Source: Western Uranium & Vanadium Corporation
  • Western Uranium (WUC) has acquired property in Utah to build a state-of-the-art mineral processing plant
  • Site and facility design and permitting are underway, the facility will recover uranium, vanadium, and cobalt from ore mined both from mines owned by Western and ore produced by other miners
  • Mine development and ore production have already begun at Western’s Sunday Mine Complex
  • Western Uranium and Vanadium Corp. (WUC) is unchanged, trading at C$1.12 per share at 10:55 am ET

Western Uranium (WUC) has acquired property in Utah to build a state-of-the-art mineral processing plant.

Site and facility design and permitting are underway, the facility will recover uranium, vanadium, and cobalt from ore mined both from mines owned by Western and ore produced by other miners. Mine development and ore production have already begun at Western’s Sunday Mine Complex. That ore will provide feed material to the facility, which will use the latest processing technology, including Western’s patented kinetic separation process.

Though uranium supply and demand are in balance right now because of historical inventory, the company expects demand will far exceed available supply in the next several years.

George Glasier, Western Uranium’s President and CEO, called this one of the most significant events in the company’s history.

“The processing facility, when completed, will provide Western with uranium and vanadium to sell into improving markets and thus result in substantial cash flow from operations.”

Western Uranium and Vanadium (WUC) is a Canadian company involved in the industrial metals and mines business. It focuses on exploring, developing, mining, and producing its uranium and vanadium resource properties.

Western Uranium and Vanadium Corp. (WUC) is unchanged, trading at C$1.12 per share at 10:55 am ET.


More From The Market Online

Top crypto stocks and ETFs to consider before the Bitcoin halving

Read about 10 of the highest-performing Bitcoin stocks and ETFs leading up to the cryptocurrency's April 2024 halving.
GoGold - GoGold Resources' Parral operation in Mexico.

Three mining stocks that look cheap with gold at all-time highs

If you've noticed that gold mining stocks haven't been tracking gold's recent ascension to all-time highs, you aren't alone.

@ the Bell: Markets deeply divided amid Middle East flareup

Canada’s main stock index jumped on Friday, aiming to recoup some weekly losses, as investors shed caution around Middle East tensions.