With the world progressively sensitive to global warming, the news that 2010 was a record year for greenhouse gases levels was yet another undesirable milestone. The thorium fuel cycle, with its potential for breeding fuel without the need for fast neutron reactors, holds some potential in the long term sustainability of nuclear energy.
By Dave Brown – Exclusive to Uranium Investing News
Thorium is a naturally-occurring, slightly radioactive metal discovered in 1828 by a Swedish chemist, Jons Jakob Berzelius, who named it after Thor, the Norse god of thunder. The silvery white metal is found in small amounts in most rocks and soils, where it is about three times more abundant than uranium. Typical garden variety soil commonly contains an average of around 6 parts per million (ppm) of thorium.
Applications
Thorium oxide, also called thoria, has one of the highest melting points of all oxides at 3300°C. When this oxide is heated in air, thorium metal turnings ignite and burn brilliantly with a white light. Because of these properties, thorium has found applications in welding electrodes, heat-resistant ceramics, light bulb elements, lantern mantles and arc-light lamps. Glass containing thorium oxide has a high refractive index and dispersion and is used in high quality lenses for cameras and scientific instruments.
Sources and geographical distribution
The most common source of thorium is the rare earth phosphate mineral, monazite, which may contain up to about 12 percent thorium phosphate; however, the average is closer to a 6-7 percent range. Monazite is found in igneous and other rocks but the richest concentrations are in placer deposits, concentrated by wave and current action with other heavy minerals. World monazite resources are estimated to be about 12 million tonnes, two-thirds of which are in heavy mineral sands deposits on the south and east coasts of India. Australia is estimated by the USGS to host approximately 24 percent of the world’s thorium reserves. A large vein deposit of thorium and rare earth metals have been discovered in the Lemhi Pass region of Idaho and Montana.
Going nuclear
Although not fissile itself, thorium has started to reemerge as a tempting prospect to employ as fuel in nuclear power reactors. Thorium 232 will absorb slow neutrons to produce uranium 233, which is fissile (and long-lived). The irradiated fuel can then be unloaded from the reactor, the uranium 233 separated from the thorium, and fed back into another reactor as part of a closed fuel cycle. Alternatively, uranium 233 can be bred from thorium in a blanket, the uranium 233 separated, and then fed into the core.
The use of thorium-based fuel cycles has been studied for about 40 years, but on a much smaller scale than uranium or uranium/plutonium cycles. Basic research and development has been conducted in Germany, India, Japan, Russia, the UK and the USA. China and India have been among primary catalysts in research efforts to use it. Test reactor irradiation of thorium fuel to high burn-ups has also been conducted and several test reactors have either been partially or completely loaded with thorium-based fuel.
Thorium can be used in Generation IV and other advanced nuclear fuel cycle systems. China has been working on developing the technology for sodium cooled fast reactors which are a type of liquid fluoride thorium reactors (LFTRs). The advanced breeder concept features a molten salt as the coolant, usually a fluoride salt mixture. This is hot, but not under pressure, and does not boil below about 1400°C. Much research has focused on lithium and beryllium additions to the salt mixture. In mid-2009, AECL signed agreements with three Chinese entities to develop and demonstrate the use of thorium fuel in the Candu reactors at Qinshan in China.
India is working on adapting heavy water reactors in order to effectively secure domestic long term energy requirements and make use of their abundant supply of thorium for prospective commercial international energy solutions. The technological development would harness external innovation in both equipment and fuel that would allow India to use its ample indigenous supply of thorium.
Areva Group (EPA:CEI) and Lightbridge Corporation (NASDAQ:LTBR), agreed in 2009 to collaborate on earlier research efforts to assess the use of thorium fuel in Areva’s Pressurized Water Reactor (EPR). Other endeavours include the development of the Radkowsky Thorium Reactor concept being carried out as a joint venture involving Lightbridge aligned with a Russian collaboration.
Well-known mining and exploration analyst and geologist Mickey Fulp summarized some disadvantages of the challenges that the potential of thorium could possess in substitution for uranium as a fuel for the nuclear industry: U233 can be used in nuclear weapons; some long-lived radionuclides; and complicated fuel fabrication. As a matter of course, he qualified the initial consideration regarding U233, “although it is not commonly used and it has never been used to any great extent, it can be used to make an atomic bomb.” In a recently published paper he summarizes, “Perhaps the most promising niche for thorium-fueled electrical power is in small modular reactors designed for remote locations. In my opinion, thorium will supplement base load electrical generation within the next decade or so but it will not replace uranium-fueled nuclear power in our lifetimes.”
Sense of urgency
With the world progressively cognizant and sensitive to global warming, the news that 2010 was a record year for greenhouse gases levels was yet another undesirable milestone. The earth’s population is estimated to hit nine billion by 2050, which underscores the increasing urgency of delivering safer, cleaner, reliable and renewable sources of energy. In reconciling competing economic, social, environmental and political agendas the future of nuclear technology will be of significant interest in the coming decades. Much development work appears to be required before the thorium fuel cycle can be commercialised, and the effort required may be unlikely while (or where) abundant uranium is available. Nevertheless, the thorium fuel cycle, with its potential for breeding fuel without the need for fast neutron reactors, holds considerable potential in the long term and should be a consideration in the sustainability of nuclear energy.
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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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