Cosa Resources (TSX-V: COSA)(OTC: COSAF) CEO Keith Bodnarchuk on Uranium Bull Market & Discovery Drilling in 2024
Gerardo Del Real: This is Gerardo Del Real with Resource Stock Digest. Joining me today is the president and CEO of Cosa Resources, Mr. Keith Bodnarchuk. Keith, how are you today?
Keith Bodnarchuk: I'm doing great, Gerardo. How are you?
Gerardo Del Real: I am well. We have ourselves a 16-year high in the uranium spot price. All of the fundamentals seem to be lining up for another epic run. We know that uranium bear markets are brutal to the downside, but we also know that when they turn back up, they're pretty violent to the upside, and I think you're positioned perfectly with Cosa. Can we talk about the recent news with the exploration permits that you just received for your Ursa Uranium Project in the Athabasca Basin?
Keith Bodnarchuk: Yeah, absolutely. So we are now 100% permitted through to June 2025 to do drilling and geophysics on our 100%-owned Ursa Project. So an important milestone for us, and now we're just excited to get back to doing what we do best, and that's explore it.
Gerardo Del Real: Excellent. Tell me about the project. Tell me a bit about what you're targeting and what the hope is there in the approach.
Keith Bodnarchuk: We've mapped 100 kilometers of conductor strike length on this Ursa trend, which is the Cable Bay Shear Zone. And more importantly, we've identified 10 key target areas that we're going to look towards doing some ground geophysics and ultimately drilling, and so it's been pretty exciting for us. Those airborne results, I would say, exceeded our expectations, and now we're excited to do those next layers of exploration on it.
Gerardo Del Real: Can you talk about the portfolio as a whole? Obviously, the shares have gained traction here recently. You have some pretty favorable tailwinds in the uranium space, and look, even after the recent run-up in the share price, you still have a tiny, tiny market cap.
So for those that are looking to get positioned in the uranium space, with an explorer that has a team of having a history of serial success, can you just speak to that a bit? The team, the assets, and just a brief overview of the company?
Keith Bodnarchuk: Yeah, certainly. So like I said, we are somewhat of a new story, but we're led by a team with a tremendous amount of success in the Athabasca base. We are essentially the IsoEnergy Discovery Team back together again, and we're ready to do and attempt it again with Cosa Resources.
As far as projects, we have 160,000 hectares, all within the Athabasca Basin, all 100% owned. Ursa is our top-priority project at this point, but what's important is we're always looking to add to that number two, number three, number four. And just make sure that we have a steady pipeline of opportunities, because ultimately, if Ursa does not show the results we're looking for, we'll move on to something else.
It's important to note that when we were at IsoEnergy, it was actually our seventh project where we found Hurricane. So you have to remain adaptable, and you have to remain nimble to these changes. Ultimately, our goal is to make a discovery, and so we're going to work towards getting the project that ensures we're able to do that.
Gerardo Del Real: Well, I'm looking forward to seeing further results. I'm looking forward to seeing the progress that's made. I know 2024 is going to be a transformational year for the company. Anything to add to that, Keith?
Keith Bodnarchuk: Yeah, just keep watching for news flow from our side. We will be doing some ground geophysics here over the next month or two, and then importantly, we'll get drills turning as soon as we can, hopefully by March of 2024. So yeah, keep an eye out for that, and it's exciting times ahead for Cosa and the uranium sector.
Gerardo Del Real: Looking forward to it. Keith, thanks again.
Keith Bodnarchuk: Thanks a lot.
Gerardo Del Real: Chat soon.Click here to see more from Cosa Resources