Next US Uranium Producer Gets Boost

by Mike Fagan

Mike Fagan


Azarga Uranium (TSX: AZZ)(OTC: AZZUF) — currently trading at approximately C$0.25 per share — has announced that a key institutional investor, Tees River, has increased its ownership stake in the company to 11 percent.

The move is further validation of Azarga’s intelligent growth strategy of advancing multiple ISR (In-Situ Recovery) uranium projects on US soil.

Already, Azarga controls a combined ~46 million pounds of U3O8 — and its flagship Dewey Burdock project in South Dakota is regarded as one of the best undeveloped ISR projects in the United States because of its high grade.

Azarga president & CEO, Blake Steele, commented via press release:

"We are very pleased that a strategic, institutional investor continues to see solid value in our shares and has increased their ownership interest in Azarga Uranium as we advance our portfolio of high quality uranium assets in the United States. Our flagship asset, the low-cost Dewey Burdock Project, is one of the preeminent undeveloped in-situ recovery uranium projects in the USA, boasting robust project economics, and we are aggressively moving towards construction."

Sean Benson, Chief Investment Officer of the Tees River Uranium and Critical Resources Funds, added:

"As the sentiments towards nuclear power improve among policy makers and investors, we continue to see substantial upside in the uranium sector. Companies such as Azarga Uranium, with low-cost, advanced stage projects are well positioned to significantly benefit from the structural uranium deficit and we are happy to be a long-term supportive shareholder.


Specifically, AK Jensen Investment Management Ltd. — through its Tees River Uranium Fund and Tees River Critical Resources Fund — has increased its ownership of Azarga to 10.94% of the issued and outstanding common shares on a non-diluted basis and 12.58% on a fully diluted basis.

Last quarter, Azarga obtained final EPA permits for its Dewey Burdock project and closed an oversubscribed C$6 million bought deal financing.

The company is now cashed up and focused on finalizing the state permitting process and moving Dewey Burdock [17 million lbs U3O8 M&I] into development.

Additionally, Azarga has completed multiple hydrological studies at its Gas Hills Uranium Project, Wyoming, with results indicating conditions are suitable for ISR mining on the majority of the current resource estimate.

And directly adjacent to Dewey Burdock, Azarga has identified significant uranium mineralization at its Dewey Terrace Project where the company is working toward delivering a maiden resource estimate.

2021 is shaping up to be a transformative year for Azarga as the only pure-play ISR focused uranium developer in the USA. Now is an excellent time to conduct your own due diligence — and a great place to start is Azarga’s corporate website.

Also click here for our most recent report on Azarga Uranium.

Yours in profits,

Mike Fagan

Mike Fagan
Editor, Resource Stock Digest
 

Mike Fagan has mining in his blood. As a teenager he staked countless gold and silver properties in Nevada alongside his dad, Brian Fagan, who created the Prospect Generator model that’s still widely used today in the resource space. One of those staking projects was put into production by a major Canadian mining company — a truly rare and profitable experience. That background uniquely qualifies him as a mining stock speculator. One of the most well-known names in the business, Mike is now putting that experience to use for the benefit of Resource Stock Digest and Hard Asset Digest readers.