The dramatically improved uranium spot price of recent weeks has prompted Canadian junior Pegasus Resources to re-evaluate uranium assets.
The company announced on Monday that it was reviewing several uranium assets in, and near, the Athabasca basin of northern Saskatchewan.
Pegasus has either previously examined the assets prior to the sale of its last uranium assets to Rio Tinto in 2018, or some are new to the company, CEO Charles Desjardins said in a statement.
Uranium prices have surged about 60% in the last month on the back of purchases by Canada’s Sprott Physical Uranium Trust. Prices last week touched $50/lb for the first time since 2012.
The fund, which was launched in July, has bought more than 28-million pounds of uranium.
Pegasus’ current focus is zinc and base metals properties.