UEX Corporation (UEX) - How to Monetise a Large Uranium Portfolio?
Matthew Gordon, Ptolemy Capital
4 Months ago
Uranium is still hovering around $31/lb, with uranium explorers like UEX Corporation attempting to manoeuvre smartly into a prime position ahead of the imminent next uranium cycle. So, what is the latest news around this uranium mining player with a large portfolio of uranium assets in the renowned Athabasca Basin?
UEX Corporation had announced a measly $700,000 private placement at the start of May, which eventually closed as a $2M oversubscribed private towards the end of May. Such a small quantity of capital was raised as part of a hard-dollar financing strategy. It was intended to be used as a small working capital boost to enable UEX Corporation to do some more work at the Christie Lake uranium project. On August 4th, UEX Corporation commenced drilling at Ōrora North within the wider Christe Lake project. The first phase of this summer drilling program will consist of three holes, resulting in 1,800m of drilling. A possible second phase will hinge on the results of the first, with anomalies being hunted enthusiastically with the potential for high-grade, low-cost uranium on the horizon.
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