The Conversation (0)
Oct. 10, 2013 04:30AM PST
India is very interested in nuclear power. The country has 20 nuclear reactors in place, seven under construction, 18 planned and 39 proposed, all of which boils down to the fact that India is going to need uranium to feel those reactors. Lots and lots of uranium.
Official sources for the EAS told the Economic Times of India, that “[t]he new government in Australia has said they would be happy to schedule a meeting on uranium matter relatively very soon and therefore the issue could be deliberated upon during this meeting.”
But Australia is not the place that India is looking to get its uranium — India is in talks with Uzbekistan as a possible source of uranium. The East Asian country has been scoping out prospects in Central Asia to help meet its uranium needs.
India already has standing contracts with Kazakhstan and Mongolia, according to the Times of India. From Uzbekistan, India is hoping to import about 2,000 tonnes of uranium by 2014.
India’s Department of Atomic Energy explained that India “is not … focusing on Central Asia only, but the region happens to have proven reserves of uranium.” At this point, India is trying to secure uranium wherever it can.
Nuclear cooperation agreement finalized
One connection in India’s favor was finalized at the end of September, when a nuclear cooperation agreement (NCA) between India and Canada was set in motion. The NCA has been in the works since 2010, and the negotiation process was finally completed.
Showing support for the NCA was global uranium heavyweight Cameco (TSX:CCO), which sees the NCA as a benefit to both countries.
“India has one of the most aggressive growth plans for nuclear energy in the world,” said Tim Gitzel, Cameco’s president and CEO. “The completion of the Canada-India NCA now gives us the ability to supply Canadian uranium to this important future growth market, which will mean more jobs, more investment and more development here in Canada.”
Gitzel went on to applaud the Canadian and Saskatchewan governments for opening marketing channels to India and securing assurance that Canadian uranium will be used exclusively for peaceful purposes.
AREVA says time to buy
The world’s second-largest uranium producer, AREVA (EPA:AREVA), is advising uranium consumers to start placing their uranium orders before prices pick up.
With uranium prices expected to make a comeback in the near future, Olivier Wantz, head of Areva’s mining division, explained in a recent interview that “[a]ll new nuclear plants will significantly boost demand in coming years, even taking into account the phasing out of German plants.”
Company news
Fission Uranium (TSXV:FCU) and Alpha Minerals (TSXV:AMW) released the results from drill hole PLS13-099, which was made along the easternmost section of the R945E zone. The hole returned 144-meter total composite mineralization, including 8 meters total composite of off-scale radioactivity. In short, the hole represents the largest accumulation of mineralized intervals of any drill hole to date at the Patterson Lake South property.
“Hole PLS13-099 has delivered mineralization of incredible width and in a location that extends our confirmed strike length of on trend mineralization to 1.03km. Results include substantial off-scale radioactivity and represent impressive growth for both the zone and the PLS discovery as a whole,” Ross McElroy, president, COO and chief geologist for Fission, said in the company’s statement.
The companies also recently announced that they will be expanding the summer program at Patterson Lake by $2.25 million, bringing the program’s budget total to $9.2 million. With the additional funds, the company will be adding 3,700 meters of drilling to the program, which will be aimed at testing the highly prospective targets on the western side of the R00E zone.
Fission’s other joint venture partner, Azincourt Uranium (TSXV:AAZ), has also been busy lately. The companies released the initial results of the recently acquired VTEM max airborne geophysical survey and exploration plans at the Patterson Lake North property.
Ted O’Connor, president and CEO of Azincourt, commented, “[i]t is great to see the VTEM max survey has had immediate results defining a new north-south conductor system and ground follow up has already started. Azincourt is looking forward to developing the target inventory at PLN and starting the drill program with Fission this winter.”
Aldrin Resource (TSXV:ALN) just announced a non-brokered private placement of $1 million. The private placement consists of up to 10,000,000 units at a price of $0.10 per unit. Further to the news, Aldrin also announced an agreement to purchase a 100-percent interest in the Virgin uranium property in the Athabasca Basin.
Securities Disclosure: I, Vivien Diniz, hold no investment interest in any of the companies mentioned.
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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.
