PUREPOINT URANIUM GROUP INC. MONTHLY ATHABASCA BASIN EXPLORATION UPDATE
JULY 2022
Uranium Market "Very Bullish," Which Stocks Have
Potential?
Source:Investing News Network
The uranium sector has been building steam in recent years, leaving investors eager for returns.
At the Prospectors & Developers Association of Canada (PDAC) convention, Gwen Preston of Resource Maven described the market as "very bullish," saying that diverse factors have contributed to uranium's turnaround.
Those include deliberate output cuts from producers, supply disruptions related to the COVID-19 pandemic and more recently the entrance of the Sprott Physical Uranium Trust (TSX:U.UN).
There's also of course the war between Russia and Ukraine, which has set even more alarm bells ringing over supply given Russia's role in conversion and enrichment.
"(The market) was already undersupplied. Now the critical step for turning the commodity into fuel has had a huge weight put on it, and supply that's connected to a major producer is tainted, if you want to call it that," Preston explained during the conversation. "The setup is really insane."
Uranium's long bear market has left market participants with relatively few companies to choose from, but there are still ways to hone in on best-of-breed stocks. Preston said she expects discoveries to be "spectacularly rewarded," but noted that with explorers it's important to look for companies with good geologists. View full video here. ●
If you missed Red Cloud Summer Uranium Conference 2022, view Purepoint's presentation below:
UxC Consulting Spot Price
(US$)
May 31, 2022 | $47.75/lb U3O8 |
June 30, 2022 | $50.50/lb U3O8 |
Change of +$2.75/lb U3O8
UxC Consulting Long-Term Price
(US$)
May 31, 2022 | $49.50/lb U3O8 |
June 30, 2022 | $50.00/lb U3O8 |
Change of +$0.50/lb U3O8
Key Basin Announcements
06-09-2022: Purepoint Uranium initiates program at 100% owned Russell South Project
06-09-2022: CanAlaska commences West McArthur Uranium drilling
06-13-2022: Uranium Energy Corp announces acquisition of UEX Corporation
06-13-2022: Skyharbour commences airborne gravity geophysical survey at South Falcon Point Uranium Project
06-13-2022: Fission 3.0 and Traction drilling intersects additional anomalous radioactivity at Lazy Edward Bay
06-21-2022: NexGen announces submission of the Rook I Project Environmental Impact Statement
06-27-2022: CanAlaska commences airborne survey at Key Extension Project
06-27-2022: Standard Uranium probides Davidson River update
06-27-2022: Baselode intersects 81 metres and 30 metres of radioactive mineralization near surface
06-28-2022: Purepoint Uranium initiates program at 100% owned Carson Lake Project
06-29-2022: Forum intersects uranium mineralization at the Wollaston Project
06-29-2022: CanAlaska commences airborne survey at Geike Project
Monthly Athabasca Basin Exploration Update
Month over Month Uranium Stock Performance
(as of June 30, 2022)
Producing, Development & Advanced Exploration Companies
UEX
Laramide Resources
Peninsula Energy
Average | -11.72% |
Cameco
Denison Mines
Fission Uranium
Nexgen Energy
-40 .0 0% | -30 .0 0% | -20 .0 0% | -10 .0 0% | 0.00 % | 10 .0 0% | 20 .0 0% | 30 .0 0% | 40 .0 0% |
Athabasca Basin Exploration Companies
IsoEnergy
PUREPOINT URANIUM
ALX Resources
Baselode Energy
Forum Energy
Average-27.1%
Skyharbour Resources
Standard Uranium
CanAlaska Uranium
Fission 3.0
Azincourt Energy
-40 .0 % | -30 .0 % | -20 .0 % | -10 .0 % | 0.0% | 10 .0 % | 20 .0 % | 30 .0 % | 40 .0 % |
July 2022
Monthly Athabasca Basin
Exploration Update
Presented by Purepoint Uranium Group Inc. (TSXV: PTU/OTCQB: PTUUF), the Monthly Athabasca Basin Exploration Update is a monthly newsletter that gathers information on what's happening with uranium exploration companies in the Atha- basca Basin, including its monthly exploration news, stock performances as well as the spot- and long-term uranium prices.
Purepoint Uranium Group Inc.
TSXV: PTU/ OTCQB: PTUUF
Purepoint Uranium Group Inc. is a uranium exploration company focused on precision exploration of its projects in the Athabasca Basin.
Its flagship project is the Hook Lake, a joint venture with two of the largest producers in the world, Cameco Corporation and Orano Canada.
Together with its flagship project, the Company operates 12 projects across approximately 200,000 hectares of claims throughout the Athabasca Basin.
For more information, please visit: www.purepoint.ca.
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Disclaimer information:
All information provided in this newsletter is based upon sources that Purepoint Uranium Group Inc. (Purepoint Uranium) believes to be reliable. Purepoint Uranium does not guarantee their accuracy or completeness. Any and all statements as of the date of this newsletter are subject to change without notice. All information provided on this newsletter must be understood as information presented for discussion only and not investment advice. Purepoint Uranium advises all readers and subscribers to seek advice from a registered professional securities representative before deciding to trade in stocks featured on this newsletter or any stocks for that matter. All statements and expressions of the companies featured are not meant to be a solicitation or recommendation to buy, sell, or hold securities. Purepoint expressly disclaims any obligation to update or revise any such forward-looking statements.
Copyright ©2022 Purepoint Uranium Group Inc. All rights reserved. | Page 2 |
Monthly Athabasca Basin Exploration Update
Purepoint Uranium initiates program at 100% owned Russell South Project
TSXV: PTU
06-09-2022
July 2022 | |||||
Market Cap | Price as of | 52-Week | 52-Week | ||
06/30/22 | High | Low | |||
$23.98MM | $0.065 | $0.17 | $0.065 | ||
Purepoint Uranium Group Inc. (TSXV: PTU) (OTCQB: PTUUF) ("Purepoint" or the "Company") today announced the commencement of an airborne gravity/magnetic survey over their Russell South Uranium Project which lies on the south-central edge of the Athabasca Basin, Saskatchewan Canada.
"The Russell Lake project is within a favourable geologic area since it's close to the southern edge of the Athabasca Basin that has relatively shallow drill targets and nearby uranium deposition including the historic Key Lake Mine (22 km WSW) and the Baselode / 92 Energy discoveries (28 km NE)" said Scott Frostad, VP Exploration at Purepoint. "The regional airborne gravity results suggest our claims cover important geologic contacts and our current gravity survey results will allow us to define specific targets for follow-up ground geophysics and drilling".
Highlights
- Purepoint will be conducting an airborne Gravity Gradiometer, Gravity and Magnetic Survey across the entire project.
- The survey will cover 974 kilometres of flight at 100 metre spacings.
- Results and interpretations should be complete by the end of June.
Figure 1: Russell South Location
Russell South Project
The 100% owned Russell Lake Project is located near the south-central edge of the Athabasca Basin covering an area of 13,320 hectares. The project adjoins the Moore Lake Project, owned by Skyharbour Resources Ltd., with their high-grade Maverick Zone that returned 6.0% U3O8 over 5.9 metres from hole ML-199 (Skyharbour PR, Feb. 27, 2017). Also located near the southern edge of the Athabasca Basin is the Key Lake Mine, 22 km WSW, that produced over 200 million pounds of uranium at a grade averaging 2.3% U3O8 between 1983 and 1997.
Copyright ©2022 Purepoint Uranium Group Inc. All rights reserved. | Page 3 |
Monthly Athabasca Basin Exploration UpdateJuly 2022
Purepoint Uranium Initiates Program at 100% | ||||
Market Cap | Price as of | 52-Week | 52-Week | |
Owned Carson Lake Project | 06/30/22 | High | Low | |
TSXV: PTU | ||||
$23.98MM | $0.065 | $0.17 | $0.065 | |
06-28-2022 | ||||
Toronto, Ontario, June 28, 2022 - Purepoint Uranium Group Inc. (TSXV: PTU) (OTCQB: PTUUF) ("Purepoint" or the "Company") today announced the commencement of an airborne gravity/magnetic survey over their 100% owned Carson Lake Uranium Project which lies on the north-eastern edge of the Athabasca Basin, Saskatchewan Canada.
The Carson Lake project covers the northeast extension of a major conductive trend that is also present on Purepoint's Red Willow project. The current airborne gravity survey results will help further define north-south trending structures and geologic contacts interpreted from prior magnetic survey results. Interpreted structures that crosscut the conductive trend are considered prospective exploration target areas as structural complexity may have developed and trapped uranium-rich fluids.
Highlights
- Purepoint will be conducting an airborne Gravity Gradiometer, Gravity and Magnetic Survey across the project.
- The survey will cover 390 kilometres of flight at 100 metre spacings.
- Results and interpretations should be complete by early July.
Figure 1: Carson Lake Map
Carson Lake Project
The 100% owned Carson Lake Project is located near the north-eastern edge of the Athabasca Basin and covers an area of 4,972 hectares. Exploration is focused on basement-hosted uranium mineralization targets similar to the Eagle Point deposit situated 50 kilometers south-southwest of Carson Lake.
About Purepoint
Purepoint Uranium Group Inc. (TSXV: PTU) (OTCQB: PTUUF) actively operates an exploration pipeline of
12 advanced projects in Canada's Athabasca Basin. In addition to its flagship joint venture project at Hook Lake with partners Cameco and Orano and a second joint venture with Cameco at Smart Lake, Purepoint also holds ten, 100% owned projects with proven uranium exploration targets. With an aggressive exploration program underway on multiple projects, Purepoint is emerging as the preeminent uranium explorer in the world's richest uranium district.
Scott Frostad BSc, MASc, PGeo, Purepoint's Vice Presi- dent, Exploration, is the Qualified Person responsible for technical content of this release.
Copyright ©2022 Purepoint Uranium Group Inc. All rights reserved. | Page 4 |
Monthly Athabasca Basin Exploration UpdateJuly 2022
CanAlaska commences West McArthur | ||||
Market Cap | Price as of | 52-Week | 52-Week | |
Uranium drilling | 06/30/22 | High | Low | |
TSXV: CVV | ||||
29.87MM | $0.275 | $0.84 | $0.265 | |
06-09-2022 | ||||
CanAlaska announced its mobilization of drill crews and equipment as part of the approved $5 million 2022 program on the West McArthur uranium project in the eastern Athabasca Basin. The project is operated by CanAlaska. CanAlaska holds a 76.51% ownership in the project and will fully fund the exploration in 2022 to increase its interest in the Joint Venture.
Uranium Energy Corp Announces | ||||
Market Cap | Price as of | 52-Week | 52-Week | |
Acquisition of UEX Corporation | (UEC) | 06/30/22 | High | Low |
NYSE: UEC & TSX: UEX | ||||
$910.39MM | $3.08 | $6.60 | $1.89 | |
06-13-2022 | ||||
Market Cap | Price as of | 52-Week | 52-Week | |
(UEX) | 06/30/22 | High | Low | |
189.23MM | $0.33 | $0.60 | $0.23 | |
UEC and UEX announced they have entered into a definitive arrangement agreement, pursuant to which UEC will acquire all of the issued and outstanding common shares of UEX by way of statutory plan of arrangement under the Canada Business Corporations Act.
Under the terms of the Agreement, each holder of the common shares of UEX (each, a "UEX Share") will receive 0.0831 of one UEC share (each, a "UEC Share") in exchange for each UEX Share. This share exchange ratio implies consideration of approximately C$0.43 per UEX Share and a premium of approximately 50% based on the closing price of UEX's shares on the Toronto Stock Exchange (the "TSX") on June 10, 2022.
At closing, existing UEC and UEX shareholders will own approximately 86.3% and 13.7%, respectively, of UEC based on current outstanding common shares.
Acquisition Rationale and Highlights:
- Accretive transaction, doubling of UEC's uranium resources in world-class, politically stable, uranium mining jurisdictions at only a 13.7% dilution to UEC's outstanding shares
- Pro forma UEC will have the largest uranium portfolio focused exclusively in the Americas, located in proven and stable jurisdictions, and combining diversified U.S. production and Canadian development assets
- Recent global events have set in motion long-term structural changes in the supply chains of energy commodities where security of supply and reduction of geopolitical and transportation risk will be key strategic differentiators
- On the demand side, there is a growing trend by Western utilities to secure supplies from uranium projects in politically stable jurisdic- tions
- UEX portfolio is comprised of 29 uranium projects covering key areas of the producing eastern side and development western side of prolific Athabasca basin
- 5 of the 29 projects are advanced resource stage and already in strong joint-venture partnerships with established uranium miners which allows UEC to remain operationally focused in the U.S. while benefiting from a new development pipeline with significant explo- ration potential in Canada
- UEX complements UEC's near-termproduction-ready and brownfield assets in the U.S. with medium and long-term production poten- tial in Canada
- UEC maintains its strong balance sheet with over $180 (2) million of cash and liquid assets, with no debt, supporting production readi- ness and its ability to advance a strengthened project portfolio
Copyright ©2022 Purepoint Uranium Group Inc. All rights reserved. | Page 5 |
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Purepoint Uranium Group Inc. published this content on 03 July 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 04 July 2022 00:52:01 UTC.
