Kraken Energy (CSE: UUSA)(OTC: UUSAF) CEO Matthew Schwab on Expansion and Advancement of Flagship Apex Uranium Project, Nevada


Gerardo Del Real: This is Gerardo Del Real with Resource Stock Digest. Joining me today is the CEO of Kraken Energy — Mr. Matthew Schwab. Matt, it’s great to have you back on. We were joking off-air a bit about having a uranium market. We've been patient but it looks like it is go-time. How are you today?

Matthew Schwab: Thanks, Gerardo. I'm doing really well. I appreciate you having me back. It's always good to chat with you. Like you said, we were joking a little bit offline but things are looking fantastic right now. It's really long overdue what we're seeing in the uranium market right now… so it's looking like good times ahead.

Gerardo Del Real: Well, listen, let's get right into it. There are two types of management teams: Management teams that use bear markets — or consolidations, in this case, in the uranium space — teams that use those consolidations to add value, whether that's through property acquisitions, the drill bit, etc. You're doing it in multiple ways. 

And now that we have a market and people are paying attention, you've positioned shareholders really well. So I wanted to have you on and just talk about expanding the project size at Apex and then talk about what's going on. And then, of course, what comes next.

Matthew Schwab: Yeah, absolutely. That's a key component of Kraken Energy is we've really never shut down that project evaluation stage of what we're doing. We're always looking for new opportunities, whether it be staking opportunities, acquisitions, across the board.  

We're always trying to build up that portfolio because of the strategic goal of our company being putting in place that realistic hub-and-spoke mining model for domestic uranium production in the US. And I really do think that Kraken Energy is very well situated right now with four high-grade uranium projects in the United States. 

And like I said, the market is showing signs that the world is finally realizing that uranium is the only realistic option for energy security to address our growing demands. So at present, and like it has been in the past, we're moving ahead aggressively with our projects and we finally have some updates on our flagship Apex property in Nevada.

So after a long wait for our shareholders, we’ve finally received an official update from the US Forest Service, and we do expect to have permits in place for drilling that part of the property in early 2024. 

What they've asked for now is three additional baseline surveys; the first being a botany survey, which has already been completed. We expect to kick off the heritage survey in the coming month. And the final wildlife survey is planned for early 2024. 

But alongside that, as you mentioned, we've continued to develop our understanding of the geology and the mineralization potential on the property. And we recently staked an additional 2,400 acres on BLM ground immediately to the west of the historic Apex Mine.

So now, on that front, we've secured service providers to fly additional high resolution geophysical surveys that will tie into our existing datasets. We're moving ahead with additional surface radon surveying, and we expect to have our Draft Notice of Intent ready for submission to the BLM within two weeks. 

So really, in summary, this path will give us the option, potentially, to move ahead with drilling at Apex in 2023 while we still continue to work with the US Forest Service on permitting the rest of the property.

Gerardo Del Real: That's a whole heck of a lot going on. It's an exciting market. You're also going to be at an investor conference here, if I'm not mistaken, or have you already presented at that conference, Matt? I know it's been a bit since we’ve chatted.

Matthew Schwab: No, conference season is really kind of kicking off right now. I leave this Thursday to CEM Muskoka so I'm really looking forward to that. It'll be a great conference as they usually are. And I think the next one on the queue after that is CEM Florida. So yeah, it's going to be a busy Q3, Q4 here, and I'm really looking forward to it. It looks like it's going to be an exciting end of the year.

Gerardo Del Real: Well, listen, there are a lot of catalysts. We finally got the market as we stated up top. I am looking forward to having you back on and looking forward to an exciting end to the year. Anything to add to that?

Matthew Schwab: No, I really just think everybody should be staying tuned for more news in the coming months. I really do think that the rest of the year is going to be very exciting for Kraken Energy.

Gerardo Del Real: Couldn't agree more. Thank you so much, sir. Appreciate it!

Matthew Schwab: Thanks a lot, Gerardo.

Gerardo Del Real: Cheers.