China’s uranium production grew to hit 1,700 metric tons in 2022, up by 100 MT over 2021. The country's uranium production climbed during the 2010s from 885 MT in 2011 to 1,885 MT in 2018, and held steady at that level until falling to 1,600 MT in 2021.
China General Nuclear Power, the country’s sole domestic uranium supplier, is looking to expand nuclear fuel supply deals with Kazakhstan, Uzbekistan and additional foreign uranium companies.
China’s goal is to supply one-third of its nuclear fuel cycle with uranium from domestic producers, obtain one-third through foreign equity in mines and joint ventures overseas and purchase one-third on the open uranium market. China is also a leader in nuclear energy; the Chinese mainland has 56 nuclear reactors with 31 in construction.
In May 2025 Chinese scientists announced successful results from their newly developed method of extracting uranium from seawater, which uses hydrogel beads made with candle wax and a uranium-binding compound. The team aims to build a demonstration plant by 2035.
While the nation’s uranium reserves are less expansive than other countries, the technique could support China’s growing nuclear power needs by tapping into the ocean’s vast uranium reserves.
9. India
Mine production: 600 metric tons
India produced 600 metric tons of uranium in 2022, on par with output in 2021.
India currently has 25 operating nuclear reactors with another eight under construction, according to the Indian government. In 2025, the country's Minister for Power released a list of steps to take to increase the country's nuclear energy capacity to its goal of 100 gigawatts of power by 2047.
“The Indian government is committed to growing its nuclear power capacity as part of its massive infrastructure development programme,” as per the World Nuclear Association. “The government has set ambitious targets to grow nuclear capacity.”
10. South Africa
Mine production: 200 metric tons
South Africa produced 200 metric tons of uranium in 2022. It is another uranium-producing country that has seen its output decline over the past decade — the nation's uranium output peaked at 573 MT in 2014. Nonetheless, in 2022 South Africa surpassed Ukraine's production, which was curbed by Russia's invasion, to become the 10th top uranium producer globally.
South Africa holds 5 percent of the world’s known uranium resources, taking the sixth spot on that list.
Recently, Sibanye-Stillwater (NYSE:SBSW) and C5 Capital, a global investment firm specializing in advanced nuclear energy, formed a strategic partnership to explore and develop advanced nuclear energy opportunities in South Africa and globally.
The collaboration aims to identify, acquire, finance, develop and manage uranium projects and production facilities capable of supplying fuel for small modular reactors. Sibanye-Stillwater's portfolio includes significant uranium resources in tailings at its Cooke and Beatrix gold operations.
Don’t forget to follow us @INN_Resource for real-time news updates!
Securities Disclosure: I, Georgia Williams, hold no direct investment interest in any company mentioned in this article.
Securities Disclosure: I, Melissa Pistilli, hold no direct investment interest in any company mentioned in this article.
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02 June
Terra Clean Energy Announces Amendment to Option Agreement and Debt Settlement
TERRA CLEAN ENERGY CORP. (“ Terra ” or the “ Company ”) (CSE: TCEC, OTCQB: TCEFF , FSE: 9O0 , is pleased to announce that the proposed issuance of common shares pursuant to the Company’s option agreement (the “Option Agreement”) with Skyharbour Resources Ltd. (“Skyharbour”) whereby the Company can earn up to a 75% interest in the South Falcon East uranium project, Athabasca Basin, Saskatchewan, Canada (the “Property”).
Under the terms of the Option Agreement, on or before May 31, 2025, the Company was to issue Skyharbour $820,000 in common shares to Skyharbour based on the VWAP calculated on the day of issuance. In the event that such issuance would result in Skyharbour owning more than 9.9% of the Company’s issued and outstanding number of common shares at the time of the issuance, the amount of common shares to be issued would be reduced so that the issuance would result in Skyharbour owning no more than 9.9% of the Company’s issued and outstanding number of common shares at the time of the issuance (and the amount of such reduction in the amount of common shares to be issued to satisfy the $820,000 would be satisfied through the issuance of common shares on or before February 28, 2026).
Using a VWAP of $0.12, the Company proposes to issue Skyharbour a total of 2,694,335 common shares (with a deemed value of $323,320.20). Under the terms of the Option Agreement, the balance of $496,679.80 in common shares will be deferred for issuance until on or before February 28, 2026.
The issuance to Skyharbour remains subject to the receipt of all regulatory approvals, including the approval of the Canadian Securities Exchange.
All securities issued in connection with the issuance to Skyharbour would be subject to a four month plus one day hold period from the date of issuance in accordance with applicable securities laws.
About Terra Clean Energy Corp.
Terra Clean Energy (formerly Tisdale Clean Energy Corp) is a Canadian-based uranium exploration and development company. The Company is currently developing the South Falcon East uranium project, which holds a 6.96M pound inferred uranium resource within the Fraser Lakes B Uranium Deposit, located in the Athabasca Basin region, Saskatchewan, Canada.
ON BEHALF OF THE BOARD OF TERRA CLEAN ENERGY CORP.
“Greg Cameron”
Greg Cameron, CEO
Qualified Person
The technical information in this news release has been prepared in accordance with the Canadian regulatory requirements set out in National Instrument 43-101, reviewed and approved on behalf of the company by C. Trevor Perkins, P.Geo., the Company’s Vice President, Exploration, and a Qualified Person as defined by National Instrument 43-101.
*The historical resource is described in the Technical Report on the South Falcon East Property, filed on sedarplus.ca on February 9, 2023. The Company is not treating the resource as current and has not completed sufficient work to classify the resource as a current mineral resource. While the Company is not treating the historical resource as current, it does believe the work conducted is reliable and the information may be of assistance to readers.
Forward-Looking Information
This news release contains forward-looking information which is not comprised of historical facts. Forward-looking information is characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate” and other similar words, or statements that certain events or conditions “may” or “will” occur. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, and opportunities to differ materially from those expressed or implied by such forward-looking information, including statements regarding the ability of the Company to satisfy regulatory, stock exchange and commercial closing conditions of the issuance of common shares to Skyharbour, and the potential development of mineral resources and mineral reserves which may or may not occur. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, changes in the state of equity and debt markets, fluctuations in commodity prices, delays in obtaining required regulatory or governmental approvals, and general economic and political conditions. Forward-looking information in this news release is based on the opinions and assumptions of management considered reasonable as of the date hereof, including that all necessary approvals, including governmental and regulatory approvals will be received as and when expected. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether because of new information, future events or otherwise, other than as required by applicable laws. For more information on the risks, uncertainties and assumptions that could cause our actual results to differ from current expectations, please refer to the Company’s public filings available under the Company’s profile at www.sedarplus.ca .
Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
For further information please contact:
Greg Cameron, CEO
Terra Clean Energy Corp
Suite 303, 750 West Pender Street
Vancouver, BC V6C 2T7
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29 May
Trump’s Nuclear Revival Plan Boosts Uranium Prices, Sends US Miners Soaring
Uranium is on the rise after President Donald Trumpsigned executive orders aimed at revitalizing the US nuclear industry — including measures to strengthen domestic fuel supply and expand the nuclear workforce.
On Tuesday (May 27), the U3O8 spot price climbed to US$72 per pound, its first move above US$70 since early February.
Trump’s promise to fast track mine permits has also benefited uranium companies with projects in the US.
One of those companies is Anfield Energy (TSXV:AEC,OTCQB:ANLDF), which on Tuesday received approval from the US Department of the Interior for its Velvet-Wood uranium and vanadium project in Utah. The green light marks the first uranium mine to be okayed under Trump’s emergency declaration to revive the domestic nuclear fuel cycle.
According to a statement, the Bureau of Land Management completed its environmental review in just 14 days, a timeline officials say reflects a broader shift toward prioritizing critical mineral projects.
“This approval marks a turning point in how we secure America’s mineral future,” said Secretary of the Interior Doug Burgum when the Velvet-Wood decision was announced. “We’re reducing dependence on foreign adversaries and ensuring our military, medical and energy sectors have the resources they need to thrive.”
Shares of Anfield surged to a year-to-date high of C$0.115 following the news, and have since settled in the C$0.10 range.
Rising tide raises all ships
Although Trump's latest round of executive orders has catalyzed uranium prices and sentiment in recent days, the sector's strong long-term fundamentals continue to provide underlying support.
Growing demand from artificial intelligence data centers, paired with a push for carbon-free energy sources, makes a strong case for the expansion of nuclear energy capacity.
Over the past five trading days, enCore Energy (TSXV:EU,NASDAQ:EU) shares have risen 33.33 percent, from C$2.18 on May 22 to C$2.92 on Wednesday (May 28). The company holds a portfolio of uranium projects located in Texas, Colorado, Wyoming and South Dakota. Currently, the Alta Mesa and Rosita projects in Texas are operational.
Uranium Energy (NYSEAMERICAN:UEC) has also seen its share price increase, adding 31 percent over the same five day period, to trade for US$2.89. Boasting a portfolio of 10 US uranium assets in various stages of development, the company also owns and operates the Hobson in-situ recovery processing plant in Texas, which is operational.
Ur-Energy (TSX:URE,NYSEAMERICAN:URG), which owns the producing Lost Creek mine and the construction-stage Shirley Basin project in Wyoming, is another company experiencing heightened investor interest this past week.
Shares of Ur-Energy rose 26.53 percent over the five day session, and are currently valued at C$1.24.
Diversified players like Western Uranium and Vanadium (CSE:WUC,OTCQX:WSTRF) were also buy targets following the president’s energy directive. The company, which is focused on advancing its past-producing Sunday mine complex in Colorado, has seen its share price increase 28 percent since May 21 to trade for C$1.14.
ASX-listed companies have also been garnering attention. Boss Energy (ASX:BOE,OTCQX:BQSSF), which holds a 30 percent stake in the producing Alta Mesa mine, has received particular interest.
Shares of the joint venture partner for enCore are up 14.27 percent over the last five days, to AU$4.13.
While these companies were among the first to get a boost from Trump's executive orders, there are many other US-focused uranium companies with projects all over the country now awaiting pro-nuclear upticks.
All share price information was obtained from TradingView on May 28, 2025. Data on project status was retrieved from Mining Data Online.
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Securities Disclosure: I, Georgia Williams, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: Boss Energy and Western Uranium and Vanadium are clients of the Investing News Network. This article is not paid-for content.
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