Uranium Investing News takes a look back at how uranium fared during the turbulence of 2014, speaking with analysts and CEOs about the market. Overall, while the market spent 2014 mired in disappointment and underperformance, the year looks set to finish on a strong note.
The uranium market spent 2014 mired in disappointment and underperformance, but the year looks set to finish on a strong note amidst optimism that the industry could be on the verge of a significant rise.
In the past six months, the spot price of uranium has risen 50 percent, while interest in long-term prices has also risen. During that time, news surfaced that two nuclear reactors in the Sendai district will be restarted in 2015, and that has further stoked interest in the market.
That said, David Talbot, a senior analyst with Dundee Capital Markets, sees utilities companies reentering the fray as they look to secure long-term supplies of the commodity as the biggest news of the past year. Indeed, term contracting has secured at least 69 million pounds of uranium this year — that’s three times the amount sold in 2013, but still below the 100-million-pound average seen over the past eight years, said Talbot.
Caught off guard
At the start of the year there were high hopes for uranium, with interest percolating after the dismal years following the Fukushima disaster. Prices stayed relatively stable before falling off the edge in March, tumbling down to the high $20 range.
“I incorrectly thought we would enjoy a positive year in the resource markets. The first portion saw appreciation in share prices across our sector, but the last few months of 2014 have proven challenging,” said Jim Paterson, CEO and director of Kivalliq Energy (TSXV:KIV).
Analysts were also surprised by the length of time it took for reactor restarts in Japan to gain formal approval. David Sadowski, an analyst with Raymond James, said he had expected six nuclear reactors have restarted by Christmas.
Tensions in Russia and Ukraine, with a passenger plane getting shot down reportedly by Russian-backed rebels, led to economic sanctions and a tightening of uranium demand.
Summer time sadness
While the recent months have been packed with good news, the summer was a dark time for investors.
“We predicted in [a] January report that prices would average $42 for the year, and while the spot price eventually touched that level in November there was a prolonged period in the high $20-per-pound [range], including touching a nine-year low at $28, and that was unexpected during this past summer,” said Sadowski.
Ted O’Connor, CEO and president of Azincourt Uranium (TSXV:AAZ), echoed those thoughts, commenting that while the market seems to be recovering and the future is bright, the summer was tough.
“The languishing uranium price that has now improved (roughly) 40 percent over the past month or so has not correlated into the uranium company share prices,” he said in a statement. “This has made financing exploration and development projects difficult.”
Bright spots?
Despite the gloomy news, Sadowski said investors have still been able to make good gains as the sector hasn’t been as hard hit as gold and silver.
On the company side, Azincourt zeroed in on a fertile uranium system on its Patterson Lake North project and also acquired Minergia, a Peruvian company, for $2 million from Cameco (TSX:CCO,NYSE:CCJ) and Vena Resources (TSX:VEM). Azincourt then vended that project to Macusani Yellowcake (TSXV:YEL), further broadening the company’s scope.
As the industry heads into the new year, the expectation is that times will be brighter as increased interest from utilities companies continues to drive the market. Stay tuned for our outlook for next year.
Securities Disclosure: I, Nick Wells, hold no direct investment interest in any of the companies mentioned in this article.
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Generation Uranium offers investors high-leverage exposure to a potential major discovery in Canada’s underexplored and resource-rich Thelon Basin, led by a management team with a proven track record of securing high-value exits.
Overview
Generation Uranium (CSE:GEN, OTCQB:GENR, FRA:W85) is a Canadian exploration company focused on wealth creation through discovery within the uranium sector. The company’s primary strategy is to build a high-caliber exploration team that can rapidly test and drill high-potential targets, de-risking projects for potential takeover by larger producers. Currently centered in the prolific Thelon and Angikuni Basins of Nunavut, the company is also actively evaluating additional project acquisitions in the Athabasca Basin to expand its portfolio.

The company is led by a veteran management team with nearly 30 years of experience in mineral development. CEO Michael Collins has a significant track record of building and exiting public companies, including the co-founding of Bluerock Resources, a conventional uranium producer during the 2000-2008 cycle. This expertise is paired with a focused business model that leverages modern geophysical targeting to accelerate exploration timelines and reduce costs, ensuring the company can deliver results quickly in a bullish uranium market.
Company Highlights
- Strategic Location in a Premier Uranium District: The flagship Yath Project is located in Nunavut’s Thelon Basin, contiguous to ATHA Energy’s Angilak Project, which hosts the high-grade Lac 50 deposit.
- High-Grade Discovery Potential: Historical surface sampling at the Yath Project has yielded exceptional uranium grades, including boulders testing at 9.81 percent, 3.95 percent, and 2.14 percent U3O8.
- Expert Management with Exit Experience: Led by CEO Michael Collins, the team has decades of experience in mineral exploration and a history of co-founding companies that were later acquired, such as Prime Mining and Nuclear Fuels.
- Low-Cost, Rapid Exploration Strategy: By leveraging modern geophysics and extensive historical data, the company aims for a "short road to discovery," de-risking projects quickly to maximize shareholder value.
- Bullish Market Fundamentals: Generation Uranium is well-positioned to meet the growing global demand for carbon-free nuclear power, supported by a projected supply deficit and increased interest from major tech companies seeking clean energy.
Key Project
Yath Project - Nunavut, Canada
The Yath Project is Generation Uranium’s flagship project. This 100 percent owned property covers about 120 square kilometers within the underexplored Thelon Basin in Nunavut, Canada. The project is located where the Yathkyed and Angikuni sub-basins meet, which is a region known globally for high-grade uranium potential. It sits directly along the same trend as the Angilak Project owned by ATHA Energy (TSXV:SASK, OTCQB:SASFK, FWB:XSU.F), which contains the Lac 50 deposit, one of the highest-grade uranium resources found outside of the Athabasca Basin with a historical mineral resource estimate of 43.3M lbs at an average grade of 0.69 percent U3O8.

The Yath Project is contiguous to the Lac 50 trend and is crossed by several regional faults and basin boundaries. Past exploration work has already identified high priority targets, while surface sampling in the area has produced uranium grades from boulders, with some testing at 9.81 percent, 3.95 percent, and 2.14 percent U3O8.
The company has commenced its initial field program at the site, set to define and rank drill targets. Historic showings will be combined with new anomalies from the MMT geophysics survey, preparing the project for an anticipated drill permit.
Management Team
Michael Collins - CEO & Director
Michael Collins is a professional geoscientist with nearly 30 years of experience in mineral exploration. He has co-founded several public companies, including Exploits Discovery, Prime Mining (acquired in 2025), and Nuclear Fuels (merged with Premier American Uranium in 2025). He is also currently a director of First Atlantic Nickel.
Christoph Bruening - Director
Christoph Bruening is the founder and managing partner of Value Relations GmbH, a full-service investor relations and public relations agency in Frankfurt with over 25 years of excellence, focusing on mining, exploration, biotech and health care. In addition, he has listed over 600 companies on the Frankfurt Stock Exchange and is a speaker and author of several publications, including on rare earths and uranium.
Dallas Miller - Director
Dallas Miller has been working within the international mining industry for over 15 years, working with BHP and Santos Ltd. He has experience on the ground from an operational standpoint, as well as being an integral part of raising millions of dollars in capital funding for both private and public companies in recent years.
Roger Leschuk - VP Corporate Development
Roger Leschuk has been in corporate management for over two decades, with the past 15 years dedicated to corporate development and investor relations. He has experience participating in and assisting with mergers and acquisitions, and was an investment advisor for various services such as stocks, mutual funds and tax-sheltered investments. He is a Chartered Investment Manager and a Fellow of the Canadian Securities Institute.
Monty Sutton - CFO
Monty Sutton brings over 35 years of experience in public markets and corporate governance. He previously served as CFO for Nuclear Fuels from its IPO through its acquisition.
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