NEW YORK, March 28, 2017 /PRNewswire/ --
According to a research report released by Grand View Research, global nuclear energy demand exceeded 2,400 TWh in 2014 and it is estimated to grow at a CAGR of over 4% from 2015 to 2022. Rapid population growth, along with improved lifestyle has resulted in a strong energy demand from households, in both advanced nations and emerging markets. Rising demand for a variety of products have driven industrial developments in various countries, which result in increasing energy requirements from the manufacturing sector. As of 2014, nuclear power provides over 11% of the world's electricity, and over 21% of the electricity in Organisation for European Economic Co-operation (OECD) countries. Azincourt Uranium, Inc. (OTC: AZURF) (TSX-V: AAZ), Fission Uranium Corp. (OTC: FCUUF) (TSX-V: FCU), Uranium Energy Corporation (NYSE: UEC), Denison Mines Corporation (NYSE: DNN), Uranium Resources Inc. (NASDAQ: URRE)
The research report indicates that rising clean power demands, as well as depleting fossil fuel reserves are expected to raise energy concerns. These concerns are encouraging energy companies and governments to invest in the nuclear energy market. The European market is expected to witness above average growth on account of stringent regulations regarding reduction in emissions by 34% over the forecast period. This is expected to require a shift in energy mix and high investments in the industry. The World Nuclear Association points out however, that the USA is the world's largest producer of nuclear power, accounting for more than 30% of worldwide nuclear generation of electricity.
Azincourt Uranium, Inc. (OTC: AZURF) (TSX-V: AAZ) is a Canadian based resource company specializing in the strategic acquisition, exploration and development of uranium properties, with offices in in Vancouver, British Columbia and Saskatoon, Saskatchewan. The Company's Patterson Lake North Property lies adjacent and to the north of the Patterson Lake South property, owned by Fission Uranium Corp.
Earlier today Azincourt Uranium announced that it, "has entered into an agreement with Skyharbour Resources Ltd and Clean Commodities Corp. (collectively the "Property Owners") whereby Azincourt may acquire an undivided seventy per cent (70%) interest in the Property Owners East Preston Project located in the highly prospective western Athabasca basin (the "East Preston Project")."
-Azincourt may acquire a 70% interest the Eastern portion of the Preston Project consisting of approximately 25,329 contiguous hectares. -The Preston Project is one of the largest tenure land positions in the Paterson Lake region and currently consists of 121,148 hectares strategically located near NexGen Energy Ltd's high-grade Arrow deposit, Fission Uranium Corp's Triple R deposit and AREVA/Cameco/Purepoint's joint venture (Spitfire). - AREVA recently optioned 49,635 hectares of the Preston Project for up to $7.3 million in exploration expenditures (see Skyharbour News Release dated March 9, 2017). - Over CDN$2 million in exploration expenditures on the East Preston Project over the past three years. - Several high priority drill targets identified within multiple prospective exploration corridors delineated through recent geophysics and ground evaluation.
Paul Reynolds, CEO of Azincourt commented, "We are excited to option the East Preston uranium project. Azincourt now has two properties located in the western part of the Athabasca Basin, one of the most compelling high-grade uranium regions in the world. Given the historical work that was previously completed on this project, as well as it being adjacent to the Preston Project in which AREVA Resources Canada can earn up to 70% through $7.3 million in exploration we feel we have potential to extract significant value for our shareholders."
Fission Uranium Corporation (OTCQX: FCUUF) (TSX-V: FCU) is a Canadian based resource company specializing in the strategic exploration and development of the Patterson Lake South uranium property. The Patterson Lake South project is located in Canada's Athabasca Basin, home to the world's richest uranium mines. The project is host to the Triple R deposit - the most significant high grade shallow depth deposit in the region. Fission has recently discovered new high-grade zones and outlined the largest mineralized trend in the region. The project has a 50m starting depth of high-grade deposits, meaning compared to other projects with deeper mineralization, more holes can be drilled with a given meterage and will have a potentially lower production cost.
Uranium Energy Corporation (NYSE: UEC) is a U.S.-based uranium mining and exploration company. The Company's fully-licensed Hobson processing facility is central to all of its projects in South Texas, including the Palangana in-situ recovery mine, the permitted Goliad ISR project and the development-stage Burke Hollow ISR project. The Hobson Processing Facility has a physical capacity to process uranium-loaded resins up to a total of two million pounds of U3O8 annually and is licensed to process up to a total of one million pounds of U3O8 annually. Additionally, the Company controls a pipeline of advanced-stage projects in Arizona, Colorado and Paraguay. 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.
Denison Mines Corporation (NYSE: DNN) is a uranium exploration and development company. The Company is engaged in the acquisition, exploration and development of uranium properties, extraction, processing and selling of uranium. The Company operates in three segments: the Mining segment, the Environmental Services segment, and the corporate and other segment. The Mining segment includes activities related to exploration, evaluation and development, mining, milling and the sale of mineral concentrates. The Environmental Services segment includes the operations of the Company's environmental services business, Denison Environmental Services. The Corporate and Other segment includes its provision of general administrative and management services to Uranium Participation Corporation. The Company holds interests in exploration and evaluation projects located in Canada, Mali, Namibia and Zambia. DES provides post-closure mine and maintenance services to various industry and government clients.
Uranium Resources Inc. (NASDAQ: URRE) is engaged in developing energy-related metals. The Company had developed land position in two prospective lithium brine basins in Nevada and Utah in preparation for exploration and development of any resources that may be discovered there. In addition, it remains focused on advancing the Temrezli in-situ recovery uranium project in Central Turkey when uranium prices permit economic development of this project. As of December 16, 2016, it controlled exploration properties in Turkey under nine exploration and operated licenses covering approximately 32,000 acres with various exploration targets, including the satellite Sefaatli Project, which is 30 miles southwest of the Temrezli Project. Its projects include Temrezli Project, Kingsville Dome Project, Rosita Project, Vasquez Project, Butler Ranch Exploration Project, Sejita Dome Exploration Project, Cebolleta Project and Juan Tafoya Project.
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