Ground picked up next to $18BN Cameco’s uranium plant

Our U.S. based uranium Investment GTI Energy (ASX: GTR) just picked up more ground in Wyoming - the uranium capital of the USA.

GTR has staked ~8,000 acres of ground within ~16km of $18Bn-capped Cameco’s ISR uranium production plant – the largest production site in Wyoming.

The new ground also sits within ~80km of 5 permitted ISR uranium production facilities.

The importance of the proximity to this uranium infrastructure is that any new discovery that’s converted into a JORC resource can be run through the existing plants, meaning GTR wouldn’t have to spend billions of dollars developing its own.

At this stage, GTR hasn't laid out an exploration plan for the new project areas.

What’s next for GTR?

We are now looking forward to GTR delivering its maiden resource estimate.

We see this as the next potential catalyst for the company, especially considering the consolidation of projects with resource estimates in Wyoming by GTR’s US$2.2BN neighbour Uranium Energy Corporation.

To read more about the consolidation activities near GTR’s projects check out our following note: GTR’s regional neighbour buying up USA uranium projects.