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Uranium exploration glows bright

25 August 2022 12:43
AdobeStock Nuclear Uranium

The news that Japanese Prime Minister Fumio Kishida had called for a push to reverse the nation’s course and begin rekindling dormant reactors sent waves through the commodities sector today, as uranium miners saw share prices surge on the back of what looks to be an increasingly nuclear energy future.

“As a result of Russia’s invasion of Ukraine, the global energy situation has drastically changed,” Kishida said on Wednesday.

And it goes well beyond Japan — the European Union voted only last month to include nuclear in its taxonomy of sustainable activities, paving the way for investment to grow for the clean-burning energy source while nations contend with soaring power costs and ever-nearing emission targets.

Chartered engineer Tony Irwin has overseen the birth of eight nuclear reactors and says atomic technology is a tremendous untapped resource with a groundswell of demand to be met.

“Everyone is looking for low emissions technology, the only one independent of weather and reliable is nuclear,” he told The Market Bull.

Australia may not be decided on its path on the yellowcake road, but the nation’s explorers can power up from globe-spanning projects to unearth the increasingly valuable resource.

GTI Energy (ASX: GTR) have set up shop across expansive holdings in the US states of Wyoming and Utah, and with 100 thousand feet of uranium drilling planned to be wrapped up by Christmas, have seen its share price rise 13.33 per cent on the day already.

Valor Resources (ASX: VAL) are centered in Canada’s yellowcake-renowned Athabasca basin which holds average grades of 10 to 20 times the global average — and no less than eight Valor projects with high priority targets.

Haranga Resources (ASX: HAR) has its Saraya proiect moving forward in the east African nation of Senegal, recently confirming mineralisation with over 1300 samples underpinning consistent uranium and providing the push to move exploration forward.

Share prices accurate as of 12.39am UTC+8 hours.

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