A Canadian explorer is advancing Guyana's only uranium project toward its first drilling, opening a new mineral frontier in a country known for oil.
Mining · Energy
—The move. A Toronto-listed explorer, U92 Energy, is advancing Guyana’s only uranium project toward its first drilling.
—The deal. It is buying the project’s decade-deep exploration dataset for 500,000 Canadian dollars, paid entirely in shares.
—The prize. The Kurupung site holds a historical estimate of 20.6 million pounds of uranium across four deposits.
—The timing. Long-term uranium prices are at their highest since 2008, lifted by a global revival of nuclear power.
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