Resources Top 5: Uranium Edition

ASX uranium stocks surge as spot price hits 17-year high
Led in early trade by near term miner Deep Yellow (ASX:DYL), enrichment hopeful Global Uranium (ASX:GUE), and red-hot WA explorer Cauldron Energy (ASX:CXU)
Mako Gold also up +30% in morning trade on no news

Here are the biggest resources winners in early trade, Friday February 2.

ALL THE URANIUM STOCKS (AGAIN)

Another big day for uranium stocks on the ASX after spot prices raced to their highest point since mid 2007.

🐳Spot #Uranium soared today⏫ to highs not seen since mid 2007🦕with #Nuclear fuel brokers @Numerco & @EvoMarkets UP +$5.84 to $106.50/lb #U3O8⏫ and US @UraniumMarkets UP +$6.00 to $106.25 with sellers asking $109 🤠as scramble breaks out to secure lbs in a barren market.🏜️🛒😯 pic.twitter.com/zZ40x69Xlh

— John Quakes (@quakes99) February 1, 2024

Oh my God… look at that bid! 👀 #uranium @energyburrito pic.twitter.com/s7C9JNTbTt

— Uranium Corgi (@UrTokenCorgi) February 1, 2024

It comes after world #1 producer Kazatomprom downgraded guidance for 2024, blaming construction delays and the availability of sulphuric acid for processing.

“If the limited access to sulphuric acid continues through the current year and the company does not succeed in reducing the delay in the construction schedule at the newly developed deposits in 2024, this could unfavourably influence Kazatomprom’s production plans for 2025,” the company says in its quarterly update.

Bullish. After an exceptionally strong January, ASX yellowcake stocks shot out of the gate on Friday in response, led by near term miner Deep Yellow (ASX:DYL), enrichment hopeful Global Uranium (ASX:GUE), and red-hot WA explorer Cauldron Energy (ASX:CXU), which is now up 450% over the past 12 months.

NOW READ: Tribeca’s Guy Keller doesn’t ask why uranium could hit US$175/lb … he asks why not?

ASX Uranium Stocks Today

Swipe or scroll to reveal full table. Click headings to sort:

CODE	COMPANY	%	MARKET CAP
DYL	Deep Yellow Limited	18%	$1,139,365,538
GUE	Global Uranium	12%	$26,526,122
CXU	Cauldron Energy Ltd	10%	$44,979,563
THR	Thor Energy PLC	9%	$6,139,199
BSN	Basinenergylimited	8%	$11,521,801
NFL	Norfolkmetalslimited	8%	$6,888,374
UVA	Uvrelimited	8%	$4,302,770
BOE	Boss Energy Ltd	7%	$2,312,972,261
AGE	Alligator Energy	7%	$293,535,484
BMN	Bannerman Energy Ltd	7%	$534,942,695
EL8	Elevate Uranium Ltd	7%	$188,152,414
NXG	Nexgenenergycanada	7%	$443,880,424
EME	Energy Metals Ltd	6%	$32,500,913
PDN	Paladin Energy Ltd	6%	$3,848,554,438
TOE	Toro Energy Limited	6%	$57,735,287
PEN	Peninsula Energy Ltd	6%	$267,865,582
SLX	Silex Systems	6%	$1,165,573,611
LOT	Lotus Resources Ltd	5%	$597,033,159
GTR	Gti Energy Ltd	5%	$21,524,444
GLA	Gladiator Resources	4%	$15,457,421
DEV	Devex Resources Ltd	4%	$114,709,574
ARE	Argonaut Resources	4%	$24,678,604
1AE	Auroraenergymetals	4%	$22,288,970
AEE	Aura Energy	4%	$165,929,641
92E	92Energy	3%	$62,395,185
MEU	Marmota Limited	2%	$45,528,425
BHP	BHP Group Limited	1%	$238,788,331,366
RIO	Rio Tinto Limited	1%	$49,108,192,950
MOM	Moab Minerals Ltd	0%	$4,983,744
VAL	Valor Resources Ltd	0%	$14,606,672
LAM	Laramide Res Ltd	0%	$18,315,551
ACB	A-Cap Energy Ltd	0%	$86,499,432
SBR	Sabre Resources	0%	$9,356,548
KNG	Kingsland Minerals	0%	$13,372,885
HAR	Harangaresources	0%	$20,144,110
BKY	Berkeley Energia Ltd	-6%	$151,570,883
ADD	Adavale Resource Ltd	-7%	$5,678,205

MAKO GOLD (ASX:MKG)

(Up on no news)

The $15m capped African gold junior is enjoying a nice bounce in 2024, up 70% year-to-date.

Mako’s focus is on Napié in Côte d’Ivoire, one of the less challenging countries in West Africa, where it has a 868,000oz-and growing resource.

In efforts to bolster its inventory the company is currently doing a bunch of low-cost mapping/ sampling exercises across the project area to generate new targets for drill testing.

New sampling results announced yesterday from the Tchaga North target include 79.50g/t, 60.66g/t, and 44.73g/t.

“The mapping and rock chip sampling program which identified the yet to be drilled east-west structures hosting gold-bearing quartz veins, indicate that we may have discovered a high-grade system at Tchaga North,” the company says.

“After the completion of the mapping/rock chip sampling program, we will prioritise the areas and plan new holes to test these structures with north-south oriented drill holes.”