The US uses more uranium than any other country,1 but produces almost none2 — unlike the former Soviet bloc. In today’s geopolitical climate, that’s extremely dangerous.
Our energy security — and national security — depends on finding more sources of the yellow metal. Basin Uranium Corporation (CNSX:NCLR, OTC:BURCF) could hold the answer we need.
Between power plants, weapons, and scientific endeavors, the US uses about a quarter of all the uranium produced in the world.
But the country is responsible for less than 1% of global production.
That might not be so bad… if it weren’t for the fact that the vast majority of uranium production occurs in unfriendly countries.
Russia-aligned Kazakhstan alone produces nearly half of world’s uranium — and it’s responsible for an even larger percentage of uranium destined for export.
You may notice — it didn’t always used to be this way.
Ten years ago the US produced 30 times as much uranium as it does today.
However, thanks to a cyclical bear in uranium that only recently ended, investment in discovery and build-out of new resources has been virtually non-existent for the past decade.
That’s even worse than it sounds.
You may notice in the above chart that we already have a shortfall in production. Last year, supply fell short of demand by a full quarter.
Meanwhile, the world has plans to potentially double the number of nuclear plants in operation over the next fifteen years.
That’s why smart mining companies are jumping into this marketplace now — right at the secular start of a major bull run for the uranium market.
Companies like Basin Uranium (CNSX:NCLR,OTC:BURCF), which controls one of the best uranium properties in the entire US — right next to one of the few federally-permitted projects making plans for mine development right now.
This project has been the subject of extensive exploration historically — but this ceased when demand grew slack in the previous secular cycle.
The situation is very different today, with uranium recently hitting a 12-year high. The world needs more supply, fast.
Given how much of the uranium market is controlled by countries like Russia, China, Kazakhstan, and Uzbekistan, the situation for this strategically important material could fast become dire.
Especially since the US is not the only customer currently seeking new uranium production:
South Korea’s new president, Yoon Suk Yeol, is pushing forward a nuclear power program designed to allow Korea to retire its coal-fired power plants. This is a necessary step to reduce greenhouse gas emissions in line with international pledges, like The Paris Climate Accord.
Japan, long dependent on international energy imports, is restarting seven nuclear reactors, bringing the total number of reactors online to 17. Public opinion has shifted quite a bit in the last decade. Today, over half the population wants to see more nuclear power, for energy independence. In 2019, Japan got 6% of its electricity from nuclear. Prime Minister Fushio’s stated goal is to get that to 20-22% in short order.
Germany has backtracked on shuttering its remaining nuclear plants, as Russia’s war in Ukraine has disrupted its supply of oil and natural gas. Not only is it going to keep its current nuclear power plants going — but the country is actively looking to develop new nuclear power plants.
England is doing the same — looking to increase its nuclear power generation over the coming years. Both to protect against energy blackmail of the sort Russia employs, and to reduce greenhouse gas emissions. It wants to jump from the 16% of electricity generation from nuclear today, to 25% by 2050. It’s doing this by building eight new reactors. The first one, with over $800 million already pledged to the $20 billion+ project, could account for 7% of all electricity generation all by itself.
France — which already gets 70% of its power from nuclear — is developing six new plants, and extending the life of every single plant currently in use.3
In short, nuclear power is not only back in trend, it is at the beginning of a major renaissance.
With newer reactors much safer than in days past, and every country struggling to keep the lights on while simultaneously reducing greenhouse gases, nuclear’s best days appear just ahead of us.
And that’s tremendous news for uranium explorers.
Because, simply put, we don’t have enough uranium supply to satisfy demand today.
That is true of the world in general — but it is especially so in the US and its currently anemic uranium production.
With new plants coming online over the next few years, that gap will only grow wider.
Which is why, once again, uranium is headed for one of the greatest commodity booms in a generation. Perhaps even greater than the last rally – which sent prices to nearly $150/lb.
- That’s 5-times higher than uranium prices 3 years ago,
- 3-times higher than where prices started this year,
- and still 2-times higher than current.
More Than Half of Global Uranium Supply Under Severe Threat
We’re already in a shortfall — and it’s going to get worse over time.
Little wonder that uranium went from around $48 per pound to start the year, to nearly double by March.4
And then the war in Ukraine hit full force, potentially cutting supply in half as Russia and former USSR countries produce the majority of the world’s supply.
Believe it or not, Kazakhstan is one of the key countries involved in extracting uranium.
With low labor costs and the world’s largest proven reserve of uranium, Kazakhstan can pull the metal out of the ground for about $18 a pound.
Or it used to.
Today, Kazakhstan is in disarray, with political violence rampant and a civil society barely holding together.
Before Kazakhstan erupted in political violence it produced nearly 42% of the world’s uranium supply.
Now, with Russia’s invasion of Ukraine, another 5% of uranium production is currently embargoed, creating the ultimate squeeze. And with a number of smaller producers in the region facing similar issues, the world’s uranium supply has been cut in half.
Major supply disruptions from Central Asia and Eastern Europe, with more than half the world’s annual production, are sending nuclear power operators on a frenzied hunt to lock in new sources.
Producers With a Focus on Russia, Kazakhstan, and Ukraine Are in Freefall
The colossal Kazakhstan state-owned mining company Kazatomprom, the world’s top uranium producer, has lost a whopping 44% of its total value in a few short months.
Then, in November 2021, political violence inflamed Kazakhstan, the world’s biggest producer and home to 42% of global uranium supplies.5
Investors fled the market, concluding the country was no longer a safe and stable destination for Western capital.
Now the Russian invasion of Ukraine threatens to disrupt supply from the world’s eleventh-largest producer.6
Russian President Vladimir Putin is aiming for the same strategic prize that launched Hitler’s attack on Ukraine in World War Two.7 Greater Ukraine is one of the leaders in Europe in proven recoverable reserves of uranium ores.8
- Russia gets 21% of its electricity from nuclear-powered plants, and is quickly expanding its nuclear reliance.9
- The country produces about 2,846 tonnes of the yellow metal per year.10
- Yet that number is only about half of its annual requirement of 5,500 tonnes per year, according to the non-profit World Nuclear Association.11
Russia is on a quest to control the world’s uranium, starting with the resources right outside its back door.
And that is setting up a once-in-a-lifetime opportunity as the Western world scrambles to lock in alternate supply.
Now the focus turns to the U.S. and Canada to ramp up exploration and production.
The Greatest Opportunity Of All Is In The Junior Mining Sector
“In short, you want to own the explorers.”
Western nations are scrambling to find new suppliers, unleashing one of the greatest commodity booms in history.
A brief but powerful bull market that could launch the fortunes of a handful of obscure mining companies and the investors who back them.
Just look what happened in past uranium bull markets:
- The 2007 boom, when uranium rallied from $15 to a high of $136, rewarded junior mining company investors with gains like 11,525%, 13,816%, and 183,871%.
- The 2010 “mini” boom returned gains as high as 1,104%, 1,233%, and 4,575%.
- Now the 2023 uranium boom could be the biggest of all as two megatrends collide.
Tiny Canadian Explorer/Developer Could Ride a 10-year Uranium Bull Market
With important assets inside the contiguous US, Basin Uranium could hold one of the most important uranium properties. Building out domestic production is a matter of national security — and Basin is seizing the opportunity.
The company’s Chord project, located in South Dakota, may prove to be a project of real significance.
The reason? The US badly needs to increase domestic production.
You may remember that the US currently produces less than 1% of uranium, while using over a quarter of global production.
That simply isn’t sustainable. Especially if relations with former Soviet bloc countries like Kazakhstan deteriorate.
The Chord Project looks to be a large part of the answer.
It is just three miles from a new uranium mine being developed by enCore Energy for production in 2025.
In fact, Basin’s 3,000-acre Chord Project shares the same geology – the Chilson member – which is the rock formation that hosts the uranium enCore is planning to mine.
Uranium mineralization has already been discovered on the Chord Project, thanks to extensive exploration amounting to more than 1,000 drill holes by Union Carbide– one of the largest industrial companies of the last millennium.12
Unlike other exploration projects, Basin Uranium can quickly advance the project and expects to get some promising drill results next year, due to the vast amount of historical work done on the property.
Indeed — the historical results already produced are extremely exciting, and are suggestive of a very large find.
But that is just one exciting project that Basin Uranium is pursuing.
In addition, the company has over 6,200 acres in Utah, at its Wray Mesa Project.
Located near state roads, Wray Mesa is one of the most conventional, reliable, potential sources of domestic uranium production in the US.
Once again, the Company has invested in land in close proximity to projects that have produced uranium in the past. In this case, the district containing Wray Mesa has been producing uranium and vanadium off and on since the early 1900s, with mines coming online during periods of high demand — Like the one we are entering today.
Directly next to the Wray Mesa Project is the La Sal mine, which has been a historically productive mine . In 2012 — the last year of active use — the La Sal mine produced over 500,000 tons of uranium.
Today, the La Sal Project still has over 550,000 lb of proven uranium reserves, along with 21.5 million lb of vanadium.
The actual figure is likely higher, but the area has not been fully explored.
Making this property even more attractive, Basin has entered into a partnership that passes much of the cost of exploration and development onto a third party — defraying risk and increasing potential returns.
However, while Basin has focused on building out domestic supply, the company is ready to develop uranium properties wherever it can find them.
Uranium Prices Have Already Soared 50% Year To Date
With the economic and regulatory stars aligning, now is the time to get in on the ground floor for what we think could be the biggest uranium bull run in history. But if you want to get in on the act, you’ll have to act fast.
From September through November, the market went on a remarkable run which saw spot prices climb to their highest level in almost a decade.
But this is just the pre-game show. The real fireworks are expected to begin later in the year, with clean energy initiatives firmly taking root.
As things stand, the current uranium spot price is around $75 per pound of U308, representing more than a 50% gain over the $48 it cost at the beginning of the year.
All of which has motivated investors and hedge funds to rush into uranium stocks, accelerating prices even higher. Over just the last year:
- Denison Mines (NYSE:DNN) soared 118%
- Western Uranium & Vanadium Corp. (CSE: WUC | OTCQX: WSTRF) shot up 112%.
- Energy Fuels (NYSE:UUUU) skyrocketed 109%
- Cameco (NYSE:CCJ) climbed 77%
To many, uranium’s resurgence has been sudden. For the past decade, uranium stocks have been in the doldrums.
But things look very different today. First, safety standards have changed dramatically in recent years. Technology has evolved and safety standards have been overhauled. Today’s nuclear power is safe, reliable, consistent, and clean.13
This brings us to the second point: The drive towards net zero requires nuclear power.
Renewable energies such as wind, solar and hydro can all play a part, but these are “swing” power sources, meaning they are dependent on weather conditions, and are far from capable of providing the capacity or consistency of power the world needs in their current state.
Uranium on the other hand is a “base load” power source. The unavoidable truth is, if the world is to transition beyond fossil fuels, it needs nuclear.
For the First Time in History, Political Agendas Align
Congress passed the Nuclear Energy Innovation and Modernization Act (NEIMA) in 2018 which encourages public/private partnerships to accelerate innovation in nuclear energy.
And the current administration has enthusiastically supported nuclear as a means of achieving both climate and energy plans.
Even Republicans are pitching nuclear energy as a way forward for cleaner energy.14 Texas Governor Gregg Abbott has called on regulators to build more nuclear energy plants, upgrade existing plants, and penalize renewables.15
Figures from across the political spectrum, like Bill Gates and Elon Musk have voiced their support.
For Elon Musk, the movement to rid the world of nuclear is misguided. “We should add more nuclear energy, or at least not shut down the nuclear power plants that we already have,” he said.16
Bill Gates, meanwhile, is betting on nuclear power big time. His company, TerraPower, was selected to be part of the government’s Advanced Reactor Demonstration Program (ARDP), and aims to build a fully functional nuclear power reactor within seven years.17
While nuclear power currently only accounts for 20 percent of total US electricity generation, the $1 Trillion infrastructure bill earmarked $73 billion for the expansion of nuclear power.18
New plants are being planned and uranium exploration activities are ramping up to record levels.19
Sprott’s 62.3 Million lb. Uranium Purchase Adds Fuel To The Fire
Even the big-time mining magnates are taking notice of the money pouring into this sector.
The arrival of the Canadian-listed Sprott Physical Uranium Trust is one of the biggest game-changers.
Having raised almost $4.7 billion dollars so far with the potential for significantly more through a US$3.5 billion at-the-market offering, they set out on a buying spree of epic proportions, snapping up 62.3 million lbs. of uranium.20
So What Does It All Mean?
Basin Uranium Corporation (CNSX: NCLR, OTC: BURCF FRA: 6NP0) is in a sweet spot for investors.
It has a ready market with the US and other countries looking to ramp up uranium production, and it benefits from a highly experienced team with a track record of building successful companies.
At the same time, with exploration still in its beginning stages, Basin Uranium has yet to attract the same level of speculation we’ve seen with other stocks in the same market. But as has happened many times before, once junior mining companies prove out resources, things tend to move very quickly.
You can find out more about Basin Uranium via their website. Once you’ve completed your due diligence, call your broker and put Basin Uranium Corporation (CNSX: NCLR, OTC: BURCF) at the top of your watchlist.
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1.https://www.statista.com/statistics/264796/uranium-consumption-leading-countries/#:~:text=Uranium%20consumption%20is%20the%20highest,tons%20produced%20in%202022%2C%20respectively.
2.https://world-nuclear.org/information-library/nuclear-fuel-cycle/mining-of-uranium/world-uranium-mining-production.aspx
3.Macron says France will construct new reactors: Nuclear Policies – World Nuclear News (world-nuclear-news.org)
4.https://tradingeconomics.com/commodity/uranium
5.https://www.jstor.org/stable/43965115
6.https://www.forbes.com/sites/erictegler/2022/02/23/as-russian-forces-roll-into-eastern-ukraine-putin-grabs-yet-another-prizeores-and-energy/
7.https://cnpp.iaea.org/countryprofiles/Russia/Russia.htm
8.https://world-nuclear.org/information-library/nuclear-fuel-cycle/mining-of-uranium/world-uranium-mining-production.aspx
9.https://world-nuclear.org/information-library/country-profiles/countries-o-s/russia-nuclear-fuel-cycle.aspx
10.https://world-nuclear.org/information-library/country-profiles/countries-o-s/russia-nuclear-fuel-cycle.aspx
11.https://world-nuclear.org/information-library/country-profiles/countries-o-s/russia-nuclear-fuel-cycle.aspx
12.https://www.zippia.com/union-carbide-careers-42799/history/
13.Home • Net Zero Needs Nuclear
14.House Republicans pitch nuclear, natural gas as ‘cleaner’ energy future | TheHill
15.Gov. Greg Abbott tells electricity regulators to encourage building more power plants, penalize renewable energy (kristv.com)
16.Elon Musk interview with Italian TechWeek
17.https://www.cnbc.com/2021/04/08/bill-gates-terrapower-is-building-next-generation-nuclear-power.html
18.Infrastructure bill: $1tn for clean energy, internet, trains and more – BBC News
19.US FY2022 budget request includes record for nuclear energy: Nuclear Policies – World Nuclear News (world-nuclear-news.org)
20.Sprott’s Physical Uranium Trust to Change the Uranium Game | Crux Investor Articles
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This article is a paid advertisement. Think Ink Marketing and its owners, managers, employees, and assigns (collectively “the Publisher”) is often paid by profiled companies or third parties to organize marketing campaigns, which include the creation and dissemination of these types of communications. In this case, in an effort to enhance public awareness of Basin Uranium Corporation (“NCLR”) and its securities, NCLR has provided the Publisher with a budget of approximately $125,000.00 USD to cover the costs associated with the creation and distribution of this communication. The Publisher may retain any excess sums after expenses as its compensation. This compensation should be viewed as a major conflict with our ability to be unbiased. Readers should beware that third parties, profiled companies, and/or their affiliates may liquidate shares of the profiled companies at any time, including at or near the time you receive this communication, which has the potential to hurt share prices. Frequently companies profiled in our articles experience a large increase in volume and share price during the course of investor awareness marketing, which often ends as soon as the investor awareness marketing ceases. The investor awareness marketing may be as brief as one day, after which a large decrease in volume and share price may likely occur. This communication is not, and should not be construed to be, an offer to sell or a solicitation of an offer to buy any security. Neither this communication nor the Publisher purport to provide a complete analysis of any company or its financial position. The Publisher is not, and does not purport to be, a broker-dealer or registered investment adviser. This communication is not, and should not be construed to be, personalized investment advice directed to or appropriate for any particular investor. Any investment should be made only after consulting a professional investment advisor and only after reviewing the financial statements and other pertinent corporate information about the company. Further, readers are advised to read and carefully consider the Risk Factors identified and discussed in the advertised company’s SEC, SEDAR and/or other government filings. Investing in securities, particularly microcap securities, is speculative and carries a high degree of risk. Past performance does not guarantee future results. This communication is based on information generally available to the public and on interviews with company management, and does not (to the Publisher’s knowledge, as confirmed by NCLR) contain any material, non-public information. The information on which it is based is believed to be reliable. Nevertheless, the Publisher cannot guarantee the accuracy or completeness of the information.
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The Website Host has been paid approximately $500 per week while the advertisement campaign is active by Think Ink Marketing as compensation to host the article profiling Basin Uranium Corporation (“NCLR”).
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This website is owned and hosted by Market Tactic Media Ltd. Articles appearing on this website should be considered paid advertisements. Market Tactic Media Ltd. and its owners, managers, employees, and assigns (collectively “the Website Host”) is often paid by marketing companies to host websites on which articles profiling public companies are published. The Website Host has not been compensated by any of the profiled companies. The Website Host’s compensation for articles appearing on this website is as follows:
The Website Host has been paid approximately $500 per week while the advertisement campaign is active by Think Ink Marketing as compensation to host the article profiling Basin Uranium Corp. (“The Company”).
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The articles on this website are not, and should not be construed to be, offers to sell or solicitations of an offer to buy any security. Neither the articles on this website nor the Website Host purport to provide a complete analysis of The Company or its financial position. The Website Host is not, and does not purport to be, a broker-dealer or registered investment adviser. The articles on this website are not, and should not be construed to be, personalized investment advice directed to or appropriate for any particular investor. Any investment should be made only after consulting a professional investment advisor and only after reviewing the financial statements and other pertinent corporate information about The Company Further, readers are advised to read and carefully consider the Risk Factors identified and discussed in The Company’s SEC, SEDAR and/or other government filings. Investing in securities, particularly microcap securities, is speculative and carries a high degree of risk.
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INTELLECTUAL PROPERTY
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FORWARD LOOKING INFORMATION
This document contains forward-looking information and forward-looking statements, within the meaning of applicable Canadian securities legislation, (collectively, “forward-looking statements”), which reflect expectations regarding The Company’s future growth, future business plans and opportunities, expected activities, and other statements about future events, results or performance. Wherever possible, words such as “predicts”, “projects”, “targets”, “plans”, “expects”, “does not expect”, “budget”, “scheduled”, “estimates”, “forecasts”, “anticipate” or “does not anticipate”, “believe”, “intend” and similar expressions or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved, or the negative or grammatical variation thereof or other variations thereof, or comparable terminology have been used to identify forward-looking statements. These forward-looking statements include, among other things, statements relating to: (a) revenue generating potential with respect to The Company’s industry; (b) market opportunity; (c) The Company’s business plans and strategies; (d) services that The Company intends to offer; (e) The Company’s milestone projections and targets; (f) The Company’s expectations regarding receipt of approval for regulatory applications; (g) The Company’s intentions to expand into other jurisdictions including the timeline expectations relating to those expansion plans; and (h) The Company’s expectations regarding its ability to deliver shareholder value. Forward-looking statements are not a guarantee of future performance and are based upon a number of estimates and assumptions of management in light of management’s experience and perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances, as of the date of this document including, without limitation, assumptions about: (a) the ability to raise any necessary additional capital on reasonable terms to execute The Company’s business plan; (b) that general business and economic conditions will not change in a material adverse manner; (c) The Company’s ability to procure equipment and operating supplies in sufficient quantities and on a timely basis; (d) The Company’s ability to enter into contractual arrangements; (e) the accuracy of budgeted costs and expenditures; (f) The Company’s ability to attract and retain skilled personnel; (g) political and regulatory stability; (h) the receipt of governmental, regulatory and third-party approvals, licenses and permits on favorable terms; (i) changes in applicable legislation; (j) stability in financial and capital markets; and (k) expectations regarding the level of disruption as a result of COVID-19. Such forward-looking information involves a variety of known and unknown risks, uncertainties and other factors which may cause the actual plans, intentions, activities, results, performance or achievements of The Company to be materially different from any future plans, intentions, activities, results, performance or achievements expressed or implied by such forward-looking statements. Such risks include, without limitation: (a) The Company’s operations could be adversely affected by possible future government legislation, policies and controls or by changes in applicable laws and regulations; (b) public health crises such as the COVID-19 pandemic may adversely impact The Company’s business; (c) the volatility of global capital markets; (d) political instability and changes to the regulations governing The Company’s business operations (e) The Company may be unable to implement its growth strategy; and (f) increased competition. Except as required by law, the Website Host undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future event or otherwise.
HISTORICAL INFORMATION
Any graphs, tables or other information demonstrating the historical performance or current or historical attributes of The Company or any other entity contained in this document are intended only to illustrate historical performance or current or historical attributes of The Company or such entities and are not necessarily indicative of future performance of The Company or such entities.
