What are peoples thoughts with these large uncontrolled bushfires that are passing through the Cigar Lake region at the moment. There is alot of concern for Cameco mine and surrounding mines and infrastructure.
But for 92Energy, this is the exact same region they currently are exploring in. Lets brainstorm some of the risks to 92E exploration. This is my current risk analysis thinking
The fire causes damage to existing drill rigs and exploration equipment currently on site drilling
Infrastructure and access to exploration and drill sites might be damaged or lost to the fire - fallen trees, damaged bridges, power lines and water supply --> lengthy time frames to re-establish access and necessary infrastructure.
Risk of life of geos and onground team
Closure for near term exploration
All of these are current possible risks with these fires that could directly affect 92E and can lead to costly and lengthy delays in exploration and delivery of new results.
I will be watching this carefully and though a closure of the Cigar lake mine is beneficial and bullish for the Uranium price, lets not be complacent and realise that their could also be direct threat to 92E activities and hired equipment.
92E Price at posting:
30.5¢ Sentiment: Hold Disclosure: Held