New Policies Could Boost Uranium Mining in U.S.

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Recently introduced governmental initiatives regarding the U.S. uranium sector already have increased domestic momentum and renewed optimism, purported HoldCo Markets in a May 28 research report. This is not just a U.S. phenomenon, Crux Investor pointed out, but, rather, a global one.

"We anticipate uranium stocks, both large and small, to benefit from changing U.S. nuclear policy," wrote David Talbot, head of equity research at Red Cloud Securities, in a May 23 Uranium Sector Update.

President Donald Trump signed a series of U.S. presidential executive orders aimed at quadrupling nuclear energy output, to 400 gigawatts from 100, by 2050. The mandates call for hastening the nuclear reactor design evaluation process, building nuclear reactors on federally owned land and deciding on reactor license applications within 18 months and supporting the domestic nuclear industrial base, Michael Kratsios, assistant to the president for science & technology, wrote recently.

Also, the White House added two uranium projects to the federal permitting dashboard for streamlined permitting under the FAST-41 funding and authorization bill, HoldCo reported. They are Laramide Resources Ltd.'s (LAM:TSX; LAM:ASX) La Jara Mesa and Strathmore Resources Ltd.'s Roca Honda, both in New Mexico.

"We anticipate uranium stocks, both large and small, to benefit from changing U.S. nuclear policy." — David Talbot, head of equity research at Red Cloud Securities

Further, the Trump Administration recently approved Anfield Energy's (AEX:TSXV; ANLDF:OTCQB; 0AD:FSE) Velvet-Wood uranium mining project in Utah after an accelerated 14-day environmental review, part of a new federal initiative to fast-track mining and energy project permitting, noted Ron Struthers in a June 1 edition of Struthers Resource Stock Research.

"Such studies typically take years because of the large potential environmental consequences of uranium mining," Struthers wrote.

According to HoldCo, recent permitting accomplishments have encouraged uranium mining companies, advanced stage and fully permitted, to take action. For instance, Isoenergy Ltd. (ISOU:NYSE.American) decided on May 27 to launch work programs at its past-producing Tony M uranium mine, also in Utah.

Utah has committed to doubling its reliable energy production over the next 10 years and is looking to expand its nuclear infrastructure, all part of its Operation Gigawatt strategy. Recently in this regard, the state partnered with Valar Atomics to complete a new nuclear test reactor at the San Rafael Energy Research Center this year. The state signed a memo of understanding with Intermountain Power Agency and EnergySolutions to locate an optimal site for a nuclear power plant.

Domestic Production Lacking

The U.S. uranium market's fundamentals indicate long-term strength, Talbot wrote in a May 7 research report.

Domestic demand for uranium is surging, driven mostly by data centers needing massive amounts of energy, reported Reuters on May 27. Large tech companies, like Amazon, Google, Meta and Microsoft, are turning to nuclear power to provide it.

"With current uranium consumption of approximately 50 million pounds (50 Mlb) annually and goals to potentially triple nuclear capacity, the U.S. could require an additional 75 Mlb of uranium supply, even accounting for increased domestic production from a current base of essentially zero," explained Crux Investor in a May 30 article.

Domestic production is about 150,000 pounds per month, addressing less than 5% of demand, Discovery Alert reported on June 2. Production comes from a few key states, including Utah, Wyoming and Arizona. Reuters wrote that Trump's orders regarding domestic nuclear energy could reinvigorate uranium production at home to meet the burgeoning demand.

As for the spot uranium price, it fell briefly this year to $64.30 per pound ($64.30/lb) and now is about $71.85/lb.

"Analysts see further upside, with incentive prices for new uranium production estimated above $100/lb," Reuters reported.

Here are some uranium mining companies that could benefit from the effects of Trump's push for a nuclear renaissance in the States.

Western Uranium & Vanadium Corp.

Based in Ontario, Canada, Western Uranium & Vanadium Corp. (WUC:CSE; WSTRF:OTCQX) is producing and stockpiling uranium at four of the six mines comprising its Sunday Mine Complex (SMC) in Colorado: Sunday, Carnation, St. Jude and West Sunday. It aims to reach a 500 tons per day production rate at Sunday, reported HoldCo Markets, which would yield about 3,000 pounds of uranium daily. This would equate to annualized run rates of 1,000,000 pounds (1 Mlb) of uranium and 6 Mlb of vanadium.

Further out, the company intends to develop the San Rafael complex as a second uranium production site and process the ore in house at the proposed Maverick processing plant, in Utah.

Recently, Western agreed to supply Energy Fuels Inc. (EFR:TSX; UUUU:NYSE.American) with up to 25,000 short tons of uranium-bearing ore for its White Mesa Mill in Utah, according to a news release. Deliveries were to start in May, with ore coming from existing stockpiles at its SMC. White Mesa, the country's only operating conventional uranium mill, has lots of unused capacity.

"We continue to see Western Uranium & Vanadium as a company very much at the crossroads with plenty of ambitious plans on the horizon, however in need of some concrete development milestones in the near term," HoldCo wrote. "These concrete development plans include actual economic projections for the proposed Maverick minerals processing plant, a possible preliminary economic assessment and some concrete resource growth at the SMC."

HoldCo has a target price on the company suggesting a 31% return from its current share price.

According to Refinitiv, ownership of Western Uranium & Vanadium includes eight strategic entities with 14.24%. The Top 3 are Director, President and Chief Executive Officer (CEO) George Glasier with 8.1%, Brooke Benenson with 5.01% and Sahar Benenson with 0.81%.

Eight institutional investors hold 23.49%. The Top 3 are Alps Advisors Inc. with 11.66%, Mirae Asset Global Investments (USA) LLC with 5.5% and MMCAP Asset Management with 4.26%.

The rest is in retail.

The Canadian uranium/vanadium producer has 59.39 million (59.59M) outstanding shares and 50.93M free float traded shares. Its market cap is CA$44.3 million. Its 52-week range is CA$0.77–2.34 per share.

Pegasus Energy Resources Inc.

Pegasi Energy Resources Corp. (OTCQB:PGSI) is a British Columbia (B.C.)-based uranium explorer who is about to start a maiden drill program at the Jupiter project in Utah. With completion of this work, Pegasus will increase its 75% ownership of Jupiter to 100%. 

"The planned 2025 drilling program represents the most significant campaign undertaken on site since the mid-1970s," HoldCo wrote.

Three kilometers south of Jupiter is Pegasus' 100%-owned Energy Sands project. This project and Jupiter are adjacent to Western Uranium & Vanadium's San Rafael project and within trucking distance of Energy Fuels' White Mesa Mill.

According to HoldCo, each of Pegasus' projects is highly prospective but together, "make the investment case into Pegasus Resources compelling on a risk-reward standpoint."

The firm's target price implies 177% upside from the current share price.

As for ownership, Refinitiv reports that five strategic entities own 7.53% of Pegasus. The Top 3 are Director Noah Komavli with 4.65%, CEO and President Christian Timmins with 2.39% and Tyro Industries Corp. with 0.24%. The rest is in retail. There are no institutional investors at this time.

Pegasus has 35.3M outstanding shares and 3.64M free float traded shares. Its market cap is CA$2.43M. Its 52-week range is CA$0.055–0.21 per share.

Skyharbour Resources Ltd.

Skyharbour Resources Ltd. (SYH:TSX.V; SYHBF:OTCQX; SC1P:FSE), based in Vancouver, B.C., has a portfolio of 36 uranium exploration and earlier-stage projects spanning 614,000 hectares in Canada's Athabasca Basin.

Most recently, one of Skyharbour's partner companies, Mustang Energy Corp. (MEC:CSE; MECPF:OTC; 92T:FRA), started a 2025 field exploration program at the 914W uranium project, a news release announced. Surface prospecting work will be done, including detailed rock and soil sampling, to identify zones of mineralization and alteration in target areas.

Jeff Clark of The Gold Advisor is bullish on Skyharbour and has an overweight position in it. 

"Simply put, Skyharbour Resources is a well-positioned uranium discovery and delineation story," Clark wrote on May 15. "It's [a] Buy right now, what you'd want to do before assay results start pouring in."

Red Cloud's Talbot also has a Buy on Skyharbour. He has a target price implying a 72% return from where it is currently trading.

Management, insiders, and close business associates own approximately 5% of Skyharbour.

According to Reuters, President and CEO Jordan Trimble owns 1.5%, and Director David Cates owns 0.65%. Institutional, corporate, and strategic investors own approximately 55% of the company.

Denison Mines owns 6.3%, Rio Tinto owns 2%, Extract Advisors LLC owns 9.6%, Alps Advisors Inc. owns 9.1%, Mirae Asset Global Investments (U.S.A) L.L.C. owns 5.68%, and Incrementum AG owns 1.05%, Reuters reported.

Skyharbour has 204.46M outstanding shares and 199.65M free float traded shares. Its market cap is CA$67.5M. Its 52-week range is CA$0.28–0.51 per share.