228  0 Kommentare Western Uranium & Vanadium Corp. Corporate Update

With respect to market conditions, the Company continues to closely follow a number of potential key catalysts driving improvements in the vanadium and uranium markets including:

• Vanadium Section 232: United States Department of Commerce (“DOC”) is reviewing a petition by industry participants that requests a 40% tariff on vanadium imports from all sources and the establishment of a stockpiling program. Separate tariff rate quotas were requested for refined vanadium products. Western has submitted survey data and continues to support this investigation and remedies that level the playing field for U.S. domestic producers versus foreign state sponsored competitors.
• Uranium – Nuclear Fuel Working Group and related Industry Developments: The American nuclear industry had its best month in decades during October. The United States Department of Energy gave awards to TerraPower and X-energy to build demonstration models of their advanced reactor designs and NuScale to deploy the first U.S. small modular reactor plant (12 modules) at the Idaho National Laboratory. The U.S. International Development Finance Corp. signed a letter of intent to finance NuScale’s development of 2,500 megawatts of electricity generation in South Africa (42 modules). The DOC finalized a 20-year extension to the Russian Suspension Agreement to reduce U.S. imports of uranium from Russia. The measure offering the greatest support for U.S. uranium miners and the U.S. uranium converter is the annual $150 million strategic uranium reserve which will be determined in 2021 congressional budget deliberations after the U.S. election.
• Uranium Market: Due to mine closures of the past few years and recent COVID related uranium supply disruptions, uranium markets are set for recovery from almost a decade of oversupply in the post-Fukushima era. The largest uranium companies in the world are purchasing nuclear fuel on the spot market to fulfill supply contract deliveries. On the supply side of the market, both primary and secondary supplies are declining. On the demand side of the market, utility uncovered requirements are at a cycle high, worldwide about 50 nuclear reactor new builds are scheduled to come online in the next 5+ years, and additional Japanese nuclear reactor restarts have received approvals.

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As a result of these many positive macro factors, multiple analysts are projecting a repricing of uranium in the 2022/2023 timeframe.  Western remains positioned to quickly reinitiate production once fundamentals are better reflected in market pricing.

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