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George Glasier: A Real Market Shift In Uranium Is In Play

George was pleasantly surprised by the 2016 upturn in the uranium market. The utilities have moved in and started buying which indicates a real market shift. The momentum should continue as higher prices should encourage continued buying activity. Many larger uranium mining companies need $60 to $70 for their mining projects to begin production.

While running his previous company Energy Fuels, they had a much harder time acquiring inexpensive resource properties as the price of uranium was increasing. It took them ten years. That stock still went up 40 times in the last bull run of 2006.

George tells listeners about Western Uranium, which has been able to gather a number of properties inexpensively in recent years with the downturn. They have a resource base of 100 million lbs, acquired in just a few years. They are working with ablation- a fairly new technology. It’s non-chemical and environmentally friendly process. It significantly reduces the cost of production.

George discusses a mine plant at Western, and how it can be brought back into production easily and inexpensively. Owning this plant is a major advantage since they don’t need a lot of upfront capital costs. Their production price point is around $40. He says that some of the other resource companies are finding it necessary to sell assets just to maintain cash flow. Investors seem to be more selective than in the past- they are looking for real value.

Talking Points From This Week’s Episode:
• The uranium market may be improving, utilities are purchasing
• Most larger companies need $60+ to begin production, Western is well below that
• Ablation mining technology significantly reduces costs
• Investors are more selective than in the past

Mr. George E. Glasier is President, Chief Executive Officer & Director at Western Uranium Corp. He is on the Board of Directors at Western Uranium Corp. Mr. Glasier was previously employed as Chairman, President & Chief Executive Officer by American Strategic Minerals Corp., President, CEO & Director-Investor Relations by Energy Fuels, Inc., Vice President-Sales & Marketing by Energy Fuels Corp., and President by Silver Hawk Ltd.