The uranium space is going bonkers.

The spark has been the Sprott Physical Uranium Trust (SPUT), which started buying up physical uranium and taking it out of market circulation in August.

So far, this has pushed spot price to +6-year highs.

SPUT has now massively upsized this buying program by ~$US1bn to $RUS1.3bn, and there could be more tailwinds to come, experts say.

Unsurprisingly, investor sentiment is sky high. Every stock on our list, except one, is making gains in morning trade Monday.

At least 14 of them are in double digits.

CODE COMPANY 1 DAY RETURN % 1 WEEK RETURN % 1 MONTH RETURN % 6 MONTH RETURN % 1 YEAR RETURN % PRICE MARKET CAP
92E 92Energy 20 22 148 0.62 $ 20,285,850.52
DYL Deep Yellow 20 25 71 80 367 1.145 $ 316,350,967.89
PEN Peninsula Energy 18 30 93 168 294 0.26 $ 219,124,000.70
VMY Vimy Resources 18 25 67 82 471 0.2 $ 178,754,772.03
VAL Valor Resources 18 33 122 186 400 0.02 $ 50,130,134.11
EL8 Elevate Uranium 17 50 142 431 741 0.69 $ 134,651,951.14
AGE Alligator Energy 17 56 141 483 1300 0.07 $ 167,014,419.66
BMN Bannerman Energy 14 29 107 132 644 0.29 $ 307,228,533.39
LOT Lotus Resources 13 15 69 116 170 0.27 $ 230,373,315.12
LAM Laramide Res 11 24 42 33 136 0.825 $ 876,415.30
DEV Devex Resources 11 17 50 64 38 0.345 $ 95,428,529.77
TIN TNT Mines 10 59 80 50 54 0.27 $ 29,411,816.11
PDN Paladin Energy 9 20 97 130 559 0.935 $ 2,289,678,157.40
CXU Cauldron Energy 10 22 50 36 41 0.045 $ 20,143,038.83
GLA Gladiator Resources 9 27 170 170 -16 0.0405 $ 16,462,036.45
GTR Gti Resources 9 30 106 94 40 0.035 $ 25,477,909.28
OKR Okapi Resources 9 37 58 330 246 0.71 $ 66,015,121.90
TOE Toro Energy 8 27 87 33 100 0.028 $ 101,330,896.68
BOE Boss Energy 8 27 78 104 265 0.285 $ 603,743,221.09
NXG Nexgenenergycanada 5 7 48 8.02 $ 83,227,536.42
BKY Berkeley Energia 0 -3 -3 -49 -63 0.325 $ 84,169,117.50
DLC Delecta 35 69 125 170 93 0.0135 $ 10,086,212.00
ERA Energy Resources of Australia 26 22 58 105 156 0.42 $ 1,530,000,000.00

 

ENERGY RESOURCES OF AUSTRALIA (ASX:ERA)

(Up on no news)

Rio Tinto’s uranium business is in the twilight of its life, with work now moving to the rehabilitation of Australia’s longest continually operating uranium mine, Ranger.

132,000 tonnes of uranium oxide have been mined from the Northern Territory mine over the past 35 years.

While there are no immediate plans to develop the costly underground resources, ERA has flagged its intention to “preserve optionality over the company’s undeveloped resources; and progress inorganic growth options evaluation”.

ERA also continues to hold substantial inventories of uranium oxide “that it aims to sell down opportunistically”.

The $1.61bn market cap stock is up 36% year-to-date.

 

DELECTA (ASX:DLC)

This $10m market cap minnow chose a good time to resume exploration at the early-stage Rex uranium project in Colorado.

Sampling and mapping programs have, so far, returned high-grade uranium and vanadium results.

Exploration is ongoing, with assays from the current program expected to be returned in the coming weeks.

“Due to renewed optimism surrounding future uranium pricing, the company recently decided to ramp up exploration at its majority owned REX uranium-vanadium project,” DLC boss Malcolm Day says.

“The project’s history of uranium mining, its proximity to operating infrastructure and the prevailing supportive government regime, bodes well for the development of the project.”

 

DEEP YELLOW (ASX:DYL)

(Up on no news)

Deep Yellow has three uranium projects in Namibia – Reptile, Nova and Yellow Dune.

A pre-feasibility study was completed in early 2021 on its 3mlb per annum ‘Tumas’ deposit – within the Reptile tenements — and a definitive feasibility study (DFS) commenced February 2021.

In early September, the company completed a “very successful” Tumas DFS resource upgrade infill drilling program.

“I, along with the team, are very pleased with the results demonstrating the great potential of Tumas to develop into a tier-one uranium deposit,” Deep Yellow managing director John Borshoff says.

“The large amount of Inferred and Indicated Resources that have been identified through the latest program, at a highly-effective overall discovery cost of 9.4c/lb U3O8, provides the team with great confidence that we have identified enough resources to proceed with evaluation of a 20+ year LOM operation in the Tumas DFS.”

“A major risk milestone has been overcome by the emergence of this robust resource base, importantly also showing added potential to increase the resource even further, providing Deep Yellow with exceptional, additional optionality for optimisation of the DFS, expected to be completed in the latter part of CY2022”.

The $390m market cap stock is up 137% year-to-date.

 

A-CAP ENERGY (ASX:ACB)

(Up on no news)

While explorer A-Cap is focussed on the ‘Wilconi’ nickel-cobalt project in WA, it also has sneaky exposure to the burgeoning uranium thematic.

The stock says the currently mothballed ‘Letlhakane’ project in Botswana contains one of the world’s largest undeveloped uranium deposits.

“The Company’s Letlhakane uranium project remains an important project asset within the diversified minerals strategy,” A-Cap said late July.

“While the nuclear industry is confident in the long-term fundamentals of uranium and nuclear power, there is less certainty in the short term with industry expectation that the market will gradually move towards balance from calendar year 2025.”

The $75m market cap stock is up $183% year-to-date.

 

92 ENERGY (ASX:92E)

(Up on no news)

The freshly listed uranium explorer wants to unlock the potential of its tenements in Canada’s ‘Athabasca Basin’, just 11km from Cigar Lake — one of the world’s largest and highest-grade uranium deposits.

A recent survey over its ‘Tower’ and ‘Gemini’ projects identified multiple prospective conductors prospective for high-grade, unconformity-type uranium.

Unconformity-type uranium deposits such as Cigar Lake and McArthur River are some of the largest and richest deposits globally, it says.

In early September 92E hit “a zone of elevated radioactivity” about 190m below surface in inaugural drilling at Gemini.

Assay results are due soon.

The $27m market cap stock is now up 250% on its April IPO price of 20c per share.

 

ENERGY METALS (ASX:EME)

(Up on no news)

This cashed up market cap enigma has eight mothballed exploration projects in the Northern Territory and WA.

Its main game is the ‘Bigrlyi’ uranium-vanadium project, where a prefeasibility study (PFS) was completed in 2011 before the uranium price hit the skids.

Work was suspended in 2012 and not much has been done since, despite a healthy bank balance of $15.7m at the end of the last quarter.

But here’s the kicker — the stock is tightly held, with only ~200m shares on issue. Most of this (66%) is held by a subsidiary of the state-owned China Nuclear Power Group (CGN), one of the largest nuclear power providers in the world.

CGN has five more power plants under construction and an additional two planned.

“The company’s strategy is to maintain tenure over its Western Australian uranium deposits with minimum expenditure until economic conditions improve and WA Government restrictions on uranium mining are lifted,” EME said last week.

“Energy Metals continues to monitor the situation with a view to recommencing exploration and development activities in the future.”

The $88m market cap stock is up 223% year-to-date.

 

VIMY RESOURCES (ASX:VMY)

(Up on no news)

The near term mine developer briefly plunged recently when long standing managing director Mike Young stepped down after 7 years.

Young said it was time to hand over to a transitional management team “to progress the remaining approvals and move towards project financing and development”.

Vimy’s flagship project is Mulga Rock in WA, one of Australia’s largest undeveloped uranium resources.

The $215m market cap stock is up 157% year-to-date.

 

VALOR RESOURCES (ASX:VAL)

(Up on no news)

This Tolga Kumova favourite has uranium projects in Canada’s Athabasca Basin.

Valor dropped some serious rock chip samples from the ‘Hook Lake’ uranium project at the end of August, with uranium oxide grades as high as 59.2% with rare earths, lead and silver potential to boot.

Kumova said the mineralisation combination was unique.

“To have all of those minerals in the same place is incredibly exciting,” he said.

“I’ve been looking to find analogous deposits and I just can’t, I haven’t seen it and I couldn’t find anything like it.”

“When it comes to these types of grades, especially in uranium, normally you’re going for parts per million mineralisation – 59% is enormous.”

The $50m market cap stock is up 100% year-to-date.

 

ALLIGATOR ENERGY (ASX:AGE)

(Up on no news)

In early August AGE raised $10.7m to accelerate its key projects – ‘Samphire’ in South Australia and ‘Alligator Rivers’ in the Northern Territory.

“Alligator can now aim to advance the Samphire Project through scoping and into feasibility work in an improving uranium market,” Alligator chief exec Greg Hall says.

“We believe our planned on-ground work on Samphire and the advanced work on the high-grade U40 Prospect extension will translate through to enhanced value to Alligator Shareholders.”

The $205m market cap stock is up 640% year-to-date.