Iran is taking the fifth and final step in reducing its commitments to the Joint Comprehensive Plan of Action, a deal signed in 2015.
Iran has clarified statements released over the weekend, when it said it will go ahead and enrich uranium above and beyond the guidelines set out in the now-deteriorating Joint Comprehensive Plan of Action (JCPOA).
Also known as the nuclear pact, the JCPOA was signed by nations including Iran and the US in 2015.
The Obama-era deal set strict guidelines around Iran’s nuclear program, limiting the amount and grade of uranium the nation is allowed to possess. For its cooperation, Iran had sanctions against it eased.
In May 2018, US President Donald Trump pulled the US out of the multinational deal, and his administration has since applied new sanctions on Iran, impeding its oil sector; relations between Washington and Tehran have been strained ever since.
Most recently, the US ordered the killing via drone strike of Iranian general Qassem Soleimani, which has further strained already tense relations.
According to a Sunday (January 5) release, the Islamic Republic is taking the fifth and final step in reducing its commitments to the JCPOA. This latest measure relates to the limit on the number of centrifuges used to enrich uranium.
“As such, the Islamic Republic of Iran’s nuclear program no longer faces any operating restrictions (including enrichment capacity, percent enrichment, amount of enriched material, and R&D),” reads the statement. “… If the sanctions are lifted and Iran benefits from its interests, the Islamic Republic of Iran is ready to return to its obligations.”
Iran’s foreign minister, Javad Zarif, took to Twitter (NASDAQ:TWTR) shortly after to clarify that the country is willing and able to reverse these measures and will continue to comply with the International Atomic Energy Agency (IAEA).
As 5th & final REMEDIAL step under paragraph 36 of JCPOA, there will no longer be any restriction on number of centrifuges
This step is within JCPOA & all 5 steps are reversible upon EFFECTIVE implementation of reciprocal obligations
Iran’s full cooperation w/IAEA will continue
— Javad Zarif (@JZarif) January 5, 2020
While concerns abound regarding the nation’s plans to ramp up enrichment, Richard Johnson, senior director for fuel cycle and verification at the Nuclear Threat Initiative, told NPR in an audio interview on Monday (January 6) that much should be noted from what the country didn’t say.
“Again, what’s interesting is it seems that Iran is staying within this peaceful case. They did not announce, for example, that they wanted to reconstitute a plutonium production reactor at Arak that they had actually taken apart under the deal. And this is a facility that Israel was extremely concerned about.”
While Johnson believes it’s more important to watch what Iran does instead of what it says, European leaders quickly scrambled to organize a meeting of 28 foreign ministers in an effort to prepare for Iran to breach the nuclear deal.
“The deal is all but dead, but we will do everything to slow and limit the (nuclear) proliferation slope that has been taken to try and save what can be saved,” a European diplomat told Reuters on Monday.
The meeting of European ministers is set to take place this Friday (January 10).
By Tuesday (January 7) morning, Iran’s deputy foreign minister, Abbas Araghchi, was pulling back from the tough stance taken over the weekend.
“The nuclear deal is not dead yet,” Araghchi told IRNA, Iran’s state news agency. “We are ready to come back to full compliance with the deal depending on the ending of sanctions and gaining from the economic benefits of the deal.”
In the meantime, the IAEA has committed to continuing to monitor and verify activities in the country and will report back to JCPOA member nations in a timely fashion.
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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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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