1) With many #Uranium Explorers now actively drilling in #Canada's #AthabascaBasin⛏️ perhaps it's time⏳ for a thread on how to interpret drill data coming soon🔜 in news releases.📰 Misunderstanding data can lead to premature exit... selling when ya shoulda been buying.🛒 🥴
2) #Uranium explorers drill rock core samples looking for signs of #U3O8 bearing ore.🧐 Rarely do they ever hit high-grade on first few attempts.😟 Geologists first look for visual signs in the core samples... here's description from pre-discovery 2013 drilling at Arrow (Rook 1):
3) Visual inspection of core samples is just 1 of many steps taken to see if they found #uranium. Presence of radioactivity is best indicator so all cores are scanned with an instrument called a Hand-held Scintillometer to produce "Scint" CPS tables for cores from each hole.🌡️
4) After an exploration hole has been drilled & all core samples recovered, an instrument called a Downhole Gamma Probe is lowered to the bottom & recovered, constantly measuring #uranium radioactivity in a 360 degree sweep to produce a complete Gamma Log Profile for each hole.✍️
5) Here's the Gamma Log Profile for Fission #Uranium $FCU's world-record drill hole PLS17-METC that contained a continuous 30-storey tall set of high-grade U core sections, 108m at Average Grade of 8.46% #U3O8. Best mineralized hole drilled worldwide for any mined metal in 2018🏆
6) Boxes of #uranium cores are then shipped off to a lab where they are assayed to determine exact % Grade #U3O8 (& other minerals like #Gold) in 1/2 metre intervals. This leads to a month or 2 of waiting by investors to see actual grades. Tables are then published for each hole.
7) Other data often provided includes Maps & overlays of surface and airborne survey data, or perhaps most valuable are Cross Section Views that show angles of drill holes along a survey line & geologic interpretation around the #uranium bearing ore, used to build 3D models.🧩
8) If you want to explore & browse these types of #Uranium exploration data, best bet is to visit the Fission #Uranium website, as they are the only explorer/developer that publishes full data publicly for every hole they've ever drilled at PLS. 📄⛏️ Great research resource.📚🧐
9) To get ahead of the herd🦬 you can use Scint & Assay tables for hundreds of #Uranium drill holes published by Fission to learn how to estimate #U3O8 Grades from initial Scint data in news releases🧮 before associated Assays are released weeks later.👍 fissionuranium.com/projects/tripl…
10) Some #Uranium Explorers don't want to wait weeks or months for lab to Assay their cores so you sometimes will see "Grade % eU3O8" published. In this case, downhole Gamma probe is specially calibrated to convert its Gamma Log Profile directly into equivalent % Grade #U3O8.⛏️
11) Drill seasons for #Uranium explorers & developers are my favourite times of the year😃 full of anticipation & high hopes for #U3O8 mineralized drill cores and new discoveries⛏️ that can send share prices rocketing🚀 or not☹️ as investors try to decipher news.👨💻 Good luck!☘️💰
• • •
Missing some Tweet in this thread? You can try to
force a refresh
Excellent TD #Uranium presentation by Grant Isaac of Cameco $CCO $CCJ today (replay coming). Here are some points:
- Cigar remains down, no restart date yet or estimate on rate of production recovery after it restarts
- SWU/Conversion robust⤴️ & expect U price to follow↗️
.../2
2/ - On-market term contracting not there yet but Off-market pipeline is back to pre-Fukushima levels
- Substantial uncovered demand with #nuclear utilities so far purchasing just 20% of needs. Delayed contracting will lead to more rapid price rise when contracting heats up
.../3
3/ - Cameco is not looking to increase their contracting beyond current 20M lbs/yr over next 5 years as that would force them to buy more Spot market material = Strategic patience
- 2020 global production down to 120M lbs & 2021 supply risk (COVID) greater than demand risk
.../4
#Uranium Market Update in a nutshell🥜 #U3O8 continues to be a best performing commodity of 2020, up 25% YTD, up 69% from its bottom in November 2016.🐂📈 #Nuclear power growth remains robust ⚛️🏗️↗️ Demand at 182M lbs/yr & rising, Supply deficit ~60M lbs, -317M lbs by 2026⛏️⏬🗜️
#Uranium has strong #bullish outlook 🐂🔮 #Nuclear utility contracting has been below normal for past 8 yrs. Re-stocking cycle overdue with growing uncovered demand & delayed Long-term contracting since 2012.⌛️
With such strong #Uranium supply/demand fundamentals, why is #U3O8 market rebalance taking so long? 🤔 Trade Issues, Russian Suspension Agreement, #COVID19 have sidelined #nuclear utilities BUT trade issues nearing resolution, utilities getting back to work, #China going all-in🏗️
Yee-Haw!🤠 Breaking #Uranium News!📰 US Commerce & #Russia's Rosatom have initialed a Draft Amendment to the Russia Suspension Agreement setting out new provisions, limits & terms of extension.📜 Commerce soliciting comments by 28 September. Download here: app.box.com/s/a2jclok4se78…
Kazatomprom 1H20 Financial Results 💰 World's largest #Uranium producer has released its Financial & Operations Review for H1 2020 & held a 1-hour Conference Call with Q&A. 💻 Market responding positively with trading Up a tad near 52-week high👍 kazatomprom.kz/en/media/view/…
#Kazakhstan's #Uranium production was down -3% in first 6 months of 2020, down -7% attributable to , as #COVID19 slowdown to be primarily felt in H2 as per previous 2020 Guidance. CAPEX down -38% vs H1 2019 due to #COVID19 suspensions.⛏️↘️ Details: kazatomprom.kz/storage/2e/ofr…
Here are some Slides from Kazatomprom 's Conference Call. Excellent presentation with detailed coverage of ISR #Uranium production timelines, impact of #COVID19. 😷⛏️↘️ As of today, workers now back on site beginning drilling & wellfield operations after 4-month halt.
1) With many #Uranium Explorers now actively drilling in #Canada's #AthabascaBasin, perhaps it's time⏳ for a thread on how to interpret drill data coming soon 🔜 in news releases.📰 Misunderstanding data can lead to premature exit... selling🦬 when you shoulda been buying🛍️
2) #Uranium explorers drill rock core samples looking for signs of #U3O8 bearing ore.🧐 Rarely do they ever hit high-grade on first few attempts.😟 Geologists first look for visual signs in the core samples.. here's description from pre-discovery 2013 drilling at Arrow (Rook 1):
3) Visual inspection of core samples is just 1 of many steps taken to see if they found #uranium. Presence of radioactivity is best indicator so all cores are scanned with an instrument called a Hand-held Scintillometer to produce "Scint" CPS tables for cores from each hole.🌡️
#Uranium sector has entered unprecedented times.🦖 Once overflowing warehouses of #U3O8 supply now running low at #Nuclear utilities, secondary suppliers & producers.🌵 #COVID19 halted half world's production for 5+ mths, forcing 2 largest miners to buy lbs to fill contracts🛒😟
What market doesn't yet realize is #Kazakhstan's ISR #Uranium#mining operates like an agricultural cycle, with #U3O8 harvested 4-9 months after wellfield plantings.🌱 This year, due to #COVID19, has missed their prime Spring/Summer planting season= major 2021 harvest drop⤵️
#Kazakhstan's #Uranium miners have never missed their prime April-September wellfield installations season before.😲 They estimate 4000tU (10.4M lbs) #U3O8 2020 harvest lost & can't yet quantify 2021 losses. Past history suggests it may take 2+ years to ramp back up by 4000tU⛏️🐌