NEW YORK, April 19, 2018 /PRNewswire/ --
A report published by Grand View Research estimates that the global nuclear energy demand is estimated to grow at a CAGR of over 4% from 2015 to 2022. Increasing power and energy demand from households and industrial sectors is expected to fuel market growth over the forecast period. The report indicates that rising clean power demand together with depleting fossil fuel reserves is expected to raise energy concerns, which are encouraging energy companies and governments to invest in the nuclear energy market. The energy market as a whole is expected to grow at a rapid rate on account of rising demand for energy sources that could achieve the goal of expanding infrastructure without having a negative impact on the environment. Anfield Energy Inc. (OTC: ANLDF), Uranium Energy Corp (NYSE: UEC), Energy Fuels Inc. (NYSE: UUUU), Ur-Energy Inc. (NYSE: URG), Denison Mines Corp. (NYSE: DNN)
Uranium is a non-renewable energy source that cannot be replenished in a short period of time. Mordor Intelligence explains that once uranium is extracted, it should be sent to processing facility where the ore is processed into enriched fuel in the form of fine pellets, which is then transported to the power plant. "The USA is the world's largest producer of nuclear power, accounting for more than 30% of worldwide nuclear generation of electricity… Ever growing energy demand, need for clean energy generation and governments initiatives towards achieving energy security are some of the factors which are expected to drive the market growth," the report explains.
Anfield Energy Inc. (OTCQB: ANLDF) is also listed on the TSX Venture Exchange under the ticker (TSX-V: AEC). Last week the company announced breaking news that it, "has engaged BRS Engineering to complete a mineral resource report for the Taylor Ranch uranium project in Wyoming. The Taylor Ranch project was purchased from Uranium One Americas Inc. ("Uranium One") in September 2016 and is one of the 25 uranium mining properties acquired in the Black Hills, Powder River Basin, Great Divide Basin, Laramie Basin, Shirley Basin and Wind River Basin areas of Wyoming. As a key part of this 2016 transaction, Anfield also signed a Resin Processing Agreement with Uranium One whereby Anfield would process up to 500,000 pounds per annum of its mined material at Uranium One's Irigaray processing plant in Wyoming.
Corey Dias, Anfield CEO, states "We are pleased to update and further delineate another uranium resource from amongst the 25 uranium projects acquired in Wyoming. Including the recently-commissioned Charlie Project resource report, this will be only the fifth NI 43-101 resource report commissioned for our Wyoming projects. So far, Anfield's three completed resource reports have increased its Indicated uranium resource portfolio by approximately 3.6 million pounds and its Inferred uranium resource by approximately 4.5 million pounds. Given that 80% of Anfield's Wyoming projects have yet to be addressed in terms of resource delineation, we believe a significant pipeline is emerging. Importantly, Anfield remains on course to deliver on its strategy of creating a long-term viable uranium production complex in Wyoming as a vital part of its portfolio of U.S. uranium assets".
About The Taylor Ranch Project - The Taylor Ranch Project is located in the Powder River Basin Uranium District in portions of Campbell, Converse, and Johnson Counties, Wyoming. Mineral rights at the Taylor Ranch Project include mining claims, Wyoming State leases, and private leases totaling some 5,620 acres.
Regional exploration drilling programs were conducted in the 1970's by the American Nuclear-Tennessee Valley Authority partnership, Conoco Minerals, and Kerr McGee. During this time ISR was not a common mining practice for the recovery of uranium and the discovery of shallower mineralization on the nearby Moore Ranch became the focus exploration to the detriment of deeper deposits such as Taylor Ranch. Subsequently, Power Resource Inc. began property acquisition at Taylor Ranch in 1993 and later formed a joint venture with Cotter Corp. A 1996 internal summary report by PRI titled "Properties, Ore Reserves and Resources", states the "Wide spaced exploration has intercepted ore grade mineralization and defined several thousand feet of mineralized roll fronts systems at depths of 800 to 1,000 feet."
In 2007-2008 Uranium One drilled 224 rotary drill holes with a total footage of 203,525, at a cost of approximately $694,000 US, on the Taylor Ranch Project. An internal report titled "Taylor Ranch Drilling Report" dated May 15, 2008, provides a summary of drilling results. Uranium One did not complete a 43-101 compliant mineral resource estimate for the Taylor Ranch Project. Drilling identified mineralized trends in the 30, 40, 50, 60, and 70 sandstone units of the Wasatch Formation with the majority of higher grade intercepts in the 30 and 40 sand units....
About BRS - BRS, Inc. is an engineering and geology consulting corporation with expertise in mining and mineral exploration. Of particular note, it specializes in uranium exploration, mineral resource evaluation, mine design, feasibility, mine operations, and reclamation. It has completed numerous uranium projects including technical reports and feasibility studies for underground, open pit, ISR, and conventional uranium mills. Representative projects include technical reports and due diligence for project financing for conventional uranium projects including the Sheep Mountain and the JAB-RD open pit in Wyoming, the Cibola Project in New Mexico, the Coles Hill, Virginia open pit and underground mine, and numerous ISR uranium projects in Wyoming and Paraguay. Douglas L. Beahm, P.E., P.G., the principal engineer at BRS, is a Qualified Person as defined in NI 43-101 with 40 years of professional and managerial experience. Mr. Beahm has a proven track record in a variety of mining and mine reclamation projects including surface and underground mining, heap leach recovery, ISR, and uranium mill tailings projects. Mr. Beahm's experience includes coal, precious metals, and industrial minerals, but his emphasis throughout his career has been on uranium. Mr. Beahm has reviewed and approved the technical content of this news release."
Uranium Energy Corp (NYSE: UEC) is a U.S. based uranium mining and exploration company. The Company's operations are managed by professionals with a recognized profile for excellence in their industry, a profile based on many decades of hands-on experience in the key facets of uranium exploration, development and mining. The Company controls one of the largest databases of historic uranium exploration and development in the country. Using this knowledge base, the Company has acquired and is advancing exploration properties of merit throughout the southwestern U.S. The Company's fully licensed and permitted Hobson processing facility is central to all of its projects in South Texas, including the Palangana in-situ recovery mine and the Goliad in-situ recovery project which is fully permitted for production and under construction. The Company has focused its property acquisition program primarily in the southwestern US states of Texas, Wyoming, New Mexico, Arizona and Colorado. This region has historically been the most concentrated area for uranium mining in the U.S.
Energy Fuels Inc. (NYSE: UUUU) is a leading uranium producer in the U.S. The company recently announced that it has achieved a major environmental milestone at its Alta Mesa Uranium Project in Texas. On March 16, 2018, the Company received a notice from the Texas Commission on Environmental Quality confirming that the Company accomplished final groundwater restoration at Production Area 1. Now that TCEQ has deemed wellfield restoration complete, the Company can proceed to well plugging and final closure of PAA1, including a reduction of the reclamation bond on the project and the return of restricted cash. Groundwater restoration following uranium recovery is one of the most important environmental compliance milestones that every U.S. in siturecovery ("ISR") facility must complete following production.
Ur-Energy Inc. (NYSE: URG) is a dynamic junior mining company operating the Lost Creek in-situ recovery (ISR) uranium facility in south-central Wyoming. Ur-Energy engages in uranium mining and recovery operations, with activities including acquisition, exploration, development, and operation of uranium mineral properties. Recently, the company provided the following operational resultsfor first quarter 2018. During the quarter, sales totaled $19.7 million on 380,000 pounds at an average price of $51.75 per pound, which was 140% above the average spot price for the same period of $21.52 per pound. In January, together with Energy Fuels, the company submitted a petition to the U.S. Department of Commerce for Relief Under Section 232 of the Trade Expansion Act of 1962 from Imports of Uranium Products that Threaten National Security. The Petition seeks an investigation as required under the Trade Act, as well as suggesting relief which might be implemented. We currently await the initiation of the investigation by the DOC.
Denison Mines Corp. (NYSE: DNN) is a uranium exploration and development company with interests focused in the Athabasca Basin region of northern Saskatchewan, Canada. In addition to its 63.3% owned Wheeler River project, which ranks as the largest undeveloped high-grade uranium project in the infrastructure rich eastern portion of the Athabasca Basin region, Denison's Athabasca Basin exploration portfolio consists of numerous projects covering approximately 353,000 hectares. Recently, the company reported the discovery of high-grade uranium mineralization 600 metres and 1 kilometre to the northeast of the Gryphon uranium deposit, on the Company's 63.3% owned Wheeler River project, in northern Saskatchewan. The winter drilling program is now complete, resulting in a total of 21,153 metres drilled in 29 diamond drill holes. The program was focused on step-out drilling along strike of the Gryphon deposit and reconnaissance level regional exploration along the K-North and K-West trend.
Subscribe Now! Watch us report LIVE https://www.youtube.com/FinancialBuzzMedia
Follow us on Twitter for real time Financial News Updates: https://twitter.com/financialbuzz
Follow and talk to us on Instagram: https://www.instagram.com/financialbuzz
Facebook Like Us to receive live feeds: https://www.facebook.com/Financialbuzz/
FinancialBuzz.com, a leading financial news informational web portal designed to provide the latest trends in Market News, Investing News, Personal Finance, Politics, Entertainment, in-depth broadcasts on Stock News, Market Analysis and Company Interviews. A pioneer in the financially driven digital space, video production and integration of social media, FinancialBuzz.com creates 100% unique original content. FinancialBuzz.com also provides financial news PR dissemination, branding, marketing and advertising for third parties for corporate news and original content through our unique media platform that includes Newswire Delivery, Digital Advertising, Social Media Relations, Video Production, Broadcasting, and Financial Publications.