UEX Corporation is one of Canada’s largest Uranium exploration and development companies with probably the only sustainable wide portfolio in the Uranium space over the next couple of cycles.

UEX Corporation has made significant advancements in the discovery and development of existing and new uranium and cobalt deposits in the Athabasca Basin. The company owns 31 projects and is looking to grow the company with new discoveries on top of their production ready assets. 

Following the JCU acquisition and the involvement in the Wheeler River and the Millenium projects there is now a definite shift in the focus of UEX. Instead of focusing exclusively on growth, they will now have the opportunity to participate in future production within the next 1 or 2 cycles.

UEX plans to focus on their top-tier projects in future to grow the company resources which will allow them to find partners on some of their early-stage projects. This will provide more opportunity to get more of their portfolio working with the injection of cash from other companies. 

UEX is now a producing company and when the uranium price improves, the most likely projects to move forward are at the Wheeler River project at the Gryphon and Phoenix deposits. There are also other projects which might not be ready to go this cycle but will be ready to come onstream in the next cycle. 

Now that UEX is ready to go, they will need to raise some money and plan to raise $25-30M to get them to the end of 2022 comfortably.