In early July a new uranium company, URZ Energy Corp., completed its initial public offering and listing on the TSX Venture exchange – an electronic trading stock exchange based in Canada.
URZ is led by an experienced management team including Glenn Catchpole as CEO. Catchpole, a licensed engineer with almost 40 years of uranium experience, was the former CEO of Uranerz Energy Corp. prior to its $180 million acquisition by Energy Fuels in 2015.
Uranerz was founded in 2005, with an inception market capitalization of approximately $10 million. The uranium price was hovering between $20 and $30 per pound and over the course of the next ten years, Uranerz acquired, explored, and developed the Nichols Ranch uranium mine in Wyoming (as well as other assets), culminating in the sale of Uranerz to Energy Fuels during the uranium slump following the Fukushima disaster.
At its peak, Uranerz Energy had a market capitalization approaching $420 million. At the time of sale, in a post-Fukushima market climate, the company was valued at approximately $175 million.
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