George Glasier, CEO of Western Uranium talks about a new technology that reduces the cost of recovering uranium.
Our main focus at Western Uranium is of course uranium. It’s in the name. We are focusing on the western United States where all of our resources are held and we’re focusing on near-term production being in production in the next year or two. Our company has the second largest resource in the United States approximately 90 million pounds comprised of a number of properties, but we also have seven permitted uranium mines that had been past producers that could go into production very quickly.
Reactors will be built or are being built throughout the world. China, India, Russia, even a few in the United States. So an additional consumption will come. So the world is cutting production, but demand is going up. Certainly most analysts say its 2020, there is going to be a fairly significant shortage of the commodity and when you have shortages of a commodity, prices go up.
The company also controls a new technology that’s been developed to reduce the cost of recovering uranium from the mine. It’s called the ablation technology developed by some scientist in Casper, Wyoming and some people have akin this to basically fracking in the United States, that brought back oil and gas production from non-economical resources. That’s what ablation intends to do with the uranium industry.
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