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Uranium Company Receives Final Federal Permits for U.S. Project
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What this milestone means for Azarga Uranium, the next steps for advancing its Dewey Burdock and near-term catalysts are addressed in a Haywood report.

In a Nov. 25 research note, Haywood analyst Colin Healey reported that Azarga Uranium Corp. (AZZ:TSX; AZZUF:OTCQB) received Environmental Protection Agency permits, the last of the required major federal permits, for its Dewey Burdock in situ recovery (ISR) uranium project in South Dakota.

"With full federal level permitting complete, Azarga significantly derisks its position as the next potential U.S. uranium producer and increases its attractiveness as a mergers and acquisitions tuck-in candidate as it puts major impediments and milestones behind it," Healey wrote.

Healey reviewed the next steps for Dewey Burdock. The first is Azarga receiving the state permits it needs, and that process may resume now that the federal permit process is complete. Already the South Dakota Department of Environmental & Natural Resources has recommended the state permits be approved.

Once Azarga has the requisite state permits, indicated Healey, Dewey Burdock will be fully permitted and, thus, Azarga can make a construction decision on it. Once permitting is done, Azarga will be an ideal acquisition target for any domestic ISR producers. Other factors making Dewey Burdock desirable are its high grade, less than US$32 million upfront capex and expected low cost production.

Healey noted that Azarga is well positioned to benefit from the upcoming catalysts. One is receipt of the state permits for Dewey Burdock. Another is completion of obtaining proof that Azarga's Gas Hills project in Wyoming is ISR amenable, "which we see as additional blue sky potential for the stock."

Haywood has a target price of CA$0.50 per share and a Buy rating on Azarga, which is one of its Top Picks in the uranium space.


1) Doresa Banning compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. She or members of her household own securities of the following companies mentioned in the article: None. She or members of her household are paid by the following companies mentioned in this article: None.
2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: Azarga Uranium. Click here for important disclosures about sponsor fees.
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Disclosures from Haywood Securities, Azarga Uranium, November 25, 2020

Analyst Certification: I, Colin Healey, hereby certify that the views expressed in this report (which includes the rating assigned to the issuer’s shares as well as the analytical substance and tone of the report) accurately reflect my/our personal views about the subject securities and the issuer. No part of my/our compensation was, is, or will be directly or indirectly related to the specific recommendations.

Important Disclosures
The following Important Disclosures apply for Azarga Uranium Corp.: vAs of the end of the month immediately preceding this publication either Haywood Securities, Inc., one of its subsidiaries, its officers or directors beneficially owned 1% or more of Azarga Uranium Corp. (AZZ-T). ▪ Haywood Securities, Inc. has reviewed lead projects of Azarga Uranium Corp. (AZZ-T) and a portion of the expenses for this travel have been reimbursed by the issuer.. ▪ Haywood Securities Inc. or one of its subsidiaries has received compensation for investment banking services from Azarga Uranium Corp. (AZZ-T) in the past 12 months.

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