GTR - US uranium drilling on track for Q3-2024
Our US uranium Investment GTI Energy (ASX: GTR) is preparing to drill its uranium assets in the second half of this year.
This morning GTR confirmed that it was on track for:
- A drill program at its Lo Herma project in Q3-2024.
- Permit applications on track for submission at its Green Mountain project this month.
GTR has three main projects in Wyoming - the uranium capital for the USA.
Across the three projects, GTR has a total JORC uranium resource of 7.37m lbs.
We are Invested in GTR to see it drill out all three projects and increase the size of its JORC resources.
With demand for domestic uranium supply sources in the US, we think Wyoming will be at the centre stage of the industry just like it was for most of the last century.
GTR’s projects sit within ~160km of 7 permitted uranium processing facilities and ~16km away from Cameco’s Smith Ranch-Highland plant (the USA’s biggest ISR uranium production facility).
Our view is that as GTR’s resources get bigger the likelihood its projects generate external corporate interest increases, especially from the much bigger companies with processing plants in the region.
In the background, as uranium prices increase the attractiveness of “satellite deposits” becomes more attractive to those processing plant owners.
We recently watched a set of interviews where GTR’s Bruce Lane talks about this & GTR’s neighbour $737M Ur-Energy CEO mentions the potential appetite for satellite deposits in the region.
Below are the two interviews:
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What’s next for GTR?
Drill permitting for projects in Wyoming 🔄
We want to see GTR get all of the permitting in order for its 2024 drill program which the company expects to start in Q3-2024.
JORC resource upgrades 🔄
We want to see GTR increase its JORC resources (hopefully off the back of good drill results) - at the moment, GTR has guided for upgrades in Q4-2024.
