One of America’s uranium producers is making a strategic investment into an early stage exploration company. But, why?
What’s happening:
- Uranium exploration company Nuclear Fuels (CSE: NF) has raised $13.9M CAD in a new equity financing round
Why it matters:
- Nuclear Fuels' flagship project is the Kaycee ISR Uranium Project located in Wyoming’s Powder River Basin, which is one of the most historic geographic regions for uranium discoveries in the United States
Going deeper:
- Nuclear energy producer enCore Energy (NASDAQ: EU) has been a early strategic investor in Nuclear Fuels and also participated in the recent financing
- The state government of Wyoming also just recently approved Uranium Energy (NYSE: UEC) to increase their annual uranium production significantly at their Irigaray Processing Plant
The intrigue:
- enCore Energy previously made waves when they officially restarted uranium production at their South Texas Rosita processing plant, making them the first new producer of uranium in Texas in a decade
