McElroy is an award-winning geologist with over 30 years of experience in the mining industry. In September 2020, Fission Uranium appointed Ross McElroy as Chief Executive Officer of the company. With straightforward permitting processes and a skilled management and operations team, the project is currently advancing towards feasibility. According to the company’s underground mine plan, construction time hovers around three years with bottom quartile OPEX costs of US$7.18 per pound of uranium. The flagship PLS uranium project is the Basin’s only high-grade, undeveloped project where the high grade starts near surface. Operating out of this unique position places Fission Uranium as a competitive player in the green future. The country is known for uranium grades reported at 10 to 20 times the global average, and its mining-friendly government and rich uranium deposits make the Athabasca Basin one of the most prospective mineral basins.
In 2019, Canada supplied 13.2 percent of the world’s uranium. Significantly, the company’s prefeasibility study shows the potential for the Triple R to be one of the lowest cost operating uranium mines in the world. Saskatchewan is consistently ranked amongst the top mining investment jurisdictions on the world. The Triple R uranium deposit, which is part of the Patterson Lake South (PLS) project, is located in a safe, stable jurisdiction with a long history, beginning in 1949 history of uranium mining.
This all means that uranium resource companies are an important part of a carbon-free energy future.įission Uranium (TSX:FCU,OTCQX:FCUUF) is developing the high-grade Triple R uranium deposit in Saskatchewan’s renowned Athabasca Basin uranium district. The most recent World Nuclear Association’s Fuel Report showed a 26 percent increase in uranium demand over the next decade, thanks to new reactors coming online and it’s important to note that there are a limited number of suppliers to fill that demand. In fact, positive uranium demands positioned this metal as one of the best-performing commodities of 2020, climbing by up to 37 percent at its peak. The world’s energy requirements are increasing, and this energy growth is set to continue over the coming decades, as is the global movement to decarbonize power generation.Īlong with renewable energy, nuclear energy is a front runner for the decarbonization of electricity, thanks to its minimal carbon footprint and low operating costs.
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