Uranium ‘Shock’ | Ghana ‘s Xtra-Gold | EMX Royalty | Integra Resources **
Our trusted uranium CEOs gifted us the early heads-up a year ago: tech-cos seeking nuclear energy for their new-waves of software, hardware and who knows what else.
Uranium producer, explorer and physical trust shares are rising boldly Wednesday.
Various reports –– this one from Bloomberg is representative — discuss Amazon, Microsoft and (5 at last count) billionaires investing hundreds of millions in nuclear sources, plants and SMRs (portable nuke reactors).
Those trusted uranium CEOs this morning (see many earlier reports this year for our TCRs):
“Couple the big tech going full-on nuclear with a large portion of Kazakh production to head to China … . It was only a matter of time before most of Kazakh uranium went next door at a time when the West needs it secured. Shock factor is set to reset the uranium price to a new step-change zone.” Cory Beklyk of CanAlaska Uranium
“Without nuclear there is no AI.” — Bill Sheriff of enCore Energy (repeating his maxim)
[Our other CEOs: Marc Henderson of Laramide Resources; Jordan Trimble of Skyharbour Resources and Dev Randhawa of F3 Uranium. Their guidance this year and since the start of an approximately 3-year uranium run now is valuable.]
Uranium shares as a group, led by 11% gainer New Mexico, Australia and Kazakhstan explorer Laramide, LAM, which I own; 9% Athabasca Basin gainer CanAlaska CVV, which I own; and 8% gainers NexGen Energy NXE and CanAlaska partner Cameco CCJ, are rising even with little movement in the spot uranium price this week and this month. More uranium evidence at The Calandra Report here. And below.*
“Big tech could make SMRs possible pre-2030 — it’s a massive moment for the sector.” — Jordan Trimble, Skyharbour Resources
Ghana gold
Xtra-Gold Resources‘ relentless drilling (an additional 174 diamond core drill holes at 34,700 meters), all of it self financed, gets its Kibi gold deposit resource upgrade. XTGRF XTG
Xtra-Gold’s combined indicated and inferred resource is a touch greater than 1.2 million ounces of gold, with most of it in the higher indicated category.
Jim Longshore, CEO, tells me today-Wednesday that Xtra-Gold’s Kibi Gold Project will prove to be a multi-million ounce discovery. I believe we will see China gold miners surveying Xtra-Gold’s West Africa properties as that nation increases its mine holdings on the Africa continent.
What also makes XTG compelling is its steady cash from alluvial gold mining, its growing cash levels (above $11 million USD), its low market-cap of $75 million CAD and its tiny share count.
Xtra-Gold is our second-largest nat-resources holding after Ivanhoe Mines IVN and since 2009, our second longest-held mining investment after Ivanhoe.
Previously
“When financial asset returns are close to zero, the return on gold is 20 percent on average yearly. Compound that.” — Peter Palmedo, quantitative strategist and longtime gold fund manager
The cheap way in is Florida Canyon Gold; still, that arb-gap is slimming, George says. I do not own either but am looking for miners that have special situations such as Integra. Also: See The Calandra Report comments.