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RESEARCH

UEX Corporation (TSX:UEX) – A Glowing Proposition

We are initiating coverage of UEX Corp with a BUY rating and a $0.55 target price. This uranium explorer controls 294,400 ha over 19 projects in the Athabasca Basin and with an attributable resource base of 99.5M
lbs, UEX has the portfolio of a quality development and exploration projects without the premium pricing. The company’s “pounds in the ground”, provide it leverage to what we believe is going to be a rising uranium price, plus UEX’s assets should allow it to generate positive fundamental catalysts. With a seasoned exploration and management team, we believe UEX is poised to re-rate as it advances its suite of Athabasca Basin projects and the uranium price rises.

Standard Uranium Ltd. (TSXV: STND) – Phase I Drilling Delivers Technical Success, Assays Pending

Standard Uranium announced the completion of the Phase I summer 2020 diamond drilling program at its flagship 25,886 ha Davidson River Uranium Project located in the Southwest Athabasca Uranium District of the Athabasca Basin, Saskatchewan. The program comprised 13-holes (5,607m) within the company’s highest priority target, the Warrior Trend (Figure 1). While the potential for a rising uranium price should help this stock, initial assays are pending, and history tells us that a high-grade uranium discovery is likely to result in significant share price appreciation.

RECENT transactions

C$8.0 million

Pending
Lead Agent

C$10.0 million

September 2020
Lead Agent

A$10.2 million

Sept. 2020
Exclusive N.A. Agent

C$9.5 million

August 2020
Lead Agent

C$8.0 million

August 2020
Co-Agent

C$10.0 million

August 2020
Lead Agent

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