Ross McElroy, president and CEO of Fission Uranium (TSX:FCU) sat down with The Market Herald’s Sonia Madigan at the PDAC 2022 Conference in Toronto, Ontario.
In the interview, McElroy discussed the company’s uranium feasibility study that is currently underway at the Patterson Lake South Project in Saskatchewan’s Athabasca Basin.
The project provides a unique opportunity for investors thanks to its location in the Athabasca Basin, which is one of the world’s top jurisdictions for uranium.
With some of the biggest uranium companies situated in the Athabasca Basin — including CameCo Corporation and Denison Mines — Fission Uranium presents itself as a unique opportunity thanks to low operating costs at all levels of uranium production.
As such, this would allow for strong margins in the top global quartile.
That being said, the uranium market has had its string of challenges over the last 10 years and market sentiment is beginning to get stronger. Notably, Fission Uranium is building strong relationships with northern remote communities including Indigenous communities that will have a positive impact on the company.
Fission Uranium said it also hopes to educate investors about the feasibility of uranium and the safety of nuclear power.
Moving forward, McElroy said the uranium market is continuing to grow and anticipates uranium price appreciation throughout the course of 2022.
At present, uranium prices are just above the US$50 per pound mark, but getting projects into production should push prices around $80 per pound.