The Conversation (0)
Jun. 07, 2011 10:50AM PST
In an exclusive interview with Uranium Investing News, Alexei Lebedev, General Director for the International Uranium Enrichment Centre in Moscow, indicated that it is still too early to understand the long term implications of Germany’s announcement to close its nuclear reactors by 2022.
On May 30, the German government announced its decision to close all its nuclear reactors by2022, a critical decision that could have considerable implications. According to the International Monetary Fund and the World Bank, Germany’s economy represents the fourth largest in the world. Last year, nuclear power was responsible for 23 percent of the German domestic energy mix. On Friday, Chancellor Angela Merkel agreed with state premiers on a phased exodus plan of nuclear power and to stick to plans to more than double the share of renewables to 35 percent by 2020. The changes to power grid expansion plans and the subsidy system for renewable energy, such as solar and wind, must be approved by both chambers of parliament in order to confirm the change of course on energy strategy by the parliamentary summer break in July.
Mounting debate
Prior to Germany’s announcement, there had been some underpinning political pressure on the nuclear industry. In 2009, as much as 26 percent of Germany’s energy was supplied by nuclear power, and a previous coalition government had planned to shut down Germany’s nuclear power stations by 2021. The current administration altered the policy last September by announcing intentions to lengthen the life of the country’s nuclear reactors by an average of 12 years. This extension was controversial in Germany before the radioactive leaks at the Fukushima plant, and these reservations were implicitly defined as the country had no planned or proposed reactors factoring into its future energy solutions.
International impact
Last month, UK Energy and Climate Change Secretary Chris Huhne issued an interim report into the events at the Fukushima nuclear plant in Japan and immediate lessons that could be applied to the UK nuclear industry. In the interim report, Dr. Mike Weightman indicated that the UK has displayed a strong safety culture in its response to the leak and current safety measures are adequate. Dr. Weightman also suggested that it would not be necessary to make any immediate safety improvements to operating nuclear reactors in the UK. The country currently operates 19 nuclear power plants, with 13 additional planned or proposed the industry has generated as much as 18 percent of the nations’ electricity.
In an interview with the Times, a former UK government chief scientist, Sir David King, cautioned that global climate change would be difficult to reverse if more countries followed Germany in rejecting nuclear power as a low-carbon source of energy, “The British Government’s decision is based on a technical analysis of risk and a thorough examination of the lessons learnt from Fukushima, which has rightly not deflected it from its plans,” Sir David said. “If other countries wish to follow an example, they should look at Britain’s response rather than Germany’s.”
The International Energy Agency (IEA) issued a report at the end of last month espousing that much of the solution to rising carbon dioxide emissions can be found in enhancing energy efficiency, improving the efficiency of electricity usage and powering electricity with renewable sources of energy, nuclear and carbon capture and storage.
On Monday, French Energy Minister Eric Besson announced that he wants the European Commission to organize a ministerial meeting to discuss the effects of Germany’s decision to phase out nuclear power by 2022. France currently operates 58 nuclear reactors, second in the world after the United States; however, the country still needs to import energy from neighboring countries like Germany when facing seasonal electricity demand peaks during the summer.
In an exclusive interview with Uranium Investing News, Alexei Lebedev, General Director for the International Uranium Enrichment Centre in Moscow, indicated that it is still too early to understand the long term impact of Germany’s announcement. Lebedev noted the recent news might have an impact on nuclear power developments around the world, “especially for the countries located in seismic zones. A lot would depend, however, on how well Japan and the world nuclear community cope with the accident.” Looking forward he was optimistic that “eventually this would lead to safety upgrades in the NPP designs.”
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Investor Insight
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.
