Power Mag reported that Russia has planned for the expansion of nuclear power which could see as many as 34 new reactors by 2042 within the country.
The plan was published by the Unified Energy System of Russia and is seeking an increase of nearly 5 per cent in Russia’s nuclear power, up from 18.9 per cent to 23.5 per cent by 2042.
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Uranium spot price update
As of the time of this writing on Wednesday, the uranium spot price sits at US$79.40 per pound, up slightly from last week’s $78.80, according to Business Insider.
Uranium companies in the spotlight
Cosa Resources (TSXV:COSA) announced it had begun drilling at its 100-per-cent-owned Ursa Uranium Project in the Athabasca Basin. Drilling will take place at the Kodiak target area and will follow up a significant zone of sandstone alteration and structure with geochemical enrichment intersected by 2024 drill hole UR24-03.
Skyharbour Resources (TSXV:SYH) revealed it had also begun drilling at its 100-per-cent-owned, 35,705-hectare, high-grade Moore Uranium Project in the Athabasca Basin.
The project is approximately 15 kilometres east of Denison Mine’s Wheeler River project and proximal to regional infrastructure for Cameco’s Key Lake and McArthur River operations.
Finally, Tisdale Clean Energy (CSE:TCEC) stated it had amended its option agreement with Skyharbour Resources related to Tisdale’s option to earn up to a 75 per cent interest in the South Falcon East uranium project in the Athabasca Basin.
The amendment extends cash and work commitments for the project for the remainder of 2024 into 2025 and requires Tisdale to issue 2.5 million common shares to Skyharbour on or before Aug. 30, 2024, and to pay Skyharbour C$1.27 million on or before Feb. 28, 2025.
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