Fission Uranium Corp - FCUUF stock
Overview[edit]
Fission Uranium Corp (OTC: FCUUF, TSX: FCU) was established in 2013 in Canada. The company is involved in the exploration and development of Uranium. The primary asset of Fission Uranium is the Patterson Lake South (PLS) Project which hosts the Triple R Uranium deposit. Located in the renowned Athabasca Basin uranium district, the Triple R deposit is well-known for hosting the highest-grade uranium that is available at shallow depth. Based on the pre-feasibility analysis conducted by the experienced team at Fission Uranium, the Triple R has the potential to be among the lowest operating cost uranium mines in the world.[1]
Fission Uranium Corp is listed on multiple exchanges such as TSX (Canada), OCTQX (USA), and Frankfurt (Germany). The company is currently in the exploration stage and has not generated any revenue.
Projects[edit]
Triple R deposit under PLS project is the only investment of the company. The economic analysis shows an after-tax internal rate of return of 25%, and an after-tax NPV (8% post-tax discount rate) of CAD 702 million. Demand for high-grade uranium is continually on the rise due to the focus on green energy. This bodes well for Fission Uranium Corp. Some additional positives of the PLS project are short construction period of 3 years, lowest uranium costs, stable government, and minimal environmental impact. Based on the timelines provided by the company, the construction for the project would begin in 2026 with completion in 2029.
Drilling at the PLS project is expected to start soon, with drilling rigs already on site. Drilling will test the Saloon and Holster targets.[2]
Leadership[edit]
The leadership team at Fission Uranium Corp includes Ross McElroy (CEO, President, and Director), Gary Haywood (VP Project Development), Chris Sammartino (CFO), Sam Hartmann (Chief Geologist), and Ray Ashley (VP Exploration). Mr McElroy has over 35 years of experience in the mining industry along with playing a significant role in 4 major uranium discoveries in the Athabasca Basin. The entire management and technical team at Fission Uranium are highly experienced professionals in the mining industry with specific expertise in their domains.[3]
On Feb 24 2022, Fission Uranium Corp announced the addition of three key, full-time team members. The new additions to the team are as follows: Aaron MacDonell (Environmental Manager), Sam Hartmann (Chief Geologist), and Richard Elkington (Operations Manager). Gary Haywood, VP Operations for Fission, commented, "Filling these three crucial roles with such high calibre personnel is significant and perfectly timed win for the Company. All three team members are experts in their field and their knowledge and skillsets will enable Fission to continue advancing the PLS project to the benefit of our shareholders, our local communities, and of course the uranium sector."[4]
Accolades[edit]
On Jan 24 2022, Fission Uranium Corp (OTC: FCUUF, TSX: FCU) announced that it has been named to the 2022 OTCQX® Best 50. The OTCQX Best 50 is an annual ranking of the top 50 companies traded on the OTCQX market that is calculated based on returns and volume. Companies that form a part of the 2022 OTCQX Best 50 were selected based on their performance in 2021. Ross McElroy, President, CEO, and Chief Geologist for Fission, commented, “Fission continues to make tremendous progress at our PLS project – developing an asset that has the potential to be one of the lowest operating cost uranium mines in the world. The team is working hard to increase shareholder value and we are delighted to have been recognized by the OTCQX for our market performance.”[5]
- ↑ fissionuranium.com. About - Overview. Retrieved on 1/20/2024.
- ↑ The Globe and Mail. Fission to Commence Drilling at PLS , High-Grade Uranium Project. January 17, 2024.
- ↑ fissionuranium.com. About - Technical Team. Retrieved on 1/20/2024.
- ↑ Newswire. Fission Expands Operations and Technical Team. February 24, 2022.
- ↑ Newswire. Fission Uranium Named to 2022 OTCQX Best 50. January 24, 2022.
OTC Symbol: FCUUF | OTC Tier: OTCQX International
