Canada is home to some of the world's most prolific regions for uranium. And now, a publicly traded company has the largest uranium exploration portfolio in the entire country.
What’s happening:
- ATHA Energy (CSE: SASK) has announced their plans to acquire Latitude Uranium (CSE: LUR) and 92 Energy (ASX: 92E) to form the largest uranium exploration portfolio in Canada
- The new acquisitions will add to ATHA Energy’s flagship land package in the Athabasca Basin
Why it matters:
- With the global push for nuclear energy well underway there is a critical need for new uranium discoveries and new sources of supply
Going deeper:
- Both the properties from 92 Energy and Latitude Uranium have historical evidence of containing significant uranium deposits
- Latitude Uranium’s properties are located in Nunavut, Canada and Newfoundland and Labrador, Canada
- 92 Energy’s properties are located in the Athabasca Basin in Saskatchewan, Canada
By the numbers:
- The new combined entity would own 7.1M acres of exploration acreage across three of the most prominent regions in Canada for uranium
- The Athabasca Basin is responsible for supplying about 20% of the uranium in the world
- ATHA Energy has also announced a concurrent $22.8M CAD financing round alongside of these acquisitions
