Long Shortz with GTI Energy: A buffalo-big maiden resource from the budding uranium developer
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It’s a buoyant time for uranium developers and GTI Energy is getting on its megaphone from Wyoming to heed the call.
During the quarter just passed, GTI Energy declared a maiden inferred resource estimate at its Lo Herma project in Wyoming of 4.12 million tonnes at an average grade of 630 ppm U3O8 for 5.71 million pounds of U3O8.
The project is ~10 miles from the US’ largest ISU U3O8 production plant at Cameco’s Smith Ranch-Hyland and ~60 miles from UEC’s Irigaray & Energy Fuels’ Reno Creek.
GTI Energy’s achievements are presented across the backdrop of a bullish uranium spot price, which recently climbed above $US70/lb – a performance last seen as far back as 2008.
“The uranium price is certainly heading in the right direction and creating some excitement out there and the other factor that’s occurring is a real move to long-term contracting…as it used to be many years ago,” Lane told Stockhead TV.
Tune in to hear GTI Energy’s Bruce Lane on what to expect next from Lo Herma and the greater uranium market.