AllPennyStocks.com News: A Treasure Trove of Uranium Being Sought by Junior Explorer
Mississauga, ON -- (SBWire) -- 07/14/2020 --AllPennyStocks.com Media, Inc. (https://www.AllPennyStocks.com/) announces its latest article titled "A Treasure Trove of Uranium Being Sought by Junior Explorer."
Companies mentioned in this article include CanAlaska Uranium Ltd. (TSX-Venture:CVV) (OTCQB:CVVUF), Cameco (TSX:CCO) (NYSE:CCJ) and Denison Mines (TSX:DML) (NYSE American:DNN).
Uranium is one of only a handful of minerals that are being produced at an annual deficit to demand. The shortfall in uranium production relative to demand, primarily for nuclear reactors, is drawn from existing uranium stockpiles. Given ever-increasing demand for carbon-free electricity and the number or nuclear reactors planned or under construction worldwide, expectations are for uranium supply to remain in increasing high demand for the foreseeable future. Most recently, the COVID-19 pandemic has caused international supply chain disruptions through shuttering of key uranium production centers in Canada and Kazakhstan, Canadian producer Cameco has indicated that it will keep existing production shuttered to force market price increases. Uncovered future demand is already over 1,500 M lbs U3O8, against annual supply of 140 M lbs U3O8 highlighting the need for new sources of uranium to be identified and new mines developed.
Historically, the lion's share of uranium (~43%) production comes from Kazakhstan, where annual output in 2019 of 22,800 tU more than tripled production from Canada, the next biggest producer at 6,938 tU. State-owned uranium powerhouse Kaztomprom said it is following its plan to "flex down" production in Kazakhstan, calling for output to remain flat in 2020 compared to 2019, meaning there is potential opportunity for competition in the future to secure market-share in the supply shortfall.
The full version of this article can be found at: https://www.allpennystocks.com/specialreportsca/1410/a-treasure-trove-of-uranium-being-sought-by-junior-explorer
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AllPennyStocks.com Media, Inc.
Peter Szafranski -- President
Phone: (905) 361-5680
Websites: http://www.allpennystocks.com / http://www.bullishinvestor.com
Note: AllPennyStocks.com has been compensated five thousand dollars by a third-party, Frontier Consulting LLC. for its efforts in presenting the CVV profile on its web site and distributing it to its database of subscribers as well as other services. For a complete disclaimer, investors are encouraged to click here: https://www.allpennystocks.com/spotlight/56/CanAlaska-Uranium.
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View this press release online at: http://rwire.com/1296935