Summary
Name: Kraken Energy Corp.
Tickers: 🇨🇦 UUSA 🇺🇸 UUSAF 🇩🇪 F2C
Commodity: Uranium
Jurisdiction: USA
Stage: Exploration
Market Cap: $5M CAD
About
Looking for uranium stocks to watch in 2024? Kraken Energy’s CEO, Matthew Schwab says this lithium exploration stock is worth a look.
Kraken Energy is a uranium exploration company with 4 uranium projects in the US. 3 of those uranium assets are in Nevada and 1 of them is in Utah. Kraken’s CEO Matthew Schwab told me that they’re working on a “hub-and-spoke” strategy, which includes them potentially finding multiple uranium deposits close to each other that can feed one central mill. Kraken’s assets are all in historical uranium mining districts that produced uranium the US during the US uranium mining boom of the 1950s, and 1960s. The company is currently drilling and mostly focused on the Apex past-producing uranium mine. According to “Nevada Expeditions”, Uranium was discovered just north of Veatch Canyon by Joe and Rudy Rundberg in September 1953. They dug a 118-foot tunnel, and in August 1954 they began a 20-year lease of their Early Day Mine to the Apex Minerals Corporation. The mine only operated until 1968, however, and during this time produced 45 metric tons of ore, making it Nevada’s largest producer of uranium. Additional drilling was done sometime in the 60s and 70s, but no mineable resources were found.
