GTR advances scoping study for US uranium project

Published 30-JAN-2025 13:57 P.M.

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Our US uranium Investment GTI Energy (ASX: GTR) is making progress on a scoping study for one of its three projects in Wyoming.

GTR across its three projects has a 10.23m lb uranium JORC resource.

The current focus is on putting out a scoping study for its Lo Herma project.

Lo Herma is where GTR holds the majority of its resources (8.57m lbs) and its the project that is closest to processing infrastructure.

Most importantly GTR’s project sits ~16km away from Cameco’s Smith Ranch-Highland plant (the USA’s biggest ISR uranium production facility).

Proximity to existing infrastructure is important because it reduces the amount of capital required to get a project into production.

Hypothetically, GTR could just start mining and sending its uranium off to Cameco’s facility for toll treating without the need to develop a whole new processing plant.

It could also just produce pre-cursor materials that someone like a Cameco could buy from GTR.

We are looking forward to the scoping study showing us which scenario maximises the value of GTR’s projects from an economics perspective.

Here is where GTR’s project is and where the USA’s biggest ISR uranium plant is:

Today’s news:

Today’s update from GTR is mostly technical work that will eventually feed into the scoping study.

GTR confirmed that it had drilled two water wells and that a third would be drilled in the coming weeks, with the primary objective being to test and see if GTR’s project is suitable for ISR mining.

GTR expects the rest of the drilling to be completed in the coming week so we should get some results published from this program relatively soon.

US uranium macro is pretty strong at the moment:

GTR’s share price is trading near 52 week lows, which is surprising to us considering the progress the company has made over the last 12 months or so.

AND especially considering the recent developments around the US uranium macro thematic.

For anyone who missed it, US President Donald Trump, on his first day in office signed the executive order: Unleashing American Energy.

In the executive order he made mention of the US critical minerals list which needed to be updated and specifically mentioned “uranium” as a suggestion for inclusion in that list.

Despite that news, we haven't really seen a push into US uranium names just yet.

But IF what Trump mentioned happens, we think the macro thematic could all of a sudden become sought after by investors again.

Hopefully, any macro strength coincides with GTR putting out a few material announcements so the market (especially the scoping study at its Lo Herma project).