For those interested from ----head article:n the AthabascaOne of...

For those interested from ----head article:

n the Athabasca

One of those earlier movers was Basin Energy (ASX:BSN), which is earning into ground in the Athabasca Basin, home to the world’s highest grade uranium mines famously known as the host of Cameco’s McArthur River and Cigar Lake mines – where grades sit around 100x the global average — and NexGen Energy’s (ASX:NXG) Arrow development asset, regarded by some analysts as a ‘geological freak’.

Basin has just kicked off a second phase drill program at the Geikie project, having listed when uranium spot prices were around half of current levels in September 2022.

“We were happy that we moved when we did and I think we’d waited another 12 months, we would never have been able to do a deal to get into that footprint of land that we’ve got,” Basin MD Pete Moorhouse said.

“There’s a difference between having land in the Athabasca and having quality land and I believe that the targets and the explorability of the landholding that we have is fantastic.

“Certainly the value of other opportunities has increased quite significantly listening to some of the deals which are being discussed.”

While a number of companies will be pegging new ground or dusting off old projects, Moorhouse is bullish on the potential benefits to flow from increased investment in uranium exploration.

“We saw this cycle coming and that’s what you get when you’ve got a team which has some solid uranium experience and we set Basin up specifically to make the most of this period and this exciting era which we’re coming into now,” he said.

“I’m certain we’ll see some projects emerge over the coming weeks and months which people are familiar with who were in the last boom, and we’ll see some new ones come out.

“So that’s fantastic to see the focus on the sector, and genuine capital coming in to quality exploration, which really is what we need to sustain the next 15 years of uranium demand.”