U3O8 Corp reports that a trial has commenced to test the effectiveness of geophysics to detect channels at the base of the gravel layer at its Laguna Salada Deposit in Argentina. Exploration elsewhere on the Property has shown that channels contain higher-grade uranium-vanadium mineralization that could further improve the positive economics of the Deposit.
In 2017, Argentina committed to the construction of its 4th and 5th large nuclear power plants and is on schedule with refurbishment related with the life-extension and up-rating of the Embalse nuclear plant. Construction of the CAREM 25 small modular reactor (“SMR”) – one of only three SMRs under construction around the world – is reported to be progressing well.
2017 was an extraordinary year for the uranium industry: against a backdrop of steadily increasing nuclear energy generation and uranium demand, the world’s largest and lowest-cost producers cut output to essentially eliminate the oversupply that has dogged the uranium market since the Fukushima meltdown almost seven years ago. Underscoring the fact that today’s uranium prices are too low for profitable production, the State-run uranium producer in Kazakhstan, that produces 40% of the world’s uranium and is the world’s lowest-cost producer, has set up a trading arm that will allow its uranium to be sold at higher prices.