- Atomic Minerals (TSXV:ATOM) provided its outlook on uranium’s substantial price increase observed in the uranium market in recent months
- The spot price of U3O8 (uranium) has increased 227.6 per cent since March 2020, rising from US$21.51 to US$73.00 in October 2023
- The team believes that the recent increase in uranium’s spot price reflects not only the present demand for uranium, but future demand is being addressed in the 450 nuclear power facilities that are either in the planning, permitting or construction phase globally
- Atomic Minerals Corp. last traded at $0.09 per share
Atomic Minerals (TSXV:ATOM) provided its outlook on uranium’s substantial price increase observed in the uranium market in recent months.
The spot price of U3O8 (uranium) has increased 227.6 per cent since March 2020, rising from US$21.51 to US$73.00 in October 2023.
The company’s leadership stated that it recognizes the positive implications of this upward trend, which reflects the escalating global demand for clean and sustainable energy sources.
“We are witnessing a significant strengthening of the uranium spot price, which signifies the increasing acknowledgment that nuclear power is the only solution to the looming worldwide power shortages,” Clive Massey, Atomic Minerals CEO and president stated in a news release. “At Atomic, we are strategically positioned to play a significant role in the global transition towards clean energy.”
The team believes that the recent increase in uranium’s spot price reflects not only the present demand for uranium, but future demand is being addressed in the 450 nuclear power facilities that are either in the planning, permitting or construction phase globally.
As the international community intensifies efforts to transition towards a low-carbon future, nuclear energy plays a crucial role in meeting the world’s growing energy needs while curbing greenhouse gas emissions. This renewed focus on nuclear power has stimulated a strong demand for uranium.
Russia’s invasion of Ukraine has already seen sanctions imposed on its uranium that is expected to further constrain the already limited supply of uranium.
The company is advancing its Harts Point Uranium Project in San Juan County, southeast Utah, while both its 10 Mile and Dolores uranium projects are set to be permitted in early 2024.
Atomic Minerals Corp. is a uranium exploration company that seeks to identify exploration opportunities in regions that have been previously overlooked but are geologically similar to those with previous uranium discoveries.
Atomic Minerals Corp. last traded at $0.09 per share.
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