Uranium Stocks List

Cameco is the world's second-largest uranium producer by production volume and the largest uranium company listed on a North American stock exchange, with a vertically integrated business spanning mining, milling, refining, and conversion, plus a 49% stake in Westinghouse Electric Company, the world's leading nuclear reactor technology and services provider. Its two flagship Saskatchewan operations are McArthur River/Key Lake (69.8% Cameco, 25 million lb/yr licensed capacity; world's largest high-grade uranium mine) and Cigar Lake (54.5%, 18 million lb/yr; world's highest-grade uranium mine), both in the Athabasca Basin. Cameco also holds a 40% interest in JV Inkai in Kazakhstan. In the United States, it owns the Smith Ranch-Highland (Wyoming) and Crow Butte (Nebraska) ISR operations, both curtailed since 2016. In 2025, Cameco's share of production totalled 21.0 million pounds U₃O₈ — modestly above revised guidance but 10% below 2024, after McArthur River was cut in September 2025 due to development delays. For 2026, combined Saskatchewan guidance of 31.5–34.5 million pounds (100% basis) reflects management's deliberate policy of pacing production to market demand. Westinghouse contributed US$780 million in adjusted EBITDA (Cameco's 49% share) in 2025. In late 2025, a binding term sheet was signed with the US Government for an US$80 billion program to deploy Westinghouse AP1000 and AP300 reactor technology. Cameco's contracted uranium book stands at approximately 230 million pounds forward, with ~28 million pounds per year committed through 2030.

Kazatomprom is the world's largest uranium producer, accounting for approximately 21% of global primary supply, and is the national uranium company of Kazakhstan, the country holding the world's second-largest uranium reserves. All production uses in-situ recovery (ISR), structurally lower cost than conventional mining and well suited to the sandstone-hosted deposits of the Kazakh steppe. The company operates across a large portfolio of joint ventures with international partners including Cameco (Inkai JV), CGN, Uranium One, and others. A key structural consideration for Western investors is that production from the Budenovskoye deposit has been committed through 2026 to Russia's civil nuclear sector, making those volumes functionally unavailable to Western utilities in the near term. Consistent with its value-over-volume strategy, Kazatomprom reduced its SUA-permitted production ceiling for 2026 by approximately 3 ktU (~8 million pounds), equivalent to roughly 5% of global annual primary supply. Actual 2026 production guidance of 27,500–29,000 tU reflects improved operational performance. Common shares trade on the Astana International Exchange, with GDRs accessible to Western investors on both the AIX and the London Stock Exchange.

NexGen Energy is the developer of the Rook I Project in Saskatchewan's Athabasca Basin, home to the Arrow deposit, the world's highest-grade, large-scale undeveloped uranium project, with probable reserves of 240 million pounds U₃O₈ grading 2.37%. On March 5, 2026, the CNSC issued a Licence to Prepare Site and Construct — the final federal regulatory approval needed to begin full construction — targeted to commence summer 2026. The 2021 feasibility study outlines peak annual production of up to 30 million pounds, with an updated 2024 Interim Trend Update revising expected pre-production capital to approximately C$2.2 billion. NexGen also controls the Patterson Corridor East (PCE) discovery 3.5 km from Arrow, where 2025 drilling returned intercepts including 15.0 metres at 15.9% U₃O₈, confirming an extensive high-grade mineralised system. NexGen holds approximately 30% of IsoEnergy and is well-capitalised following a global equity offering in October 2025 that raised AUD$1 billion, leaving the company with approximately C$1.1 billion in cash.

Sprott Physical Uranium Trust is a Toronto-listed, closed-end investment vehicle that holds physical uranium in the form of U₃O₈ and uranium hexafluoride, making it the largest and most liquid listed vehicle providing direct exposure to the uranium price. As of early 2026 the Trust holds roughly 74.9 million pounds of uranium. Units trade on the TSX like ordinary equity securities, with new units issued through an at-the-market equity programme whenever the market price trades at a premium to net asset value. In 2025 the Trust purchased about 8.7 million pounds of uranium, nearly three times its 2024 acquisition volume, reflecting sustained institutional and retail appetite. Unlike operating miners, it offers no project-level or operating leverage; its returns are driven purely by changes in the U₃O₈ spot price, cementing its role as the de-facto reference physical uranium vehicle for global investors.

Uranium Energy Corp is a US-focused uranium producer and the largest licensed uranium producer in the United States by licensed processing capacity, operating a hub-and-spoke ISR model across Texas and Wyoming anchored by three central processing plants: Hobson (Texas), Irigaray (Wyoming), and the recently acquired Sweetwater Plant (Wyoming). Combined licensed capacity totals approximately 12.1 million pounds U₃O₈ per year. The Christensen Ranch ISR operation in Wyoming recommenced production in August 2024 and continued ramp-up through fiscal year 2025. The Sweetwater conventional mill complex, acquired from Rio Tinto in December 2024 for approximately $175 million, holds a licensed capacity of 4.1 million pounds U₃O₈ per year and is advancing through fast-track federal permitting to add ISR resin processing capability, which would make it the only dual-feed uranium facility in the United States. UEC is positioned to benefit from US energy-security policy, including bipartisan nuclear legislation and the Commerce Department's 2025 Section 232 investigation into processed critical minerals, which explicitly covers uranium.

Paladin Energy is an ASX- and TSX-listed uranium producer that restarted the Langer Heinrich Mine (LHM) in Namibia in March 2024 after approximately six years on care and maintenance. Langer Heinrich is a conventional alkaline leach operation that produced 3.0Mlb U₃O₈ in its first full year of operations (FY2025), with the ramp-up continuing through FY2026. Thirteen offtake agreements with tier-one utilities in the US, Europe, and Asia cover approximately 24.1Mlb through to 2030, providing near-term revenue visibility alongside market-linked upside. In December 2024, Paladin acquired Fission Uranium Corp., adding the Patterson Lake South (PLS) Project in Saskatchewan's Athabasca Basin — host to the Triple R deposit, one of the largest high-grade near-surface uranium discoveries in the basin. The combined portfolio of a producing African mine and a tier-one Canadian development project positions Paladin as one of the more complete mid-tier uranium investment vehicles in the sector.

Energy Fuels is the largest uranium producer in the United States and the operator of the White Mesa Mill near Blanding, Utah, the only licensed and operating conventional uranium mill in the country. The Mill is the cornerstone of the company's strategy: a fully permitted, multi-commodity processing facility that can recover uranium, vanadium, and rare earth elements (REEs) from a variety of feed materials. Beyond uranium, Energy Fuels has reconfigured the Mill into a critical minerals hub. Its Phase 1 REE separation circuit, commissioned in 2024, can process monazite concentrate into separated neodymium-praseodymium (NdPr) oxide, making it the only facility in the U.S. capable of producing separated REE products at a uranium mill. The company is advancing a Phase 2 expansion with a bankable feasibility study completed in January 2026 estimating capital costs of approximately $410 million, targeting total NdPr production capacity of over 6,000 tonnes per year.

Denison Mines is a Canadian uranium development company focused on the Athabasca Basin region of northern Saskatchewan, best known for its 95% interest in the Wheeler River Uranium Project, the largest undeveloped uranium project in the eastern Athabasca Basin. In February 2026, Denison reached a pivotal inflection point, receiving its federal Construction Licence and approving a Final Investment Decision to build the Phoenix In-Situ Recovery (ISR) uranium mine, the first new uranium mine in Canada to receive federal construction approval in over 20 years. Phoenix carries a post-FID initial capital cost of C$600 million, with construction expected to take approximately two years and first production targeted for mid-2028. Beyond Phoenix, Denison holds minority interests in the producing McClean Lake mill (22.5%) and approximately 457,000 hectares of exploration ground across the Athabasca Basin. Denison entered 2026 with approximately C$656 million in cash and physical uranium holdings — the latter comprising 1.7 million pounds of U₃O₈ acquired at an average cost of ~US$30/lb.

CGN Mining Company Limited (01164.HK) is a Hong Kong-listed uranium company majority-controlled by China General Nuclear Power Corporation (CGNPC), one of China's largest state-owned nuclear energy groups. The company's primary earnings engine is its 49% equity stakes in two Kazakhstan uranium mining joint ventures, Semizbay-U and Ortalyk, both operated in partnership with Kazatomprom, which together produced 650 tU of uranium attributable to CGN Mining in the first half of 2025. Alongside its mining equity interests, CGN Mining operates an international uranium trading business through its UK subsidiary CGN Global Uranium Ltd, which buys uranium under annual off-take arrangements from its Kazakh JVs and sells to utilities across Europe, Asia, and North America. The company also holds a 2.61% stake in Paladin Energy. Together, the business positions CGN Mining as a Chinese state-linked platform spanning uranium mine equity, physical trading, and resource investment across the nuclear fuel supply chain.

Yellow Cake is a London AIM-listed company whose sole business is the acquisition and holding of physical uranium, making it one of the most direct listed exposures to the U3O8 spot price available to London-based investors. The company holds no mines or development projects; it purchases uranium and stores it at licensed Cameco facilities. A binding framework agreement with Kazatomprom provides the right to purchase up to US$100 million of uranium per year at spot, giving Yellow Cake preferential access to a major producer. Its NAV tracks the U3O8 spot price directly. Alongside Sprott Physical Uranium Trust, Yellow Cake is a reference vehicle for investors seeking pure commodity price exposure without operational leverage or development risk.

Deep Yellow is an ASX-listed uranium developer pursuing a dual-project strategy spanning Namibia and Western Australia. The flagship Tumas Project in Namibia is a calcrete-hosted, open-pit uranium deposit with a completed 2025 Definitive Feasibility Study targeting a nameplate production rate of 3.6 million pounds U₃O₈ per year. The project holds Proved and Probable Ore Reserves of 79.5 million pounds at 298 ppm and a 20-year Mining Licence (ML237). The Board deferred FID on Tumas in April 2025, having determined that uranium market prices were insufficient to justify greenfield development despite the project meeting the company's investment criteria at US$82.50/lb. Deep Yellow is advancing detailed engineering, early non-processing infrastructure works, and project debt financing to maximise construction readiness for when market conditions improve. Mulga Rock in Western Australia, acquired through the 2022 merger with Vimy Resources, is a conventional sandstone uranium deposit undergoing a revised DFS due Q3 2026.

IsoEnergy is a Canadian uranium developer best known for the Hurricane deposit at its Larocque East project in the Athabasca Basin, the world's highest grade published Indicated uranium resource at 34.5% U₃O₈ across 48.6 million pounds, with drill intercepts routinely exceeding 5–10% U₃O₈ over meaningful widths. NexGen Energy holds approximately 30% of IsoEnergy. The company has broadened its portfolio beyond Larocque East through a series of acquisitions and joint ventures, including fully permitted, past-producing conventional uranium mines in Utah, a 50% interest in the Purepoint Joint Venture where the high-grade Nova Discovery was made in 2025, and the acquisition of ASX-listed Toro Energy, completed in June 2026, which added the Wiluna uranium project in Western Australia. The company listed on the NYSE American in May 2025 following a 4-for-1 share consolidation. Hurricane's extraordinary grades position it as a potentially transformative deposit.

Ur-Energy is a US and Canadian-listed uranium producer operating two ISR facilities in Wyoming. Lost Creek began production in 2013 and is currently ramping up, with pounds drummed growing 65% year-on-year in 2025 as the company expands its wellfield and optimises plant throughput. Shirley Basin, its second ISR site, is construction-complete and awaiting a Wyoming state regulatory approval to commence wellfield injection, after which it would roughly double the company's constructed capacity to approximately 3.2 million pounds per year. The company holds eight long-term sales agreements covering 5.75 million pounds through 2033, with a mix of fixed-escalated and market-linked pricing. Ur-Energy is an active advocate for US domestic uranium supply policy, citing the 2025 Section 232 critical-minerals investigation, which covers uranium, and the DOE Uranium Reserve programme as prospective catalysts.

Bannerman Energy is an ASX-listed uranium developer advancing the Etango-8 project in Namibia's Erongo region, a large-scale open-pit calcrete uranium deposit underpinned by a December 2022 definitive feasibility study targeting average production of about 3.5 million pounds of U₃O₈ per year over an initial 15-year mine life. Etango-8 has substantial defined Mineral Resources, placing it among the larger undeveloped uranium projects globally. In February 2026, Bannerman signed binding joint-venture and financing documentation with CNNC Overseas Limited (CNOL) under which CNOL will invest up to approximately $321.5 million into a new JV company that holds Etango, acquiring a 45% interest while Bannerman retains 55%, and securing entitlement to 60% of life-of-mine production at market-linked pricing. The partnership is structured to fund Etango's construction on a debt-free basis, with the CNOL transaction targeted to complete in mid-2026 and a final investment decision guided for the second half of 2026; bulk earthworks at site were about two-thirds complete as of the June 2026 quarter.

Uranium Royalty Corp (URC) is the world's only pure-play uranium-focused royalty and streaming company, providing diversified exposure to uranium production and development without direct operating or capital-cost exposure, though it still carries project, counterparty, and uranium-price risk. Its portfolio includes 17+ royalties and streams across high-quality assets in Canada, the United States, Australia, and Africa, notably a 1% gross-overriding royalty on Cameco's McArthur River and a 10–20% net-profit-interest royalty on the Cigar Lake/Waterbury complex. In addition to its royalty base, URC holds a material position in physical uranium, giving it direct exposure to the U₃O₈ spot price while also benefiting from growing royalty cashflows as underlying projects ramp up. Denison Mines holds a sizeable minority stake in the company, providing a strategic anchor investor.

Boss Energy is an ASX-listed uranium producer that restarted the Honeymoon ISR mine in South Australia in April 2024. In its first full year of production (FY2025), Honeymoon produced 872,000 lb U₃O₈, slightly ahead of guidance, at a C1 cash cost of A$35/lb (US$23/lb). FY2026 guidance is 1.6 million lb at A$41–45/lb C1. Boss also holds a 30% interest in the Alta Mesa ISR hub in South Texas, operated by enCore Energy Corp, which provides US production diversification and independent marketing flexibility. A material risk has emerged: after analysing 12 months of actual wellfield data and delineation drilling at the East Kalkaroo domain, Boss disclosed in late July 2025 that there may be less continuity of mineralisation and leachability than assumed in the Enhanced Feasibility Study, creating uncertainty around long-term nameplate capacity. The independent technical review concluded in February 2026, confirming a material deviation from the feasibility-study assumptions, and Boss is targeting a refreshed feasibility study in the September quarter of 2026.

Atha Energy is a Canadian-listed uranium explorer controlling one of the largest uranium-land packages in the country, exceeding 7 million acres across the Athabasca Basin in Saskatchewan, the Thelon and Angikuni basins in Nunavut, and the Central Mineral Belt in Labrador-Newfoundland. Its flagship asset is the 100%-owned Angilak Uranium Project in southern Nunavut, where the 2024–2025 programmes delivered multiple high-grade discoveries over several kilometres of strike. The company closed a substantial CAD 63 million financing in early 2026 to fund the largest-ever Angilak-focused exploration campaign. Atha also holds 10% carried-interest exposure in select Athabasca-Basin exploration projects operated by NexGen and IsoEnergy, providing non-dilutive, asymmetric upside.

enCore Energy is a US-focused in-situ recovery (ISR) uranium company developing a hub-and-spoke production platform anchored by its Rosita and Alta Mesa central processing plants in South Texas. The company holds a 70% operating and management interest in the Alta Mesa project alongside Boss Energy's 30% stake, and is advancing a portfolio of licensed and near-term ISR wellfields intended to feed its existing plant capacity and support staged production growth. As a domestic ISR uranium producer with permitted infrastructure and demonstrated production, enCore is positioned as a potential supplier to US utilities seeking reliable US-sourced uranium under an increasingly security- and policy-driven fuel procurement framework.

Global Atomic is a Canadian company focused on developing the Dasa uranium project in Niger, one of Africa's larger high-grade uranium deposits, alongside a 49% interest in a zinc recycling joint venture in Türkiye that has historically generated cash flow. Dasa is supported by a completed definitive feasibility study but long-term development has been delayed following the July 2023 military coup in Niger, which disrupted the permitting and investment environment for foreign resource companies. The company has maintained its presence and engagement in country, while final investment decisions and full mine construction remain contingent on greater clarity around the political and regulatory framework. In the meantime, the zinc joint venture provides an additional source of cash flow and asset diversification separate from the Niger uranium development.

Alligator Energy is a small ASX-listed uranium exploration and development company whose current focus is the Samphire Uranium Project in South Australia, an ISR-style project comprising the Blackbush and Plumbush prospects near Whyalla. The company has completed ISR bench-scale and field-recovery work, supported by a scoping study that confirms a low-capital ISR development pathway, and is now advancing a bankable feasibility study to move toward a final investment decision. While Alligator previously held exploration positions in the Northern Territory's Alligator Rivers Uranium Province, recent strategy has shifted toward South Australia, making the company effectively a small-cap exploration and early-development play centered on South Australian ISR.

Berkeley Energía is an AIM- and ASX-listed company focused on the Salamanca uranium project in western Spain, a planned open-pit operation underpinned by a 2016 definitive feasibility study. Salamanca is often highlighted as the only advanced uranium development of scale within the European Union, giving it clear strategic relevance as a potential fuel source located inside the European Union. Spain's Nuclear Safety Council and the Ministry for Ecological Transition have repeatedly issued negative opinions on the key national-level authorisation for the processing plant, and the ministry has formally rejected Berkeley's construction authorisation application. The company has moved into legal and arbitration processes, including an international claim of up to about $1.25 billion against the Spanish state, making this a high-risk, high-optionality situation with unresolved national approvals.

Mega Uranium is a small Canadian diversified uranium mining and investment company that holds minority equity positions in a range of junior and mid-tier uranium exploration and development companies (notably NexGen Energy and IsoEnergy, whose June 2026 acquisition of Toro Energy converted Mega's Toro shareholding, among others), alongside early-stage exploration projects of its own in Australia and Canada such as the Maureen uranium-molybdenum project in Queensland. In practice, its valuation is dominated by the market value of its listed equity holdings rather than by direct development of its legacy projects, so for most investors Mega functions as a leveraged, small-cap proxy on a basket of uranium equities rather than as an operator advancing a flagship project itself.

Lotus Resources is an ASX-listed uranium developer focused on restarting the Kayelekera mine in Malawi, a previously producing open-pit operation that Paladin Energy ran from 2009 until it was placed on care and maintenance in 2014 due to low uranium prices. The project benefits from substantial existing processing and site infrastructure, which materially lowers development risk and capital intensity relative to a greenfield build. A definitive feasibility study and an accelerated restart plan have been completed. Lotus holds an 85% interest in Kayelekera, with the Government of Malawi retaining the balance, and has secured equity and conditional financing intended to cover the published restart capital requirement. The brownfield status, moderate restart capital, and history as an established producing asset in a known jurisdiction distinguish Kayelekera from many larger, earlier-stage greenfield uranium projects elsewhere in Africa.

Atomic Eagle is an ASX-listed uranium development company focused on the 100%-owned Muntanga Uranium Project in southeastern Zambia, within what is described as one of the largest and least-explored sandstone-hosted uranium basins in the world. The Muntanga project spans several contiguous mining licences covering more than 1,000 square kilometres, hosting multiple near-surface uranium zones. The company is positioning itself as an emerging, Africa-centric uranium developer with a clear mandate to support the clean-energy transition through nuclear-fuel-grade uranium supply.

Laramide Resources is a Canadian-listed uranium exploration and development company with projects in Australia and the United States. Its flagship asset is the Westmoreland Uranium Project in Queensland, one of the larger undeveloped uranium deposits in Australia by contained resource, comprising multiple open-cut-style deposits under active permitting. The company's La Jara Mesa project in New Mexico's Grants Mineral Belt provides conventional underground-style uranium optionality in a historically prolific uranium province. Both assets are at early-to-mid development and permitting stages, making Laramide effectively a longer-dated option on a sustained higher uranium price rather than a near-term producer.

Peninsula Energy is an ASX-listed uranium company restarting production at its wholly owned Lance ISR project in Wyoming's Powder River Basin, one of the largest independent uranium projects in the United States. After operating historically as an alkaline ISR operation, Lance has been converted to a low-pH ISR process that Peninsula's test work and feasibility studies indicate is better suited to the Lance orebody. Commercial production of dried yellowcake resumed in late 2024, with output ramping through 2025–26. As a U.S.-based ISR producer focused on contracting with domestic utilities, Peninsula is positioned to benefit from U.S. energy-security and domestic-sourcing policies, while the low-pH technical approach differentiates Lance from traditional Powder River Basin ISR operations and is central to the project's cost and recovery improvement thesis.

Elevate Uranium is an ASX-listed uranium developer focused on projects in Namibia, with the Koppies uranium deposit as its flagship asset. The company's key differentiator is its proprietary U-pgrade™ beneficiation technology, which concentrates uranium-bearing ore by removing non-uranium gangue prior to leaching, thereby reducing acid and water consumption and improving project economics for lower-grade calcrete-type deposits. At Koppies, Elevate is advancing scoping- and metallurgical-level work, including a dedicated U-pgrade pilot-demonstration plant scheduled to operate in Namibia, to validate the process at a continuous, scalable size and support future feasibility and financing decisions.

Forsys Metals is a Canadian-listed developer holding the Norasa Uranium Project in Namibia, combining the Valencia and Namibplaas deposits in the Erongo Region. A definitive feasibility study has been completed for Norasa, which sits among the larger undeveloped uranium resource bases in Namibia and is structured as a conventional open-pit, mill-based project. The company has been in the development stage for an extended period, with progress limited by uranium-price volatility and project-financing constraints. Namibia's established mining and regulatory environment and completed technical studies position Norasa to advance should market conditions and funding support a final investment decision. Forsys can be viewed as an earlier-stage, Namibian-based open-pit uranium development option.

Aura Energy is an ASX-listed developer with uranium and vanadium assets in Mauritania and Sweden. Its most advanced project is the Tiris Uranium Project in north-eastern Mauritania, a large, near-surface, calcrete-style deposit for which a definitive feasibility study has been completed, supporting a low-capital, simple-chemistry production concept and a target of about 2 million pounds of uranium per year once developed. The company is advancing offtake discussions and project-financing negotiations with the aim of reaching a final investment decision in 2026 and first production around 2027. The Häggån polymetallic project in Sweden offers a longer-dated European critical-minerals optionality, focused on vanadium and associated by-metals.

F3 Uranium is a Canadian-listed uranium explorer focused on the Patterson Lake North (PLN) project in the southwestern Athabasca Basin, adjacent to NexGen Energy's Rook I and Fission Uranium's Patterson Lake South properties. The company's flagship discovery is the JR Zone, a high-grade, basement-hosted uranium system first identified in 2022. NexGen holds an approximate 10% stake in F3. An initial Indicated Mineral Resource estimate of around 11.8 million pounds U₃O₈ at roughly 4.4% grade (with a high-grade core at over 12% U₃O₈) has been established. F3 is now also advancing the newly discovered Tetra Zone and other PLN targets, maintaining its position as a pure-play exploration story in what is arguably the most active uranium-drilling corridor in the world.

Skyharbour Resources is an Athabasca-Basin-focused uranium project generator holding the Moore Lake (Moore Uranium) Project as its flagship asset, alongside a broader portfolio of joint-venture partnerships. The Maverick Zone at Moore has returned high-grade uranium intercepts, including 11.77% U₃O₈ over 1.6 metres in 2025. Skyharbour's business model is to advance prospective Athabasca-style ground to a point where high-grade potential is demonstrable, then option out portions to partners who fund exploration and development while Skyharbour retains carried interests and ongoing ownership. JV partners have included Denison Mines, exemplifying this project-generation and value-retention structure.

CanAlaska Uranium is a TSX-V-listed Athabasca-Basin-focused uranium explorer managing a large portfolio of projects in Saskatchewan, with the West McArthur Joint Venture as its flagship asset. West McArthur, a JV with Cameco, lies adjacent to Cameco's McArthur River mine and is prospective for high-grade basement- and unconformity-hosted uranium mineralisation similar in style to those tier-one deposits. The Pike Zone, discovered in 2022, has returned ultra-high-grade intercepts in the 2024–25 drill programmes, significantly expanding the known mineralised corridor while remaining open in multiple directions. CanAlaska's model is to advance its land package and attract major partners such as Cameco to fund exploration, retaining operatorship and carried-interest positions.

Premier American Uranium is a Canadian-listed uranium explorer and developer focused entirely on the United States, initially spun out of Consolidated Uranium (now IsoEnergy) in late 2023. Its flagship asset is the Cebolleta uranium project in New Mexico's Grants Mineral Belt, for which an updated NI 43-101-compliant Mineral Resource Estimate and a Preliminary Economic Assessment have been filed, outlining a low-capital-expenditure, heap-leach-style operation with an average production target of about 1.4 million pounds of uranium per year. In Wyoming's Powder River Basin, Premier holds the Kaycee and Cyclone ISR projects, where it has initiated one of the largest grassroots uranium-drilling campaigns in the state's history. The company's all-U.S. portfolio positions it squarely within the critical-minerals and energy-security policy narrative shaping domestic uranium development and offtake decisions.

Western Uranium & Vanadium is a CSE- and OTC-listed developer focused on hard-rock uranium and vanadium deposits in Colorado's historic Uravan Mineral Belt. Its flagship asset is the Sunday Mine Complex, a conventional underground operation that has historically produced uranium and vanadium and is now being ramped up for co-production of both metals. The company also controls the Pinon Ridge Mill site in Colorado, home to a fully permitted but not yet constructed uranium-vanadium processing facility whose future activation would create significant value as a potential regional toll-milling hub. Western's hard-rock, underground-mine model and vanadium co-product stream distinguish it from the ISR-dominated U.S. uranium landscape.

Geiger Energy Corporation is a Canadian uranium explorer active in Saskatchewan's Athabasca Basin and Nunavut's Thelon Basin, formed from Baselode Energy's merger with Forum Energy Metals and a rebrand in late 2025. The merger added the 100%-owned Aberdeen project in the Thelon Basin, host to the Tatiggaq and Qavvik discoveries, alongside the Hook project in northern Saskatchewan, which hosts the ACKIO near-surface uranium discovery, a basement-hosted, shallow-depth system extending over roughly 375 metres along strike and 150 metres in width, with multiple uranium pods beginning around 28–50 metres depth. Geiger is advancing ACKIO through a focused winter-drilling program designed to expand the known pods, test along-strike extensions, and evaluate additional alteration-rich target areas such as the TT trend, while maintaining a broader, large-acreage, low-cost land position in the Athabasca region.