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50.0¢ 92 energy limited

Might be a bit longer of a wait until results too :/

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MrStrengths

2,908 Posts.

1414

09/09/21

15:51

Post #: 55950993
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Originally posted by kdw779: ↑

92 Energy (ASX: 92E)
Market cap of only $37m at 56.5c SP - listed in April2021 (the first uranium stock listed on the ASX for over 10 years)
Quick Summary
Uranium explorer in the Athabasca basin in Canada which is known for numerous high quality uranium mines
92E has highly prospective ground near Cigar Lake (the large uranium mine in the world) and McArthur River (the highest grade uranium mine in the world)
Gemini prospect - Initially drilling program commenced over the last few weeks at Gemini and last week they announced with only their 4^th drillhole they have elevated radioactivity levels and will be refocusing their gemini drilling program to this area
Uranium industry is expected to hit a bull market in the near future and the current uranium spot price over the weekend hit a 5 year high
James Packer’s companies ‘CPH’ became a substantial holder in May buying $1m worth over a couple of weeks
Prospects
Gemini – 30-40km to McArthur River with VTEM surveys already completed they have a number of targets to drill including the additional work around the 4^th drillhole
Tower – only 10-12km from Cigar Lake with VTEM surveys completed they will start drilling later this year
Clover – a large portion of land near both McAthhur River and Cigar Lake
Powerline - the company is extremely excited with this new prospect that the company believes has the best chance of discovering uranium in their portfolio
Cypress – small area with the company looking to expand its size
Uranium industry - currently at the beginning of anexpected bull market
Uranium spot price over the last week has hit a 7 year high ($40/lb) mainly due to SPROTT purchasing physical uranium as they expect uranium to appreciate in the near future
Since the Fukushima nuclear disaster in 2011 the spot price was at $80/lb (with earlier highs of $140/lb), Uranium experienced significant lows and governments avoiding anything involving uranium
Current supply deficit with 180m pounds of uranium consumed every year and due to mine closures as a result of covid and low spot prices there is only a supply of c.130m pounds of uranium
The tragedies over the last few decades are mainly a result of poor infrastructure and design - Uranium is quickly becoming at the forefront of leaders’ minds around the world as the best baseload power source for renewable energy with updated technology enabling safe facilities and plans for hundreds of reactors to be built in the coming years over the globe to assist with net zero emissions targets
Final thoughts
The results from the 4^th drillhole is only 2-3 weeks away with the drilling program refocused on this area
Tower drilling program expected in the coming months
Tight register with only 66m shares on issue (25m of those are escrowed)
Potentially has the best ground in a proven uranium area of any small cap uranium explorer

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Might be a bit longer of a wait until results too :/
92E Price at posting: 51.0¢ Sentiment: Buy Disclosure: Held
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0 Great analysis

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