Uranium Mining & Development

Sceptre Ventures Inc. and 1490660 B.C. Ltd. have entered into a non-binding letter of intent dated October 8, 2026, under which Sceptre will acquire the outstanding securities of 1490660 in a reverse takeover that will constitute Sceptre's Qualifying Transaction as a Capital Pool Company. The LOI contemplates a definitive agreement by November 30, 2026, with Sceptre acquiring all issued and outstanding securities of 1490660 on a 1 for 1 exchange ratio, and the Resulting Issuer continuing 1490660's business under the name Evolution Uranium Corp. and listing as a Tier 2 Mining Issuer on the TSX Venture Exchange. 1490660 is a privately held Canadian mineral exploration company whose principal properties are the Black Birch Lake Property and the Rifle Property, both in Saskatchewan, and its outstanding capital consists of 17,000,100 common shares and 15,000,000 share purchase warrants. In connection with the Proposed Transaction, Sceptre intends a concurrent financing of up to 6,000,000 units at $0.50 per unit for gross proceeds of up to $3,000,000, each unit comprising one Sceptre share and one Sceptre warrant exercisable at $0.75 for two years. Assuming completion of the Concurrent Financing, approximately 26,001,753 Sceptre Shares and up to approximately 21,000,000 Sceptre Warrants will be outstanding, with former 1490660 shareholders holding approximately 65.38%, Concurrent Financing placees approximately 23.08%, and former Sceptre shareholders approximately 11.54% of the Resulting Issuer Shares on an undiluted basis. Trading in Sceptre's common shares has been halted and is expected to remain halted until completion of the Proposed Transaction.

Energy Fuels reported $996 million in working capital as of June 30, 2026, up from $927.4 million as of Dec. 31, 2025, including $58.4 million of cash and cash equivalents and $878.3 million of marketable securities. The company's net cash used in operating activities declined to $17.8 million in the first half of 2026 from $44.8 million a year earlier, while net cash used in investing activities rose to $133.3 million from $75.2 million on higher investments in marketable securities, equipment and mineral properties, plus contributions to the Donald Project joint venture. In June, Energy Fuels received a conditional $725 million financing commitment from the U.S. Office of Strategic Capital, a proposed 20-year loan to support critical minerals processing expansion at the White Mesa Mill and a planned U.S. rare earth metals and alloys facility, subject to customary conditions and approvals. Among peers, MP Materials generated $4.9 million of operating cash flow in the first half of 2026 versus an outflow of $66.9 million a year earlier, and spent $307.7 million on property, plant and equipment, up from $59.5 million, ending with $429.6 million in cash, cash equivalents and restricted cash. Centrus Energy reported $16.7 million of operating cash outflow in the first half of 2026 against $89.3 million of inflow a year earlier, with capital expenditures surging to $94.8 million from $5.7 million and cash and cash equivalents of $1.87 billion as of June 30, 2026.

US Critical Metals Corp. announced the appointment of James Hocking, a director of the company, as Chief Executive Officer, effective today. Hocking succeeds Darren Collins, who is stepping down as CEO but will remain a director of the company. Hocking is a commercial and capital markets executive with over 20 years of experience in the resources sector, including 7 years with BHP Group where he led commercial initiatives supporting major mining and infrastructure operations. He said his focus will be on building long-term shareholder value, noting that copper was added to the U.S. critical minerals list in 2025 and that the company's Korn Kob Copper Project is an exploration-stage property in Arizona, alongside its lithium, uranium and cobalt exploration properties. USCM's assets consist of five discovery focused projects in the United States: the McDermitt East Lithium Project and Clayton Ridge Lithium Property in Nevada, the Long Canyon Uranium Property and Haynes Cobalt Property in Idaho, and the Korn Kob Copper Project in Arizona.

China Uranium, stock code 001280, announced that Chairman Yuan Xu has resigned due to work adjustment. The announcement shows that the board of directors of China Uranium recently received a written resignation report from Yuan Xu, in which he applied to resign from his positions as chairman, director, and convener of the board's strategy and investment committee. His original term was set to end upon the expiration of the second board of directors. After resigning, he will no longer hold any position in the company. According to relevant regulations, Yuan Xu's resignation will not cause the number of board members to fall below the statutory minimum, and his resignation report takes effect from the date it is delivered to the board. It will not have an adverse impact on the company's daily management or production and operations. As of the disclosure date of the announcement, Yuan Xu does not hold any company shares, and there are no commitments that should have been fulfilled but have not been fulfilled. China Uranium stated that during his tenure, Yuan Xu performed his duties diligently and conscientiously, steadily advanced the increase of domestic natural uranium reserves and production, significantly enhanced the ability to control overseas uranium resources, accelerated the development of the comprehensive utilization industry for radioactive associated resources, strengthened top-level design for scientific and technological innovation, and successfully completed the company's initial public offering and listing.

Purecore Metals Inc. intends to complete a non-brokered private placement for aggregate gross proceeds of up to C$2,500,000, the company announced on October 2, 2026. The offering will combine hard dollar units priced at C$1.35 each and flow-through units priced at C$1.50 each, with each unit consisting of one common share and one warrant. Each warrant entitles the holder to acquire one warrant share at C$2.00 for 36 months from the applicable closing date, subject to acceleration if the closing price on the Canadian Securities Exchange equals or exceeds C$2.50 for ten consecutive trading days. Net proceeds from the hard dollar units are expected to fund mineral exploration, property expenditures and acquisitions, and general corporate and working capital purposes, while gross proceeds allocated to the flow-through shares will be used to incur eligible Canadian exploration expenses that the company intends to renounce to subscribers with an effective date no later than December 31, 2026. Completion remains subject to customary closing conditions and regulatory approvals, and all securities issued will be subject to a four-month hold period.

RBC Capital initiated coverage of Uranium Energy with a Sector Perform rating, a Speculative Risk qualifier and a $10 price target, sending shares down 0.6% in Friday's trading. Analyst Andrew Wong said the shares look fairly valued, balancing strong growth potential against execution risk. Uranium Energy holds the largest licensed U.S. uranium capacity at 12M lbs/year, with production currently ramping, which could generate significant cash flow at RBC's roughly $110/lb long-term uranium price forecast. Wong flagged ramp-up risks tied to labor, permitting and construction, noting the company is ramping production in Wyoming and Texas, developing the Roughrider project in Saskatchewan, and plans to build new uranium conversion capacity in the U.S. He said the company offers highly leveraged exposure to uranium, especially U.S.-origin, but carries potential execution risks given its ambitious and expansive plans, adding that building greenfield conversion in the U.S. comes with significant risks and that plan details are currently limited.

Apex Resources Inc. has entered into an option agreement granting ReOsiris Inc. the exclusive right to acquire Apex's 100% interest in the Wau mineral claim in British Columbia. The option agreement took effect October 1, 2026, with ReOsiris, an arm's-length party, paying a non-refundable upfront cash payment of $20,000 for the grant of the option. ReOsiris must pay an additional $250,000 in cash upon exercising the option, and the upfront payment will not be credited against that exercise price. ReOsiris has 12 months to decide whether to exercise the option. The property consists of mineral tenure No. 1136563 and includes all minerals on the claim in whatever form, including tailings and waste rock, with all amounts stated in Canadian dollars.

Torq Resources Inc. has closed its previously announced shares-for-debt settlement, issuing 2,261,120 shares to two directors, 240,018 shares to arm's length creditors and 8,081,182 units to arm's length creditors to settle an aggregate of $529,116 of debts. The settlement follows the closing of the company's private placement for gross proceeds of $1.7m on September 16, 2026, and the units issued are identical to those in that placement, each consisting of one common share and one share purchase warrant exercisable until October 1, 2029, to acquire a share for C$0.10. The debts primarily relate to accrued interest on Torq's $2.8m loan facility, both the principal and accrued interest on an $84k promissory note, and settlement of certain accrued director wages. No finder fees were paid in connection with the closing, and the securities issued are subject to a statutory four-month and one-day hold period in Canada. The 2,261,120 shares issued to related parties are exempted from formal valuation and minority shareholder approval requirements under sections 5.5(a) and 5.7(1)(a) of Canadian Multilateral Instrument 61-101, as neither the fair market value of the securities issued to nor the consideration paid by such person could exceed $2.5 million or 25% of the company's market capitalization.

Emerita Resources Corp. says its Preliminary Feasibility Study for the Iberian Belt West Project is well advanced and currently in final review, but the release will come later than previously indicated. Following a review by the company's recently updated Board of Directors, which also established a Technical Committee of independent Directors, Emerita has expanded the final review process to include additional technical and quality assurance oversight. The company said this expanded review is more comprehensive than previously planned and is the primary reason for the change from its previously indicated timing for release of the PFS. The objective is to provide an additional level of technical scrutiny and confidence in the results ultimately published for shareholders and other stakeholders. Based on the current work plan, Emerita expects to complete the review and release the PFS in the coming weeks.

Etruscus Resources Corp. disclosed that certain insiders participated in Tranche 1 of its non-brokered private placement for an aggregate of $48,000. That insider participation constitutes a related party transaction under Multilateral Instrument 61-101, but is exempt from formal valuation and minority shareholder approval requirements because neither the fair market value of the securities acquired nor the consideration paid exceeds 25% of the Company's market capitalization. Tranche 1 of the financing totalled 8,065,400 shares for total proceeds of $500,267, with the insider portion representing a sub-component of that tranche. The Company did not file a material change report at least 21 days before closing Tranche 1, which it deems reasonable to complete the tranche expeditiously and which was unanimously approved by its Board of Directors. The financing remains subject to final acceptance of the CSE, and all securities issued are subject to a hold period of four months and one day from the date of issuance.

Namib Minerals announced that its wholly owned subsidiary, Bulawayo Mining Company (Private) Limited, has secured a non-dilutive $6.5M new term loan facility from African Banking Corporation of Zimbabwe Limited, or BancABC. The new debt facility is in addition to the company's existing term loan and overdraft lines with BancABC, with all credit facilities now consolidated into a single unified structure to optimize working capital and liquidity. Net proceeds from the $6.5M facility will fund Step 3 of the Redwing Mine development, following the early completion of Step 1 dewatering and the fully funded Step 2 Definitive Feasibility Study, which aims to upgrade and extend the asset's resource base. The remaining balance for Step 3 is expected to be funded through the company's broader sequenced financing strategy, with further market updates anticipated in due course.

Cosa Resources Corp. has commenced diamond drilling at its Aurora uranium project in the southeastern Athabasca Basin of Saskatchewan, roughly 16 kilometres east of Cameco's Key Lake mill and historical mine. The program is fully funded by Traction Uranium Corp. under an option agreement dated 10 February 2026, through which Traction can earn up to an 80% interest in Aurora by sole-funding $9.15 million in exploration expenditures plus cash and share payments; Cosa serves as operator. The drill program is planned to comprise approximately 800 metres in four to six holes, testing conductive anomalies identified by Cosa's 2024 Versatile Time-Domain Electromagnetic survey, with three of four target areas having associated uranium-source radiometric anomalies located down-ice. It marks the first drilling at Aurora since the 1980s, and Cosa VP Exploration Andy Carmichael noted the program began within just 8 months of the Traction agreement. Aurora covers a 17-kilometre section of the basin's southeastern rim, and sandstone cover is expected to be less than 100 metres thick in the northern third of the project and absent in the remainder.

F3 Uranium Corp. has appointed Ross McElroy as CEO and Director effective immediately, with Dev Randhawa stepping down as CEO and Chairman to become Executive Chairman. McElroy, a registered professional geologist with decades of uranium industry experience, co-founded both F3 and Fission Uranium with Randhawa and served as CEO of Fission Uranium through its $1.14 billion acquisition by Paladin Energy in December 2024. He most recently was appointed President and CEO of Shine Minerals, and previously joined Apollo Silver as President and CEO during its ramp-up phase to active explorer and developer. Separately, F3 announced it intends to proceed with a consolidation of its common shares on a one post-consolidation share for every ten pre-consolidation shares basis, pursuant to shareholder approval obtained at the company's May 14, 2026 annual and special meeting. The consolidation remains subject to final acceptance of the TSX Venture Exchange, with the effective date to be announced once determined.

Myriad Uranium Corp. announced that an initial 2026 testing campaign by DISA Uranium Corporation on samples from its Copper Mountain Uranium Project in Wyoming showed that high-pressure slurry ablation technology can reduce rock mass by about 70% while producing a three-fold increase in uranium grade. Myriad provided approximately 50 kg of sample material from its 2024 drilling campaign at Canning for the HPSA testing, which collides two slurry streams at high pressures to liberate minerals from gangue material. ICP-MS results showed the total percent reduction of uranium concentration in the clean coarse material ranged from 74.5% to 87.9%, while total percent recovery to the fines concentrate ranged from 83.9% to 90.6%. At the first time interval, 83.9% of the uranium was recovered in 29.3% of the mass, and at the second time interval recovery rose to 90.6% of the uranium in 37.5% of the mass. Radionuclide analysis showed a 78.8% reduction in Ra-226 activity and an 83.5% reduction in Th-230 activity in the clean coarse material. CEO Thomas Lamb called the results highly encouraging but said more testing will be required at scale, and the company noted that early leach testing by Hazen Research in 1976 for Union Pacific found greater than 92% uranium recovery using a dilute sulphuric acid leach, which combined with a preconcentration method such as HPSA could significantly reduce overall beneficiation costs.

Fluxnium, Inc. announced a $7 million seed round led by Congruent Ventures to commercialize uranium adsorbed from seawater rather than mined from rock. Constellation Technology Ventures, the venture investing organization within Constellation, and Active Impact Investments, Canada's largest climate technology seed fund, also participated in the round. Proceeds will fund further development, pilot testing and scale-up of Fluxnium's proprietary high-surface-area fiber, developed with a leading U.S. national laboratory, which passively adsorbs uranium as seawater moves past it. CEO and Founder Jeff Green said the United States imports more than 90% of its uranium supply, and that Fluxnium's approach is projected to compete on cost with conventional mining with no tailings or ground water concerns. The company said seawater holds roughly a thousand times more uranium than all currently identified terrestrial deposits combined, and that capacity grows by deploying additional fiber on proven offshore longline infrastructure rather than developing a new mine.

Eagle Plains Resources Ltd. and partner Xcite Uranium Inc. reported additional drilling results from the Don Lake uranium project near Uranium City, Saskatchewan, where the B Zone and C Zone targets intersected multiple zones of anomalous radioactivity. The 1106m, 10-hole program, contracted to Apex Drilling, tested for structurally-controlled uranium mineralization defined by historical work and the 2025-2026 field programs. Highlights included DN26005 with 1.3m averaging 2898 cps, DN26006 with 5.5m averaging 2656 cps, DN26008 with 0.7m averaging 10403 cps, and DN26009 with 0.6m averaging 12473 cps. The first three holes at Don Lake in 2026, completed in the A Zone area, also intersected anomalous radioactivity, including DN26001 with 1.9m averaging 11571 cps, DN26002 with 1.1m averaging 11753 cps, and DN26003 with 1.2m averaging 2700 cps. Geochemical assays of drill core samples are pending, and the approved 2026 budget for Don Lake is approximately $1.1 million, consisting of $200,000 in completed fieldwork and $900,000 allocated for drilling, with all work managed by TerraLogic Exploration Inc. Under a December 2023 agreement, Xcite holds the exclusive right to earn up to an 80% interest in the Don Lake, Gulch, Lorado, Beaver River, Black Bay, and Smitty projects, which cover 54 Saskatchewan Mineral Deposit Index occurrences and five past-producing uranium mines and are 100% owned by Eagle Plains.

American Battery Technology Company reported its first-ever adjusted gross profit on its fiscal year 2026 earnings call on September 14, even as CEO Ryan Melsert disclosed a federal directive that effectively bans exports of black mass unless the company obtains a specific exception. Revenue at its flagship recycling facility jumped more than 400% year over year to $21.7 million, while cost of goods sold rose only 67% and operating cash spend fell 16%, pushing adjusted gross profit to $1.7 million from a $6.2 million loss a year earlier. Cash climbed to $49.5 million as of June 30, 2026, total assets reached $133 million, and the company erased all long-term debt. A second recycling facility planned for the Southeast U.S., designed to process 100,000 tons of batteries a year, is backed by a $150 million Department of Energy grant, and a separate $10 million DOE grant funds three next-generation recycling technologies; the Bureau of Land Management also certified the plan of operations for the Tonopah lithium project in Nevada, which holds 21.3 million tons of lithium hydroxide including 2.7 million tons of proven and probable reserves. American Battery Technology has submitted a request for the black mass export exception but had received no formal response from the Department of Commerce as of the call, and short interest sits at 16.38% of the float against a forward P/E of 37.74 as of September 16.

EagleOne Metals Corporation announced executive management and Board changes as the company advances a renewed strategic focus on the uranium sector. Effective September 14, 2026, Shane Lowry has been appointed Interim Chief Executive Officer and a Director, while founder Matthew Markin, who had served as CEO since inception, transitions to Chief Financial Officer while remaining a Director. Barry Wattenberg has stepped down as Chief Financial Officer but continues as a Director, and Robert Reukl has resigned as a Director. The company reconstituted its Audit Committee to consist of Howard Blank, Robert Hall and Shane Lowry, with Blank continuing as Chair. EagleOne said it intends to evaluate opportunities involving uranium assets and companies while continuing to assess opportunities across its existing portfolio, citing growing global interest in uranium and nuclear energy, including increasing attention to the sector in the United States.

Albemarle Corp. has named BHP Group Limited's Chief Commercial Officer Ragnar "Rag" Udd as its next CEO, effective Feb. 1, 2027, succeeding Kent Masters, who will become executive chairman at the 2027 annual meeting. The transition comes as the lithium producer faces a market shaped by Chinese oversupply and shifting demand toward grid-scale storage. JPMorgan analyst Jeffrey Zekauskas cut Albemarle's 2026 adjusted EBITDA estimate by 14.4% to $2.88 billion, noting that each $1-per-kilogram move in lithium prices shifts annual EBITDA by roughly $250 million. Meanwhile, China's revocation of environmental approval for CATL's Jianxiawo mine has led Benchmark Mineral Intelligence to halve its 2026 output forecast for that site to 32,000 tons of lithium carbonate equivalent. Udd brings over 25 years of experience in resource businesses across Australia, Asia, and the Americas, and will oversee Albemarle's Energy Storage and Specialties businesses as the company positions for a market recovery.