GTI Energy Ltd (ASX:GTR, OTC:GTRIF)’s CEO Bruce Lane sat down with Proactive’s Andrew Scott to discuss the company’s upcoming uranium exploration plans in Wyoming and the market trends for the wider uranium industry.
The company drilling campaign is set to kick off on November 1, conditional upon receiving the last of the required approvals and favourable weather conditions.
During the interview, Lane mentioned that GTI is awaiting final geophysics and radiometric results,.
"We've just got one final approval on our drilling permits, and we're hoping we can start around about the first of November with our drilling campaign at Lo Herma," said Lane.
Industry trends
Discussing industry trends, Lane states that the spot price for uranium is aligning with production costs.
However, he added, "The valuations are still not where they need to be to genuinely incentivise exploration."
He stressed that the rising spot prices are long overdue and are now beginning to properly reflect the real costs of uranium production.
Why GTI Energy ?
When asked why investors should consider GTI Energy, Lane pointed out two key factors,
- Firstly, the company is situated in the United States, which is the world's largest buyer of uranium, consuming between 47 to 50 million pounds annually.
- Secondly, GTI Energy is focused on in situ recovery, the least costly and environmentally impactful method of uranium mining.
$GTR GTI Energy first ASX-listed uranium company to achieve carbon neutral certification; on-track for Lo Herma drilling https://t.co/lbk6ub2LB8 @ltd_gti $GTRIF #GTR #GTRIF #ASX #ASXNews— Proactive Australia (@proactive_au) September 27, 2023
"We're targeting the lowest cost of the lowest environmental impact form of mining, and we're in Wyoming, which is the home of in situ recovery mining," Lane elaborated.
Lane expressed confidence in the company's direction, emphasising their strategic positioning in the US market and their focus on sustainable mining practices.