Fission Uranium
Primary tickers: TSX:FCU, OTCQX:FCUUF, FSE:2FU
Stage of development: Development
Primary mineral: Uranium
Project to promote: Patterson Lake South (PLS) – Triple R Deposit
Project location: Athabasca Basin, Canada
Website: fissionuranium.com
Corporate presentation: Click here
Fission Uranium is developing the high-grade, basement-hosted, near-surface Triple R uranium deposit – part of the multiple award-winning PLS project. Located on the southwestern edge of the renowned Athabasca Basin uranium district in northern Saskatchewan, Canada, PLS hosts the largest mineralized trend in the region, and is one of the few uranium projects advanced enough to enter production this cycle.
The company has completed a rigorous Feasibility Study showing the potential for the Triple R to be among the lowest operating cost uranium mines in the world. Fission Uranium continues to hit development milestones on time and on budget and is ideally positioned to continue developing the project through the permitting, engineering and community engagement phases and on to production.
Fission has developed strong relationships with all local rights’ holders and stakeholders thanks to consistent, transparent communication and a robust approach to environmental stewardship. It has adopted the core principles of ESG as a guideline for how it operates to the highest standards.
Cash: C$146.1M (June 30, 2024)
Debt: NIL
Major shareholders:
Retail – 44.8%
Institutions – 42.1%
China General Nuclear Power – 13.1%
Financials
Management Profile
Ross McElroy
President and CEO
Mr. McElroy is a professional geologist with over 35 years of experience in the mining industry. He is the winner of the 2014 PDAC Bill Dennis award for exploration success and the Northern Miner ‘Mining Person of the Year’. He has comprehensive experience with working and managing many types of mineral projects from the grass roots exploration to feasibility and production.
Mr. McElroy has held senior technical and executive positions with both major and junior mining companies, which include BHP Billiton, Cogema Canada, and Cameco. He was a member of the early stage discovery team of the giant MacArthur River uranium deposit.
Mr. McElroy was a key part of the hugely successful Fission Energy Corp. team as President, COO and Chief Geologist. He headed up the technical team that made the discovery at Waterbury Lake, SK and Fission Uranium Corp.’s Triple R deposit at its PLS project. Mr. McElroy assumed the role of CEO in September 2020.
Mr. McElroy received a Bachelor’s Degree in Science, with a Specialization in Geology from the University of Alberta in 1987 and is a registered professional geologist in Saskatchewan, British Columbia and Nunavut/Northwest Territories.
What is your rationale for taking part 121 Mining Investment?
To provide an update on the Company’s plans for advancing the Triple R deposit following the feasibility study announcement and beyond, and to communicate directly with investors.