“If you’re hunting for a uranium deposit, this is what you need to see … we continue to be well within a practical discovery timeline.” (Azincourt Energy CEO, Alex Klenman)
If you believe in the future of renewable energy, then you are going to love this interview with Azincourt Energy because CEO Alex Klenman has been forecasting the rising price of Uranium ever since we started interviewing him. The price has moved from around $50/lb to over $100/lb and now stands at $87/lb.
This surge in uranium prices can be attributed to several factors. Firstly, after a decade-long slump, uranium prices are on the rise thanks to a global shift in support for nuclear energy and subsequent rising demand.
Additionally, uranium funds are raising hundreds of millions of dollars to buy uranium.
MONSTROUS GROWTH OF ARTIFICIAL INTELLIGENCE DRIVING DEMAND FOR NUCLEAR
However, the biggest “X Factor” that very few anticipated just 2 years ago, is the massive demand for energy being created by Artificial Intelligence.
The staggering growth of AI is driving demand for the power that only uranium and nuclear energy can deliver.
How staggering?
1. Over the past decade, the amount of computing power used to develop AI models has amplified by a factor of 10 billion (yes BILLION, that is not a typo)
2. And it isn’t stopping, with the amount of computing power needed to train AI is now doubling every six months.
EVEN MICROSOFT IS PLANNING FOR A NUCLEAR FUTURE
To meet the energy demands of AI, companies like Microsoft are hiring nuclear technology program managers to implement global Small Modular Reactor (SMR) and microreactor energy strategies.
LOCATED AMONG THE WORLD’S LEADING SOURCE OF HIGH-GRADE URANIUM
Azincourt Energy controls a majority 86.1% interest in the 20,000+ hectare East Preston Uranium project, located in the Athabasca Basin, Saskatchewan, which is the world’s leading source of high-grade uranium and currently supplies over 20% of the world’s uranium.
The company has invested over CDN$3 million in exploration expenditures on the East Preston Project over the past three years. CEO Alex Klenman emphasizes that significant uranium discoveries in the Athabasca Basin, such as McArthur River, Key Lake, and Millennium, were primarily the result of drill testing of strong alteration zones related to conductor features, indicating promising prospects for East Preston.
2024 DRILL PROGRAM HAS BEGUN
Mobilization of equipment and crew has begun, with a focus on up to 1,500 meters of drilling across five holes. Trevor Perkins, VP Exploration, reiterates the significance of the 2024 drill targets, stating “Following up the clay alteration in the K- and H- Zones is a high priority. This alteration is what would be expected where a uranium deposit is present.”
AT THE FOREFRONT OF UNCOVERING THE NEXT FRONTIER OF URANIUM RESOURCES
With a strategic focus on high-potential targets and a comprehensive exploration approach, Azincourt Energy has the potential to uncover substantial uranium resources in the Athabasca Basin. Watch this powerful interview with Azincourt Energy CEO Alex Klenman to learn more.
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