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Azarga Uranium Corp. (stock symbol: AZZUF) announced its inclusion in the Solactive Global Uranium & Nuclear Components Total Return Index, effective August 2, 2021. This change reflects a semi-annual rebalance and positions Azarga within the Global X Uranium ETF, which has net assets of approximately US$640 million. CEO Blake Steele highlighted improved investor sentiment towards nuclear energy and significant capital inflows into uranium ETFs in 2021. Azarga continues to advance its Dewey Burdock and Gas Hills uranium projects in the USA.
Azarga Uranium reports strong results from the Preliminary Economic Assessment (PEA) of its Gas Hills In-situ Recovery Uranium Project in Wyoming. The assessment indicates a pre-income tax internal rate of return (IRR) of 116% and a net present value (NPV) of US$120.9 million. Over a projected lifespan of 7 years, the project aims to produce 6.5 million pounds of U3O8, with steady production of 1 million pounds annually. Direct cash operating costs are estimated at US$11.52 per pound, supporting the project's robust economics amidst a structural deficit in uranium markets.
Azarga Uranium Corp. (TSX:AZZ) reported the successful outcomes of all resolutions from its Annual General and Special Meeting held on June 25, 2021. Key points include the election of directors with varying support percentages, the appointment of BDO Canada LLP as auditors, approval of unallocated stock options, and an increase in shares reserved for the employee share purchase plan by 3 million. Additionally, the company plans to issue 1,405,000 shares as part of a bonus payment, primarily to insiders. The firm continues its focus on regulatory approvals for the Dewey Burdock in-situ recovery uranium project.
Azarga Uranium has filed a technical report supporting its NI 43-101 resource estimate for the Gas Hills Uranium Project in Wyoming, revealing a 128% increase in measured and indicated resources to 10.77 million pounds U3O8. The report indicates that 7.71 million pounds U3O8 (72%) are in-situ recovery (ISR) resources with an average grade of 0.101%. The Company has engaged WWC Engineering and Roughstock Mining Services for a preliminary economic assessment, suggesting strong potential for the Gas Hills Project as a significant satellite deposit to the Dewey Burdock Project.
Azarga Uranium Corp. reported a significant increase in uranium resources at its Gas Hills Project in Wyoming, with measured and indicated resources rising to 10.77 million pounds U3O8, a 128% increase from the previous estimate. The project, now boasting 7.71 million pounds U3O8 as ISR resources, shows promising potential with an average U3O8 grade of 0.101%. A preliminary economic assessment will be conducted to explore the project’s viability as a significant satellite deposit to the flagship Dewey Burdock Project. The resource estimate was verified by independent experts.
Azarga Uranium Corp. announced that AK Jensen Investment Management Ltd has increased its ownership in the company to 10.94% of common shares, or 12.58% on a fully diluted basis. CEO Blake Steele expressed confidence in the company's potential, highlighting the Dewey Burdock Project as a key asset with strong project economics. The investment aligns with rising sentiments towards nuclear power, indicating potential gains in the uranium sector.
Azarga Uranium Corp. (TSX:AZZ, OTCQB:AZZUF) announced an amendment to its offering, with Haywood Securities and Eight Capital set to purchase 30 million units at C$0.20 each, raising C$6 million. Each unit includes one common share and a half warrant, allowing Warrant holders to buy a share at C$0.28 within two years. The funds raised will support exploration, repay loans, and general corporate purposes. Closing is expected on December 23, 2020, pending regulatory approvals.
Azarga Uranium Corp. (TSX: AZZ, OTCQB: AZZUF) announced a C$4 million bought deal offering with Haywood Securities and Eight Capital. The deal includes the sale of 20 million units at C$0.20 per unit, each comprising one common share and one half warrant, with a warrant exercise price of C$0.28. The offering is set to close around December 23, 2020, pending regulatory approvals. Proceeds will fund exploration at the Dewey Burdock Project, repay loans, and cover general working capital.
AZARGA URANIUM CORP. has received final EPA permits for its Dewey Burdock uranium project in South Dakota, a significant step towards production. This milestone, endorsed by both the EPA and NRC, enhances project viability amidst a favorable uranium market. The company is poised to advance the state permitting process following the EPA approval, with the South Dakota DENR staff recommending key state permits. The U.S. government’s bipartisan support further bolsters prospects, including a proposed $150 million U.S. uranium reserve funding.
Azarga Uranium Corp (TSX:AZZ, OTCQB:AZZUF) has secured funding of US$1,000,000 to finance the financial assurance bonds required for its Dewey Burdock in-situ recovery uranium project in South Dakota. This funding is a critical step towards obtaining the final EPA permits necessary for construction. CEO Blake Steele emphasized the importance of this milestone in advancing the project amid a structural deficit in the uranium market. The loans have a 12% interest rate and mature on February 5, 2021.
