Proactive Investors - IsoEnergy Limited (TSX-V:ISO), a Saskatchewan-based uranium exploration and development company, has strengthened its position in the sector through its recent merger with Consolidated Uranium.
CEO Tim Gabruch joined Proactive at PDAC 2024 to discuss the opportunities brought on by the merger and its 2024 exploration plans for its portfolio of projects.
Proactive: You’re a few months into your merger with Consolidated Uranium. Can you talk a bit about the strategic rationale behind that and your next moves?
TG: For us, it was game-changing. IsoEnergy, primarily a Saskatchewan-based company with significant Athabasca (TSX:ATH) Basin properties, merged with Consolidated Uranium at the end of December last year. This transition not only expanded our reach globally with new projects in the United States, Australia, and Canada but also positioned us as a major player in a market we're very bullish on.
What are some of the plans for 2024, considering you have significant projects and plans in both the US and the Athabasca?
We're currently drilling in northern Saskatchewan with a $4 million exploration plan for this winter. We're focusing on expansion drilling at Larocque near our Hurricane deposit and exploring our Hawk property, which is highly prospective. Additionally, we're moving forward with reopening the Tony M mine, a fully-permitted project from Consolidated Uranium. With a milling arrangement with Energy Fuels (TSX:EFR), we aim to become a smaller uranium producer in the very near term.
Given the strength of uranium prices and the market, can you provide insights into the market dynamics and the long-term fundamentals?
The fundamentals are incredibly strong. Uranium prices reaching $100 a pound is significant. This merger and asset growth come at an opportune time when supply is crucial, but demand is also surging due to global energy security and climate change initiatives. The world is recognizing the necessity of nuclear energy, requiring all the uranium bigger producers can supply, alongside new projects, which is where we’d come in.
Quotes have been edited for clarity and style