Welcome to the Market Herald’s Capital Compass.

Our next guest is spearheading a team with a proven track record of uranium discoveries in the Athabasca Basin. Joining us today is John Bey, CEO of Standard Uranium Ltd. (TSXV:STND), who is here to talk about the company and everything that we have to discuss today.

TMH: We have a lot to talk about. So, I guess let’s start off with you speaking to the past few news releases, one of which is regarding expansion of land holdings and the project generator business model.

Bey: Sure. So going back into June, we’ve had three releases since then. The first one was we switched to a project generator business model. Prior to that, we were working all our projects on our own. So raising money, staking ground, doing the drill programs. And after doing this for five years, it’s become quite dilutive to our shareholders.

Finding uranium is not easy. It takes multiple years of exploration work. So, we decided we’ve got more projects now than we can manage to drill on our own. So we’re bringing in partners, we’re bringing in people who can fund the exploration work, keep our (geologists) working and give our shareholders upside to that.

TMH: So back to the project generator business model. Why was that necessary or why now?

Bey: Yeah, I think now is a great time. The uranium market is really heating up. We’ve now got seven projects and we believe we can move them all forward. So we’re getting interest from companies from around the globe who are seeing Canada and the Athabasca Basin as the best place in the world to search for uranium.

We’ve got a team of … five geologists who are proven. They’ve done their work, they know the region well, and we’ve got relationships with all the vendors. the First Nations agreements, our permits (are) in place. So for them to see us as an opportunity to come in, get to work, spend money, and see results right away, that’s what makes the project generator model exciting for them and for us.

TMH: Well, as you mentioned, I know there are several projects right now that are drill ready. Are there any updates around this work that you can maybe give us today?

Bey: I can tell you a few things without getting into too many details. So we have seven projects now, a couple of them that are very early stage, our Corvo and our Rocas. So those ones are going to take some early exploration programs, maybe some geophysics.

Whereas when we get to our bigger projects, our Sun Dog and our Davidson River, those ones are ready to go right back into drilling.

And our eastern projects we have our Ascent, our Canary and our Atlantic. Those ones are also drill ready right now.

So each project’s got a different exploration plan, different capital spend, which makes them very unique and for other companies looking at those for opportunities.

TMH: My gosh, you are really busy.

Bey: My geologists are really busy.

TMH: I know that. But then obviously speaking with you, it’s like, wow, there’s a lot going on for the company, which is great. Going back to the Corvo project specifically though, what are the benefits of growing that project?

Bey: I think that one is pretty interesting because it’s early stage. It hasn’t been drilled yet by our team. We’re getting there. We’re able to do some early stage exploration and also get partners that maybe are looking for a project where they don’t have to go right into drilling.

So that one’s going to give us the opportunity to do some exploration work, get that one permitted for drilling down the road, and then get us a good sniff of what could be there.

TMH: I know this summer was challenging for many junior mining companies, narrowing in on uranium specifically. But what do you think the remainder of the year has in store, let’s say maybe just for the sector and then for the company?

Bey: So, the summer was probably the worst summer I’ve seen in the capital markets in 10-plus years. We thought we would be able to go back to the market and raise money in May. And when we attempted that, there was just no money available; the investors backed right out. So we decided to put the brakes on things and ride it out.

And then as we headed into September, you know, the thoughts were the market’s going to turn, investors are going to come back, uranium’s going to pick up steam. And that’s exactly what’s happened.

In the last three to four weeks uranium’s on fire. Investors are really starting to get behind uranium. We’re seeing the price of spot go up almost $10 in the last month, which is unheard of. That hasn’t happened since the last major bull run.

So seeing that is getting the general investor excited and we’re starting to see the uranium companies really starting to catch fire and we’re seeing incredible interest now in our projects, which is exciting for our team.

TMH: Good to be on the up now for sure. And then recently, I know the company announced the first property transaction that took place. So, for those who are watching who may not know, can you kind of fill us in on the specifics if possible.

Bey: So, what I can tell you, we had a news release out last week. We signed a letter of intent with a group that was to move our Sun Dog project forward.

So, it’s a three-year deal where we’re going to be able to start working on it again this winter, start drilling it. And this company can earn 100 per cent of this project over three years if they proceed with the spending.

Now, I can tell you right now we’re working towards a definitive agreement. So it’s not finalized, but we like the project. We know it’s got great potential and there are other companies out there that are looking at that deal and thinking, wow, this is something that we could get behind as well.

TMH: Is there anything in closing that maybe I missed or that you kind of wanted to reiterate for investors watching?

Bey: Yeah, I think it’s pretty exciting for investors watching to understand that we are a project generator. We’ve got seven projects and they’re all open for business.

Davidson River is our flagship. We’ve actually divided that in two. We want to keep half of that 100 per cent for ourselves, and JV (joint venture) out the other half. But we are now seeing increased interest on multiple projects and the timing is right to reach out to us and see if you want to get in on one of those deals as well.

For more information on Standard Uranium, check out standarduranium.ca.

Join the discussion: Find out what everybody’s saying about this stock on the Standard Uranium Bullboard and check out the rest of Stockhouse’s stock forums and message boards.

This is sponsored content issued on behalf of Standard Uranium Ltd., please see the full disclaimer here.


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