Latest news with #Ubaryon
AU Financial Review
4 days ago
- Business
- AU Financial Review
Australia's nuclear paradox
Let's start with the facts: Australia holds roughly one-third of the world's known uranium reserves. We are a top-three global exporter. Yet we've barred ourselves from using our own resources domestically, a political compromise established in the 1990s. In doing so, we've created a paradox: we help power nuclear reactors around the world, while refusing to consider the same path at home. Elsewhere, nuclear energy is undergoing a global reappraisal. In the United States, both major parties are backing uranium-supply expansion. Trump's advocacy has seen nuclear emerge as a key strategic pillar – part of a broader push for American energy independence and technological dominance. With the US still heavily reliant on imported uranium, the demand for secure, domestic sources is accelerating. This makes the current moment a breakout opportunity for exploration-stage companies operating in North America. Global Uranium and Enrichment (ASX: GUE) is one such company. We're focused on high-quality uranium projects across key US jurisdictions, including our flagship Pine Ridge Uranium Project in the Powder River Basin, Wyoming and the Tallahassee Uranium Project in Colorado. These assets are well positioned to benefit from the groundswell of bipartisan support for new domestic supply, advanced permitting frameworks and increasing market appetite for geopolitical security in the energy transition. And with the massive power demands coming from AI data centres, the need for energy is rapidly increasing. Uranium spot prices have more than doubled over the past four years, reaching multi-year highs in 2024. We expect further upside, driven by renewed utility contracting and strategic stockpiling by governments. While the momentum is global, Australia's absence from the discussion is glaring. The cost isn't just economic. It's technological, environmental and strategic. The opportunity cost of inaction includes lost GDP, missed infrastructure investment, and the offshoring of skills and intellectual property that Australia helped develop. We risk watching a generation of engineers, scientists and investors build the future overseas, because they aren't permitted to build it here. Nuclear may not solve the net zero challenge alone, but it deserves honest consideration alongside solar, wind, hydro and storage. China is doing this well, building out nuclear power in tandem with solar. Globally, companies are responding with innovation. Earlier this month, global uranium-enrichment company Urenco announced a significant investment in Ubaryon (in which GUE is the largest shareholder), a private Australian company developing next-generation enrichment technology. This investment is a positive step in the commercialisation of Ubaryon's cheaper and cleaner chemical-enrichment methods. Of course, nuclear remains politically fraught, but we should be clear-eyed. Decisions made now will shape Australia's energy, technology and investment landscape for decades. There's still time to catch up, but the window is closing and it's time to have a serious conversation about our resistance against nuclear energy. What is the immediate dollar cost we are reacting to in comparison to the future opportunity cost? We must move beyond outdated taboos, because if we don't act now, in 10 years we'll be explaining why we chose to sit on the sidelines.
Yahoo
05-08-2025
- Business
- Yahoo
Urenco and Ubaryon Complete Binding Agreement
Winnipeg, Manitoba--(Newsfile Corp. - August 5, 2025) - Snow Lake Resources Ltd., d/b/a Snow Lake Energy (NASDAQ: LITM) ("Snow Lake"), a uranium exploration and development company, announces that Ubaryon Pty Ltd ("Ubaryon") has confirmed the execution of a binding agreement (the "Agreement") with Urenco, following Ubaryon shareholder approval on July 16, 2025. Under the Agreement, the two companies will form a strategic partnership to progress the development of Ubaryon's next-generation uranium enrichment technology. Snow Lake is Global Uranium and Enrichment Limited's ("GUE") largest shareholder (19.9%), and GUE is Ubaryon's largest shareholder (21.9%). The investment by Urenco into Ubaryon represents significant third-party validation of Ubaryon's technology and long-term potential in the uranium enrichment sector. Urenco will commit AUD$5.0 million over the next three years along with technical expertise to support development milestones and accelerate their technology towards commercial readiness. Highlights Binding agreement between Urenco and Ubaryon successfully executed Urenco is a global uranium enrichment company supplying enrichment services and fuel cycle products to more than 50 customers in 20 countries Ubaryon is a private Australian company that owns 100% of a unique and innovative uranium enrichment technology GUE is the largest shareholder in Ubaryon (21.9%) and will remain the largest shareholder GUE will invest circa AUD$500,000 in Ubaryon to maintain its 21.9% pro rata ownership Ubaryon's technology has been independently assessed at a readiness level of TRL-4, which validates the development done to date and the strong platform for this new partnership CEO Remarks "We are delighted that Ubaryon and Urenco have now formed their strategic partnership to advance Ubaryon's uranium enrichment technology. We look forward with keen interest as this partnership develops," said Frank Wheatley, CEO of Snow Lake. "As GUE's cornerstone shareholder, we look forward to the many opportunities the Urenco - Ubaryon partnership unlocks." Comments on this strategic partnership from Ubaryon and Urenco are set out below1. Adam Blunn, Managing Director of Ubaryon said: "We are pleased to have established this relationship with Urenco. After a thorough process to develop this deal, we are confident that it offers a logical and practical path for technical development and commercialisation and will enable the best opportunity to create value. Urenco has deep experience in the technical, regulatory and market aspects of uranium enrichment and we are looking forward to growing the relationship and working with Urenco and its expert team." Sarah Forman, Head of Urenco's Strategy & Corporate Development function said: "Urenco and Ubaryon are pleased to announce the conclusion of formal agreements to form a strategic partnership around Ubaryon's uranium enrichment technology. Ubaryon's chemical isotope separation research and development on uranium will be funded by a AUD$5.0m investment from Urenco, that will also see Urenco take a minority shareholding in the company. The R&D programme will aim to progress the technology readiness level (TRL) of Ubaryon's unique oxide-to-oxide process. Ubaryon represents an exciting technology with potential for enriching uranium in chemical forms other than UF6, which could be complementary to Urenco's existing core businesses. We look forward to working with the Ubaryon team." Urenco Strategic Investment in Ubaryon Urenco is an international supplier of enrichment services with sustainability at the core of its business. Operating in the nuclear fuel supply chain for 50 years, Urenco has its head office near London, UK, and enrichment facilities in Germany, the Netherlands, the UK and the USA. Urenco's commitment, coming after detailed due diligence, validates GUE's historical investment in Ubaryon and significantly de-risks the business, thereby enhancing GUE's exposure to midstream nuclear fuel supply chains. Urenco supplies enrichment services and fuel cycle products to more than 50 customers in 20 countries2. Under the terms of the Agreement, Urenco will invest a total of AUD$5.0 million in Ubaryon over the next 3 years for a 13% interest in Ubaryon. This transaction will provide Urenco the ability to further increase its stake in Ubaryon through acquiring shares from existing shareholders and also provides a potential pathway for Urenco to secure the Ubaryon technology at a fair market value at some point in the future when the technology has been further advanced. Ubaryon Background Ubaryon is a private Australian company which is developing and commercializing a unique uranium enrichment technology based on the chemical separation of naturally occurring uranium isotopes. Ubaryon was established in 2015 after environmental testing identified a process anomaly, after which Ubaryon lodged a patent application over its Ubaryon Enrichment Technology in 2018. Australian Safeguards and Non-Proliferation Office ("ASNO") classified the intellectual property in September 2018. ASNO, and Defense Export Controls, now regulate all Ubaryon's technical disclosure. A significant feature of the Ubaryon Enrichment Technology is that it eliminates the need for conversion from uranium oxide or yellowcake (UO4 or U3O8) to gaseous uranium (UF6) and the need for deconversion from UF6 to uranium oxide. Removing conversion and deconversion simplifies the enrichment process and allows for additional flexibility in the nuclear fuel cell supply chain. Ubaryon Technology Rapidly Advancing - TRL 4 As a part of the due diligence process, Ubaryon received two independent technical reviews confirming that its technology is currently at Technology Readiness Level ("TRL") assessment level of TRL-4. TRL-4 shows that all critical components were successfully validated in a laboratory environment and supported by experimental results. Combined with the validation provided as a result of Urenco's due diligence, these independent assessments give confidence that Ubaryon's technology has a sound foundation for further development. About Snow Lake Resources Ltd. Snow Lake Resources Ltd., d/b/a Snow Lake Energy, is a Canadian mineral exploration company listed on Nasdaq:LITM, with a global portfolio of critical mineral and clean energy projects. The Pine Ridge Uranium project is an exploration stage project located in Wyoming, United States, and the Engo Valley Uranium Project is an exploration stage project located in the Skeleton Coast of Namibia. Snow Lake also holds a portfolio of additional exploration stage critical minerals projects located in Manitoba, as well as investments in a number of public companies with critical minerals assets. Learn more at Forward-Looking Statements: This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934 and the "safe harbor" provisions under the Private Securities Litigation Reform Act of 1995 that are subject to substantial risks and uncertainties. All statements, other than statements of historical fact, contained in this press release are forward-looking statements, including without limitation statements with regard to Snow Lake Resources Ltd. We base these forward-looking statements on our expectations and projections about future events, which we derive from the information currently available to us. Forward-looking statements contained in this press release may be identified by the use of words such as "anticipate," "believe," "contemplate," "could," "estimate," "expect," "intend," "seek," "may," "might," "plan," "potential," "predict," "project," "target," "aim," "should," "will," "would," or the negative of these words or other similar expressions, although not all forward-looking statements contain these words. Forward-looking statements are based on Snow Lake Resources Ltd.'s current expectations and are subject to inherent uncertainties, risks and assumptions that are difficult to predict. Further, certain forward-looking statements are based on assumptions as to future events that may not prove to be accurate. Some of these risks and uncertainties are described more fully in the section titled "Risk Factors" in our registration statements and annual reports filed with the Securities and Exchange Commission. Forward-looking statements contained in this announcement are made as of this date, and Snow Lake Resources Ltd. undertakes no duty to update such information except as required under applicable law. Contact and InformationFrank Wheatley, CEO Investor RelationsInvestors:ir@ Follow us on Social MediaTwitter: 1 To view the source version of this press release, please visit Sign in to access your portfolio
Yahoo
05-05-2025
- Business
- Yahoo
Urenco and Ubaryon to Form Strategic Partnership
Winnipeg, Manitoba--(Newsfile Corp. - May 5, 2025) - Snow Lake Resources Ltd., d/b/a Snow Lake Energy (NASDAQ: LITM) ("Snow Lake"), a uranium exploration and development company, advises that Ubaryon Pty Ltd ("Ubaryon") has provided a shareholder update to announce that it has signed a Term Sheet with Urenco Limited ("Urenco") to form a strategic partnership. This is a significant milestone which will materially assist the future commercialization of Ubaryon's uranium enrichment technology. Highlights Ubaryon achieves a major milestone forming a strategic partnership with Urenco to advance its Uranium Enrichment Technology Urenco is a global uranium enrichment company with enrichment facilities in Germany, the Netherlands, the UK and the USA Ubaryon is a private Australian company which owns 100% of a unique and innovative technology for uranium enrichment Urenco to invest A$5.0m to advance the technology over the next 3 years, providing strategic validation of Ubaryon's technology as well as significant resources and expertise to help de-risk steps towards commercialization Global Uranium and Enrichment Limited ("GUE") is the largest shareholder in Ubaryon (21.9%) and will remain the largest shareholder post the transaction Ubaryon independently assessed at technology readiness level of TRL-4 which highlights the development done to date and the strong platform for this new partnership to build on Snow Lake holds a cornerstone 19.9% interest in GUE, which in turn holds a 21.9% interest in Ubaryon Urenco Strategic Investment Ubaryon has signed a non-binding Term Sheet with Urenco, a global uranium enrichment company, to form a strategic partnership. The agreement was reached after a comprehensive process involving a targeted group of potential investors and partners, conducted within the controls of the security legislation that Ubaryon's technology is regulated by. Under the terms of the agreement, Urenco will invest a total of A$5.0 million in Ubaryon over the next 3 years for a 13% stake in Ubaryon. The Term Sheet is subject to the usual and reasonable conditions precedent for completion of an investment of this nature including receiving Ubaryon shareholder approval for the transaction, Foreign Investment Review Board approval and execution of binding transaction documentation. Urenco is an international supplier of enrichment services with sustainability at the core of its business. Operating in the nuclear fuel supply chain for 50 years, Urenco has its head office near London, UK, and enrichment facilities in Germany, the Netherlands, the UK and the USA. Urenco's commitment, coming after detailed due diligence, validates GUE's historical investment in Ubaryon and significantly de-risks the business, thereby enhancing GUE's exposure to midstream nuclear fuel supply chains. Ubaryon has committed to working exclusively with Urenco to complete the transaction which will also provide Urenco the ability to potentially increase its stake in Ubaryon through acquiring shares from existing shareholders and a potential pathway to secure the Ubaryon technology at a fair market value at some point in the future when the technology has been further advanced. Ubaryon stated in the shareholder update, that the Ubaryon board has been impressed by the diligent and professional way in which Urenco has engaged in the due diligence process and that it is clear that there are significant synergies between companies. Urenco's deep technical, regulatory, market expertise, resources and strategic position in the nuclear fuel supply chain industry will make them the ideal strategic shareholder for Ubaryon. Ubaryon's board considers that Urenco's investment will also significantly assist the future commercialization of Ubaryon's technology to the extent that no other strategic investor could. Ubaryon will request all shareholders (with GUE being the largest shareholder) to provide a waiver of pre-emptive rights to purchase shares to allow the transaction with Urenco to proceed and will also schedule a Ubaryon shareholder meeting to approve the transaction and its terms and conditions. It should be noted that, as a binding agreement has not yet been signed, there is no certainty that the transaction will complete within a specific timeframe, nor that it will complete at all. Ubaryon Technology Rapidly Advancing - TRL 4 As a part of the due diligence process, Ubaryon has received two independent technical reviews confirming the technology is currently at Technology Readiness Level ("TRL") assessment level of TRL-4. The TRL index is a globally accepted benchmarking tool for tracking progress in the development of a new technology through the early-stage research (TRL-1) to technologies ready for scaled commercial operations (TRL-9). TRL-4 shows that all critical components were successfully validated in a laboratory environment and supported by experimental results. Combined with the validation provided as a result of Urenco's due diligence, these independent assessments give confidence that Ubaryon's technology has a sound foundation for further development. As a point of comparison, Global Laser Enrichment1 ("GLE") which is the vehicle of the SILEX uranium technology (jointly owned by SILEX Systems Limited 51% and Cameco Corporation 49%), is aiming for completing a commercial-scale pilot demonstration to provide TRL-6 of the SILEX technology around mid-2025. Ubaryon Background Ubaryon is a private Australian company which is developing and commercializing a unique uranium enrichment technology based on the chemical separation of naturally occurring uranium isotopes. Ubaryon was established in 2015 after environmental testing identified a process anomaly, after which Ubaryon lodged a patent application over its Ubaryon Enrichment Technology in 2018. Australian Safeguards and Non-Proliferation Office ("ASNO") classified the intellectual property in September 2018. ASNO and Defense Export Controls now regulate all Ubaryon's technical disclosure. A significant feature of the Ubaryon Enrichment Technology is that it eliminates the need for conversion from uranium oxide or yellowcake (UO4 or U3O8) to gaseous uranium (UF6) and the need for deconversion from UF6 to uranium oxide. Removing conversion and deconversion simplifies the enrichment process and allows for additional flexibility in the nuclear fuel cell supply chain. About Snow Lake Resources Ltd. Snow Lake Resources Ltd., d/b/a Snow Lake Energy, is a Canadian mineral exploration company listed on (NASDAQ: LITM), with a global portfolio of critical mineral and clean energy projects. The Pine Ridge Uranium project is an exploration stage project located in Wyoming, United States, and the Engo Valley Uranium Project is an exploration stage project located in the Skeleton Coast of Namibia. Snow Lake also holds a portfolio of additional exploration stage critical minerals projects located in Manitoba. Learn more at Forward-Looking Statements: This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934 and the "safe harbor" provisions under the Private Securities Litigation Reform Act of 1995 that are subject to substantial risks and uncertainties. All statements, other than statements of historical fact, contained in this press release are forward-looking statements, including without limitation statements with regard to Snow Lake Resources Ltd.. We base these forward-looking statements on our expectations and projections about future events, which we derive from the information currently available to us. Forward-Looking statements contained in this press release may be identified by the use of words such as "anticipate," "believe," "contemplate," "could," "estimate," "expect," "intend," "seek," "may," "might," "plan," "potential," "predict," "project," "target," "aim," "should," "will," "would," or the negative of these words or other similar expressions, although not all forward-looking statements contain these words. Forward-Looking statements are based on Snow Lake Resources Ltd.'s current expectations and are subject to inherent uncertainties, risks and assumptions that are difficult to predict. Further, certain forward-looking statements are based on assumptions as to future events that may not prove to be accurate. Some of these risks and uncertainties are described more fully in the section titled "Risk Factors" in our registration statements and annual reports filed with the Securities and Exchange Commission. Forward-Looking statements contained in this announcement are made as of this date, and Snow Lake Resources Ltd. undertakes no duty to update such information except as required under applicable law. Contact and InformationFrank Wheatley, CEO Investor RelationsInvestors:ir@ Follow us on Social MediaTwitter: 1 To view the source version of this press release, please visit
Yahoo
10-04-2025
- Business
- Yahoo
Snow Lake Updates on the Joint Venture with Global Uranium and Enrichment Limited on the Pine Ridge Uranium Project
Winnipeg, Manitoba--(Newsfile Corp. - April 10, 2025) - Snow Lake Resources Ltd., d/b/a Snow Lake Energy (NASDAQ: LITM) ("Snow Lake"), a uranium exploration and development company, provides an update on the 50 / 50 joint venture with Global Uranium and Enrichment Limited ("GUE") on the Pine Ridge Uranium Project ("Pine Ridge") in Wyoming's Powder River Basin. Highlights GUE has staked additional mineral claims around Pine Ridge, bringing the total project footprint to nearly 20,000 acres of surface access and mineral rights GUE has called an extraordinary general meeting for April 14, 2025 to obtain approval from its shareholders for it's A$10 million equity raise as part of the acquisition of Pine Ridge Snow Lake has committed to invest circa A$5.8 million, for a 19.99% interest in GUE, as part of the equity raise Ubaryon continues to progress with a number of interested strategic parties towards securing funding for the ongoing development of its business CEO Remarks "We are extremely pleased with Global Uranium and Enrichment Limited's ("GUE") ASX Announcement of April 3, 20251, announcing that GUE continues to stake additional mining claims around Pine Ridge in order to increase the project footprint," said Frank Wheatley, CEO of Snow Lake. "This proactive approach of GUE to enhance the footprint of Pine Ridge, as well as commencing the preparation of a drill program for Pine Ridge in 2025, reinforces our belief that our joint venture with GUE on Pine Ridge holds the potential to create substantial value for our shareholders." Ubaryon Ubaryon is a private Australian company which is developing and commercialising a unique uranium enrichment technology (the "Ubaryon Enrichment Technology") based on the chemical separation of naturally occurring uranium isotopes. GUE is the largest shareholder of Ubaryon with a 21.9% shareholding. Ubaryon owns 100% of the Ubaryon Enrichment Technology. As GUE announced on February 12, 20252, Ubaryon updated its shareholders regarding commercial interest from potential major strategic partners towards securing funding for ongoing development for the business. GUE advises that this process continues to progress well with a number of interested parties and is expected to be announced within the first half of 2025. Pine Ridge Uranium Project As announced by each of Snow Lake and GUE on March 12, 20253, Snow Lake and GUE entered into a joint venture agreement (the "JVA") for the acquisition of 100% of Pine Ridge in Wyoming's Powder River Basin. GUE announced on April 3, 20254 that that through the JVA, the GUE management team is staking further claims surrounding Pine Ridge, which will nearly double the footprint of the current project holdings. The current project holdings include nearly 20,000 acres of surface access and mineral rights. GUE has also commenced the preparation of a drilling program including permitting and tendering drill contractors. As part of the acquisition, GUE received binding commitments to raise A$10.0 million (before costs) through a conditional placement to institutional and sophisticated investors (the "Placement"). Included in the Placement, Snow Lake has agreed to invest circa A$5.8 million for a 19.9% shareholding in GUE. The Placement is subject to GUE shareholder approval to be sought at an Extraordinary General Meeting to be held on April 14, 2025 and Snow Lake completing due diligence. To allow Snow Lake to finalise its due diligence, GUE has agreed to extend Snow Lake's due diligence period until April 10, 2025. About Snow Lake Resources Ltd. Snow Lake Resources Ltd., d/b/a Snow Lake Energy, is a Canadian mineral exploration company listed on (NASDAQ: LITM), with a global portfolio of clean energy mineral projects comprised of two uranium projects and two hard rock lithium projects. The Engo Valley Uranium Project is an exploration stage project located in the Skeleton Coast of Namibia, and the Black Lake Uranium Project is an exploration stage project located in the Athabasca Basin, Saskatchewan. The Shatford Lake Project is an exploration stage project located adjacent to the Tanco lithium, cesium and tantalum mine in Southern Manitoba, and the Snow Lake Lithium™ Project is an exploration stage project located in the Snow Lake region of Northern Manitoba. Learn more at Forward-Looking Statements: This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934 and the "safe harbor" provisions under the Private Securities Litigation Reform Act of 1995 that are subject to substantial risks and uncertainties. All statements, other than statements of historical fact, contained in this press release are forward-looking statements, including without limitation statements with regard to Snow Lake Resources Ltd.. We base these forward-looking statements on our expectations and projections about future events, which we derive from the information currently available to us. Forward-Looking statements contained in this press release may be identified by the use of words such as "anticipate," "believe," "contemplate," "could," "estimate," "expect," "intend," "seek," "may," "might," "plan," "potential," "predict," "project," "target," "aim," "should," "will," "would," or the negative of these words or other similar expressions, although not all forward-looking statements contain these words. Forward-Looking statements are based on Snow Lake Resources Ltd.'s current expectations and are subject to inherent uncertainties, risks and assumptions that are difficult to predict. Further, certain forward-looking statements are based on assumptions as to future events that may not prove to be accurate. Some of these risks and uncertainties are described more fully in the section titled "Risk Factors" in our registration statements and annual reports filed with the Securities and Exchange Commission. Forward-Looking statements contained in this announcement are made as of this date, and Snow Lake Resources Ltd. undertakes no duty to update such information except as required under applicable law. Contact and InformationFrank Wheatley, CEO Investor RelationsInvestors:ir@ Follow us on Social MediaTwitter: 1 To view the source version of this press release, please visit Sign in to access your portfolio
