⛏ Uranium $100 — Kazahks Can’t Ramp Up

PLUS: Founders Hit Again

Greetings Contrarian,

Source: Trading Economics, Numerco.

This is The Next Big Rush, your daily drop of mining and energy investing news. Where we come together, and uranium $100… Drop The Mic. 🎤👋

Here are the highlights:

🚀 Uranium $100 — Kazakhs Can’t Ramp Up

👏 Founders Hit Again

🤣 Meme Of The Day

🚀 Uranium $100 — Kazakhs Can’t Ramp Up

Kazatomprom, the world's largest uranium miner with a massive 40% market share, has issued a warning today that it may not meet its production targets for the next two years.

The company cites shortages of sulfuric acid and construction delays at new deposits as challenges affecting production, potentially extending into 2025. This warning adds to supply concerns in the uranium market as demand for nuclear fuel rises.

This has been alerted by many in the industry and officially confirmed by the company as the uranium spot price reached $100/lb less than 24 hours ago. Uranium equities ended higher in Australia, and Canada is not much behind. 

We hate to say, “we told you so…” Nah, who are we kidding, we LOVE saying “we told you so!”.

👏 Founders Hit Again

Founders Metals Inc. (TSXV: FDR) (OTCQX: FDMIF) (FSE: 9DL0) provides drill core assay results from resource infill/expansion-type drilling conducted in late 2023 within the Froyo Gold Zone at the Antino Gold Project in southeastern Suriname. 

Highlights: 

  • 10.0m of 24.61 g/t Au 

  • 15.0m of 1.72 g/t Au 

Founders is fully funded for an initial 2024 drill program of up to 30,000 m.

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🤣 Meme Of The Day

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The Editor

DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research.

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