Purepoint Uranium (TSXV: PTU) plans an aggressive exploration strategy in the Athabasca Basin, host to the world’s highest-grade uranium deposits, an industry event heard in London.
The company spent US$10 million this year on projects like Hook Lake. Purepoint holds a 21% stake there, alongside Cameco (TSX: CCO; NYSE: CCJ) and French uranium miner Orano. The project sits near high-grade deposits, including NexGen Energy’s (TSX: NXE; NYSE: NXE; ASX: NXG)250-million-lb. Rook I discovery.
“Our joint ventures with major players ensure steady funding without diluting shareholders while giving us operational control,” Frostad told The Northern Miner’s International Metals Symposium on Dec. 2.
As nuclear energy demand rises, Frostad noted supply issues. Kazakhstan’s output is shifting towards China and Russia. Niger’s supply is disrupted after a coup. This leaves Canada and Australia to fill the gap, and in that context Frostad called the Athabasca Basin “the place to be.” That highlights Purepoint’s readiness to capitalize on rising prices and demand.
Watch the full interview below with adviser Andrew Cheatle:
JV videos are sponsored content in arrangement with The Northern Miner.
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