Anson’s now part of Global X’s $2.4bn Uranium ETF
Link copied to
The significance of Anson’s Yellow Cat uranium project in Utah has been recognised by its inclusion into the world’s largest exchange traded fund for uranium and nuclear energy.
Its inclusion into the Global X Uranium ETF, which has net assets of about US$1.7bn ($2.39bn), as a non-pure play uranium stock follows its addition to the Solactive Global Uranium and Nuclear Components Total Return Index.
While Anson Resources (ASX:ASN) remains focused on developing its flagship Paradox lithium project – also in Utah – its inclusion in the ETF has the benefit of increasing its exposure to investors keen to get a slice of the uranium and nuclear pie.
This is timely given the positive outlook for the uranium sector ahead of an impending supply shortage facing Western utilities.
The Yellow Cat project is 30km north of Moab and is considered prospective for the development of both uranium and vanadium due to the historical high grade mineralisation present on the separate Yellow Cat and Yellow Cat West claims.
Surface outcrops and ore pad grab samples have previously been submitted for laboratory analysis while high grade assays have been recorded of up to 87,600 parts per million uranium (10.33% U3O8) and 143,500ppm vanadium (25.61% V2O5).
Its location within a region which is increasingly sought-after by companies exploring for uranium just adds further to its prospectivity.
Anson is currently sourcing quotes from contractors to carry out the surveys required for Yellow Cat Project to obtain approvals for exploration drilling programs.
This will seek to confirm existing results and extend known mineralisation along strike and down dip.
This article was developed in collaboration with Anson Resources, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.