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Why Uranium Market Prices are Poised for Big Breakout Over Previous Highs

Palm Beach, FL – February 8, 2023 – News Commentary – Those who follow the uranium market prices see higher highs in the coming year. Uranium prices, alongside many other commodities, are starting the new year strong. The big question is whether momentum can continue. When we talk about metals, there are other things such as inflation, the Federal Reserve, recession fears etc that we need to worry about. Uranium on the other hand, actually has many strong fundamental reasons for heading higher   A recent article on the Equity.Guru website reported: “Sprott Asset Management CEO John Ciampaglia stated in November 2022 that nearly 180 million pounds of uranium per year is required to fuel the current global fleet of reactors. The current primary output is over 130 million pounds and is expected to rise to between 140 million and 145 million pounds by next year.  Uranium rose 41% in 2021. 2022 was a bit muted with uranium starting 2022 off strong, but ending the year up just below 10% higher from its January 1st 2022 start… Early 2022 saw supply challenges when it came to the conversion and enrichment. Many uranium bulls are betting on net supply/demand factors to be the KEY trigger for higher uranium prices in 2023.”  Active mining companies in the markets this week include Traction Uranium Corp. (OTCQB: TRCTF) (CSE: TRAC), Ur-Energy Inc. (NYSE American: URG) (TSX: URE), Cameco (NYSE: CCJ) (TSX: CCO), Blue Sky Uranium Corp. (OTCQB: BKUCF) (TSX-V: BSK), F3 Uranium Corp (OTCQB: FUUF) (TSXV: FUU).


The article continued: “Recently, Sashi Davies, an internationally acclaimed nuclear power/uranium expert who has been involved with the uranium market and uranium sales for more than 35 years, stated that she believes believes the uranium market is poised for a big breakout which will see uranium prices take out previous highs. Supply and demand were her key reasons.  She compares the current set up to that of the early 2000s.  “Today I think we are where we were at the beginning of the big move like back in the early 2000s (spot uranium prices peaked at $US140/lb in 2007). It has the same feel to it,” Davies said.  “Looking at demand, the uncertainty now is how much more demand are we going to have in the near term, as well as how far out it will go. On the supply side, it is a case of whether we are actually going to be able to bring production on quickly enough to meet that gap. And if you look at inventory, I have never seen so much inventory sucked out of the market as I have seen in the last 3-5 years. Over the next 12 months, it is a market where there are several catalysts, and if just one of those changes, I think the price could go above its last high.”


Traction Uranium Corp. (OTCQB: TRCTF) (CSE: TRAC) BREAKING NEWS:  Traction Uranium and Forum Energy Metals Enter into an Option Agreement for the Grease River Property in the Athabasca Basin – 10,528 Hectares situated along the east-northeast trending Grease River Structure south of Lake Athabasca near the Fond Du Lac Uranium DepositTraction Uranium Corp. (the “Company” or “Traction”) is pleased to announce that it has entered into a property option agreement (the “Option Agreement”) with Forum Energy Metals Corp. (the “Vendor”) dated February 3, 2023 (the “Effective Date”), pursuant to which the Company has the right, at its option, to acquire up to a 100% interest in the Grease River Property located in Athabasca Basin, Northern Saskatchewan, Canada (the “Property”), in exchange for a series of cash payments, share issuances and funding of exploration expenditures, separated into three phases. The first phase entitles the Company to acquire a 51% interest in the Property by paying an aggregate of $250,000, issuing an aggregate of 1,625,000 common shares and funding an aggregate of $3,000,000 in exploration expenditures on the Property by December 31, 2025. Forum will be the operator of the Property until the Company completes the first phase.


Lester Esteban, Chief Executive Officer of Traction stated, “Our research team has been hard at work to complete the Hearty Bay “Quartz Degradation” research program (see Traction news release dated January 31st, 2023) and we are looking forward to providing the results once our team has finalized their report. With our Hearty Bay Project nearby, the Grease River Project is an exciting addition where we are looking to acquire 100% of the property and our interest in unlocking the uranium discovery potential in the Fond du Lac area. We look forward to bringing together our technical advisor Boen Tan Ph.D., P. Geo with Forum’s Dr. Rebecca Hunter Ph.D., P.Geo. and Ken Wheatley P. Geo., M.Sc. on this project, an esteemed team with a combined 100+ years of uranium exploration experience and numerous discoveries under their belt.”


Richard Mazur, President & CEO of Forum Energy Metals stated, “We are pleased to work with the Traction team to unlock the potential to host new, large uranium deposits along this underexplored, favourable structural corridor.”


The Grease River Property – The Grease River Project is located within the north-central margin of the Athabasca Basin near the community of Fond du Lac. The project consists of two separate claim blocks situated along the NE-trending Grease River Shear zone, a major intracontinental shear zone greater than 400 km long. The nearby Fond du Lac uranium deposit was previously discovered within the shear zone by Amok and Eldorado in the 1970s with an estimated non-compliant historical resource of one million pounds uranium at an average grade of 0.25% U3O8*. The Grease River Project claims are located along trend of the deposit to the southwest and northeast. Limited exploration has been conducted in the property area and there is potential for additional uranium mineralization along the shear zone. Airborne geophysical surveys are planned in 2023 to aid in structural mapping and to define prospective drill targets.  CONTINUED Read this full press release and more news for Traction Uranium at:    


Other recent developments in the mining industry of note include:


Ur-Energy Inc. (NYSE American:URG) (TSX:URE) recently announced that it has expanded the quantity to be delivered into the sales agreement announced by the Company on August 8, 2022. The agreement which called for the annual delivery of 200,000 pounds of U3O8 over a six-year period, has been amended to increase the annual delivery by 100,000 pounds of U3O8 beginning in 2024 at the same pricing levels.


The Company’s total sales quantity now under contract will be 600,000 pounds U3O8 per year beginning in 2024, plus or minus a small, optional flex. Having secured these sales commitments, Ur-Energy has made the decision to immediately ramp up production at its operating Lost Creek uranium mine to levels sufficient to deliver into these current contracts.


Cameco (NYSE: CCJ) (TSX: CCO) recently announced that the first pounds of uranium ore from the McArthur River mine have now been milled and packaged at the Key Lake mill, marking the achievement of initial production as these facilities transition back into normal operations.


“McArthur River and Key Lake are among the best and most prolific uranium assets on the planet, and after building homes for these pounds in our long-term contract portfolio, we are delighted to have them back in production,” said Cameco president and CEO Tim Gitzel. “Market conditions have continued to strengthen since we announced their planned restart, with growing geopolitical uncertainty adding to energy security concerns worldwide, and the ongoing global emphasis on decarbonization and electrification only gaining momentum.”


Blue Sky Uranium Corp. (OTCQB: BKUCF) (TSX-V: BSK) recently announced that it has been invited to present at the Emerging Growth Conference on February 8, 2023.


The next Emerging Growth Conference is presenting on February 8, 2023. This live, interactive online event will give existing shareholders and the investment community the opportunity to interact with the Company’s CEO, Nikolaos Cacos, in real time.


Mr. Cacos will perform a presentation and may subsequently open the floor for questions. Please submit your questions in advance to or ask your questions during the event and Mr. Cacos will do his best to get through as many of them as possible.

Blue Sky Uranium Corp. will be presenting at 1:10 PM Eastern time.


F3 Uranium Corp (OTCQB: FUUF) (TSXV: FUU) recently announced it has received final uranium assay results for the remaining fall 2022 drill holes at the JR Zone on the Patterson Lake North (“PLN”) Property where off-scale radioactivity was previously confirmed as high grade uranium mineralization (see Press Release Dec 22, 2022).


Drill hole PLN22-038 targeted up dip from hole PLS22-035 and returned an 11.0 m interval averaging 4.20% U3O8 including a high-grade 4.5 m interval averaging 9.8% U3O8, which further includes the ultra-high-grade core which assayed 22.9% over 1.5 m. PLN22-038 was the second of three mineralized holes completed on line 00N, in addition to a fourth mineralized hole on line 015S.


DISCLAIMER:  FN Media Group LLC (FNM), which owns and operates and, is a third party publisher and news dissemination service provider, which disseminates electronic information through multiple online media channels.  FNM is NOT affiliated in any manner with any company mentioned herein.  FNM and its affiliated companies are a news dissemination solutions provider and are NOT a registered broker/dealer/analyst/adviser, holds no investment licenses and may NOT sell, offer to sell or offer to buy any security.  FNM’s market updates, news alerts and corporate profiles are NOT a solicitation or recommendation to buy, sell or hold securities.  The material in this release is intended to be strictly informational and is NEVER to be construed or interpreted as research material.  All readers are strongly urged to perform research and due diligence on their own and consult a licensed financial professional before considering any level of investing in stocks.  All material included herein is republished content and details which were previously disseminated by the companies mentioned in this release.  FNM is not liable for any investment decisions by its readers or subscribers.  Investors are cautioned that they may lose all or a portion of their investment when investing in stocks.  For current services performed FNM expects to be compensated seventy five hundred dollars for news coverage of the current press releases issued by Traction Uranium Corp. by a non-affiliated third party.




This release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. “Forward-looking statements” describe future expectations, plans, results, or strategies and are generally preceded by words such as “may”, “future”, “plan” or “planned”, “will” or “should”, “expected,” “anticipates”, “draft”, “eventually” or “projected”. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company’s annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and FNM undertakes no obligation to update such statements.


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