Valor Resources Limited (Valor) or (the Company) (ASX: VAL) is pleased to present its Quarterly Report and Cash Flow Report.
HIGHLIGHTS
CANADIAN URANIUM – ATHABASCA BASIN:
PERUVIAN COPPER:
CORPORATE:
Figure 1: Athabasca Basin Projects
CLUFF LAKE URANIUM PROJECT
Several priority drill targets have been defined at the Cluff Lake Uranium Project following the interpretation of airborne gravity gradiometry (AGG) and magnetic data acquired by the Company in June 2022, re-processing of historical airborne EM data (MEGATEM) and initial reconnaissance fieldwork. Details of the targets were reported in the ASX announcement dated 8th February 2023 titled “Final priority drill targets selected for Cluff Lake Uranium Project field season”.
Click here for the full ASX Release
This article includes content from Valor Resources, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Cameco (TSX: CCO; NYSE: CCJ) announced today the appointment of Catherine Gignac as chair of Cameco's board of directors effective December 1, 2023.
Gignac will succeed Ian Bruce, who passed away on October 15, 2023. Bruce had served as Cameco's board chair since May 2018.
"I am honoured to be appointed chair and given the opportunity to lead this exceptional board and management team as Cameco continues to serve the thriving nuclear energy industry," Gignac said. "I am humbled to take over this role from Ian, who provided a steady hand during tumultuous times and helped bring Cameco the success it is experiencing today."
Gignac has been a member of Cameco's board since 2014. She is chair of the nominating, corporate governance and risk committee and serves on the audit and finance and technical committees. She has more than 30 years of experience in capital markets and the mining industry and has held senior positions as a mining equity research analyst with leading global brokerage firms and independent boutiques. Gignac, who previously worked as a geologist, has extensive experience in project value and investment analysis.
"Catherine has been a strong member of Cameco's board for nearly a decade and has provided valuable insight and technical expertise through the varied and complex issues that have faced our company. I look forward to Catherine assuming the role of board chair and continuing to champion Cameco's work," said Cameco President and CEO Tim Gitzel.
Profile
Cameco is one of the largest global providers of the uranium fuel needed to energize a clean-air world. Our competitive position is based on our controlling ownership of the world's largest high-grade reserves and low-cost operations, as well as significant investments across the nuclear fuel cycle, including ownership interests in Westinghouse Electric Company and Global Laser Enrichment. Utilities around the world rely on Cameco to provide global nuclear fuel solutions for the generation of safe, reliable, carbon-free nuclear power. Our shares trade on the Toronto and New York stock exchanges. Our head office is in Saskatoon, Saskatchewan, Canada.
View source version on businesswire.com: https://www.businesswire.com/news/home/20231130762133/en/
Investor inquiries:
Rachelle Girard
306-956-6403
rachelle_girard@cameco.com
Media inquiries:
Veronica Baker
306-385-5541
veronica_baker@cameco.com
News Provided by Business Wire via QuoteMedia
Cameco (TSX: CCO; NYSE: CCJ) announced today the appointment of Catherine Gignac as chair of Cameco's board of directors effective December 1, 2023.
Gignac will succeed Ian Bruce, who passed away on October 15, 2023. Bruce had served as Cameco's board chair since May 2018.
"I am honoured to be appointed chair and given the opportunity to lead this exceptional board and management team as Cameco continues to serve the thriving nuclear energy industry," Gignac said. "I am humbled to take over this role from Ian, who provided a steady hand during tumultuous times and helped bring Cameco the success it is experiencing today."
Gignac has been a member of Cameco's board since 2014. She is chair of the nominating, corporate governance and risk committee and serves on the audit and finance and technical committees. She has more than 30 years of experience in capital markets and the mining industry and has held senior positions as a mining equity research analyst with leading global brokerage firms and independent boutiques. Gignac, who previously worked as a geologist, has extensive experience in project value and investment analysis.
"Catherine has been a strong member of Cameco's board for nearly a decade and has provided valuable insight and technical expertise through the varied and complex issues that have faced our company. I look forward to Catherine assuming the role of board chair and continuing to champion Cameco's work," said Cameco President and CEO Tim Gitzel.
Profile
Cameco is one of the largest global providers of the uranium fuel needed to energize a clean-air world. Our competitive position is based on our controlling ownership of the world's largest high-grade reserves and low-cost operations, as well as significant investments across the nuclear fuel cycle, including ownership interests in Westinghouse Electric Company and Global Laser Enrichment. Utilities around the world rely on Cameco to provide global nuclear fuel solutions for the generation of safe, reliable, carbon-free nuclear power. Our shares trade on the Toronto and New York stock exchanges. Our head office is in Saskatoon, Saskatchewan, Canada.
View source version on businesswire.com: https://www.businesswire.com/news/home/20231130762133/en/
Investor inquiries:
Rachelle Girard
306-956-6403
rachelle_girard@cameco.com
Media inquiries:
Veronica Baker
306-385-5541
veronica_baker@cameco.com
News Provided by Business Wire via QuoteMedia
An Emerging Markets Sponsored Commentary
Former Apple CEO, John Scully, is widely credited with the simple phrase, "Timing is Everything." Another Apple CEO, Steve Jobs, would execute on that mantra, crafting revolutionary products into seas of change with the Internet, personal computing, portable music, and smart phones.
The results were epic.
In most great success stories there is a tide, a thing beyond the control or creation of man alone. It is a thing that exists on its own… indomitable, inimitable.
The best of men, companies in this context, will harness the tide, ride the wind, or take this change agent and make it their own.
Because timing IS everything.
A short while ago Laramide Resources announced an "Off-Scale" Radioactivity Reading about a uranium mining discovery:
"Laramide Resources Ltd. (TSX: LAM) (ASX: LAM) (OTCQX: LMRXF), which holds a portfolio of development stage uranium assets strategically positioned in the United States and Australia has been actively exploring for even more uranium on its prospective land package, when it made that banner-making discovery."
Here's the comment from CEO Marc Henderson from the press release :
"The exploration discovery of an "off-scale" mineralization reading and the sighting of outcropping uranium at a prospective new drill target was an unexpected bonus and will be followed up in 2024."
Bonus is right because "off-scale" indicates high levels of radioactivity which may be associated with the presence of uranium minerals. Specifically, recent reconnaissance exploration at the U-Valley target has discovered extensive zones of surface radioactivity in Westmoreland Conglomerate including isolated "off scale" (>65,535cps) points using a Super-Spec RS-125 Spectrometer. Geological mapping and ground scintillometer surveys are currently underway to refine the target zones ahead of potential scout drilling in the 2024 field season.
It is important to note within this context that economic viability or concentration of uranium ore require further analysis, including assays and core drilling, to assess the potential for uranium extraction and the economic feasibility of mining in the above area.
Now about that timing part.
Literally the exact same day as this news about off-scale discoveries and progress hit the wire, a compelling article posted at a top mining publication, Kitco , noted that uranium had hit a 15 year high. The article further notes that:
"The chart tracking uranium futures illustrates remarkable performance since the beginning of 2023, with an increase of over 50%. To put this in perspective, the gold spot price has risen by nearly 10%, while the S&P index has seen an uptick of around 8%."
Historically, this translates into potential greater investment in the uranium category and potential heightened interest in current and prospective uranium operations.
Mining is one of the rarest of industries where the earth may not move beneath your feet but the value sure can. As spot prices rise so do margins as mining costs do not generally change when prices are ascendant.
Laramide's uranium properties could have greater potential profitability if uranium prices stabilize here or even continue to rise.
Having an off-scale discovery right now couldn't be much better -- Not when timing is everything.
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KEY POINTS:
Aura is delighted that His Excellency Mr. Nany Chrougha, Mauritania’s Minister of Mines, is supporting His Excellency President Mohamed Ould Cheikh El Ghazouani’s goal of ensuring the development of a strong resources industry in Mauritania. This goal has seen the reopening of the Mining Cadastre and the Ministry has begun accepting applications for exploration tenure, including Aura’s application.
Aura has completed the application processes and filed exploration tenure applications covering an extensive 13,000 km2. The new tenure application areas were selected following a detailed 12-month evaluation program based on historical drilling and radiometric data and analogues from the Company’s successful uranium discoveries, which underpin the Tiris Uranium Project. This analysis led to the recent Exploration Target announced for the existing Tiris East Resource areas2, for which drilling is planned to commence before the end of 2023. The Company is confident that the proven model for successful exploration can be extended across the wider Tiris Zemmour region by extending the exploration footprint.
Subject to the successful granting of these applications, Aura will work to progressively confirm and test exploration targets within these tenements through 2024 and 2025.
Figure 1 - Exploration Tenement Applications
Chairman Phil Mitchell commented:
“Our geologists are confident that the Tiris Zemmour region of Mauritania is a world-class uranium region, similar in importance to the uranium market as the Pilbara region in Western Australia is for iron ore. We believe Aura’s uranium-enriched carnotite zone extends across the north-eastern Mauritania area of Tiris Zemmour, and our exploration success to date provides validation for pursuing further strong growth platform for Aura’s shareholders and our Mauritanian partners.
“With the potential for our current Tiris West resource to be materially expanded, the Company strategy is to:
Aura’s Managing Director and CEO David Woodall said,
"Aura Energy has already established a commanding position with its Mineral and Reserves and Resources at Tiris West, which has put us in a position to consider a final investment development decision in the coming months.
“Combined with our recently announced Exploration Target, these tenement applications – if successful – will give us an opportunity to be a driving force to realise the full potential of this region, which we believe could be truly world-class in scale.
“Our development strategy for Tiris is complemented by our exploration strategy, which aims to grow our resources and allow scaled-up production over time in a capital-efficient manner.
“We look forward to working with our stakeholders to progress our applications, ultimately growing the Tiris Project into a global-scale project that contributes to Mauritania's economic and social development.”
Click here for the full ASX Release
This article includes content from Aura Energy, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.