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Fission Uranium Corp.

Fission Uranium Corp (TSX: FCU) owns the award-winning PLS uranium project, host to the near-surface, high-grade Triple R deposit – part of the largest mineralized trend in the Athabasca Basin region. Major new high-grade zones have been discovered each year since discovery in 2012 and recent exploration drilling has encountered further mineralization west of the trend. Headed up by CEO, Dev Randhawa, and President / COO and Chief Geologist, Ross McElroy, Fission is one of the most successful exploration companies in the uranium sector.

Multiple Catalysts Converging this Fall – Uranium Update

Following the publication of both the UxC’s quarterly report and the World Nuclear Association’s (WNA) biannual nuclear fuel report, we have updated our uranium supply/demand model to reflect evolving market conditions since our last update on June 3rd, 2019. Following various sector updates, most importantly the outcome of Section 232, we have also updated our uranium company assessment. We are maintaining our bullish outlook on the uranium sector. We expect multiple catalysts converging in October 2019 may bring utilities back to the term market to secure long term supply.

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Fission Uranium Corp. (TSX:FCU) – Drilling Points to Resource Growth

Impact: Mildly Positive

Fission Uranium Corp has announced positive drill results from the Patterson Lake South (PLS) project which suggest this high-grade uranium resource has room to grow around the existing deposit. Results continue to suggest that the PLS project has the potential to be one of the larger and lowest operating cost uranium projects in the world and is well positioned for a potential turn in the uranium market.

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Uranium Update – 232 Decision: Positive for Everyone but U.S. Miners

The official decision on 232 was announced on Friday night. In our view this is positive for the overall uranium market, as we believe its resolution should allow utilities and producers to enter into long-term agreements, which should push the uranium price higher. While positive for the overall market, the premium that U.S. producers and developers had acquired over the last ~18 months is likely to come out of the market.

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Uranium – Red Cloud’s Nuclear Summer Conferences

Earlier this week, Red Cloud hosted a pair of conferences in New York and Toronto featuring presentations from seven uranium developers and explorers and other industry experts. Both conferences were kicked off by a presentation from Philip Johnson, Vice President – Fuel Cycle, of the UxC, which is one of the nuclear industry’s leading market research and analysis companies. Philip presented an overview of the uranium market, which included the UxC’s outlook on global nuclear demand and uranium supply. Seven presentations followed from Anfield Energy (TSXV:AEC), Appia Energy (CSE:API), Blue Sky Uranium (TSXV:BSK), CanAlaska Uranium (TSXV:CVV), Fission 3.0 (TSXV:FUU), Fission Uranium (TSX:FCU) and Laramide Resources (TSX:LAM). The New York conference ended with a Q&A with Arthur Hyde, Partner & Co-Portfolio Manager at Segra Capital Management, which consisted of a discussion on recent macroeconomic trends and the outlook on the uranium sector.

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Uranium – Nuclear Summer is Coming

A new uranium bull market is coming – sooner than most people think. Our work suggests that the current price environment is unsustainable and that the long-term the price needs to increase 72% to more than US$55/lb U3O8e to stimulate the market enough to bring on new production (Figures 4, 5 and 6). In this report, we evaluate both the supply and demand fundamentals of the market, the real cost to bring on new supply and the price response required to do so. In addition, we evaluate most uranium companies and provide a detailed analysis of stocks that we believe are likely to benefit with the coming bull market.

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Fission Uranium Corp. (TSX:FCU) – Fission Moves a Step Ahead with PFS

Impact: Mildly Positive

Fission Uranium Corp has issued a prefeasibility study (PFS) for its Paterson Lake South (PLS) project in Canada which features lowered operating costs and room for further improvement as the company assesses an underground-only option for their mine plan. This PFS suggests that the PLS project has the potential to be one of the larger and lowest operating cost uranium projects in the world and is well positioned for a potential turn in the uranium market.

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