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Western Uranium & Vanadium Corp. (WUC.CN)

Canadian Sec - Canadian Sec Real Time Price. Currency in CAD
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1.5500+0.0500 (+3.33%)
As of 11:17AM EST. Market open.
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Neutralpattern detected
Previous Close1.5000
Open1.5400
Bid1.5000 x 0
Ask1.5500 x 0
Day's Range1.5000 - 1.5700
52 Week Range0.2450 - 1.6000
Volume19,033
Avg. Volume89,864
Market Cap46.63M
Beta (5Y Monthly)0.22
PE Ratio (TTM)N/A
EPS (TTM)-0.0860
Earnings DateN/A
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateN/A
1y Target EstN/A
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    • Western Uranium & Vanadium Corp. Closes Non-Brokered Private Placement
      GlobeNewswire

      Western Uranium & Vanadium Corp. Closes Non-Brokered Private Placement

      Toronto, Ontario and Nucla, Colorado, Feb. 16, 2021 (GLOBE NEWSWIRE) -- Western Uranium & Vanadium Corp. (CSE: WUC) (OTCQX: WSTRF) (“Western” or the ”Company”) is pleased to announce the closing of a non-brokered private placement (the “Private Placement”) of 3,250,000 units (the ”Units”) at a price of CAD$0.80 per Unit. The aggregate gross proceeds raised in this Private Placement amount to CAD$2,600,000. Each Unit consists of one common share of Western (a "Share") plus one common share purchase warrant of Western (a “Warrant”). Each Warrant shall entitle the holder to purchase one Share at a price of CAD$1.20 per Share for a period of three years following the closing date of the Private Placement. A total of 3,250,000 Shares and 3,250,000 Warrants are being issued in the Private Placement. The Warrants contain a provision that if the Company’s Shares trade at or above CAD$2.40 per Share for 10 consecutive trading days, the Company may, at any time after the expiry of the applicable statutory hold period, accelerate the expiration of the Warrants upon not less than 30 days’ written notice by the Company (the “Acceleration Clause”). The Company anticipates that the net proceeds of the Private Placement will be used to secure value-added opportunities, fund follow-on work at the five mines comprising the Sunday Mine Complex, the exploration and development of a second production center and for general corporate and working capital purposes. In connection with the Private Placement, the Company is paying CAD$123,000 in finder’s fees plus 153,750 compensation warrants exercisable for three years, each warrant being exercisable at CAD$0.94 per Share of the Company. The compensation warrants are subject to the Acceleration Clause. Red Cloud Securities Inc. has acted as a finder with respect to the Private Placement. Securities issued pursuant to the Private Placement shall be subject to a minimum six (6) month hold period. The closing of the Private Placement remains subject to final regulatory approval. The securities offered and sold have not been registered under the U.S. Securities Act of 1933 and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements. About Western Uranium & Vanadium Corp. Western Uranium & Vanadium Corp. is a Colorado based uranium and vanadium conventional mining company focused on low cost near-term production of uranium and vanadium in the western United States, and development and application of kinetic separation. Cautionary Note Regarding Forward-Looking Information: Certain information contained in this news release constitutes “forward-looking information” or a “forward-looking statements” within the meaning of applicable securities laws (collectively, “forward-looking statements”). Statements of that nature include statements relating to, or that are dependent upon: the Company’s expectations, estimates and projections regarding exploration and production plans and results; the timing of planned activities; whether the Company can raise any additional funds required to implement its plans; whether regulatory or analogous requirements can be satisfied to permit planned activities; and more generally to the Company’s business, and the economic and political environment applicable to its operations, assets and plans. All such forward-looking statements are subject to important risk factors and uncertainties, many of which are beyond the Company’s ability to control or predict. Please refer to the Company’s most recent Management’s Discussion and Analysis, as well as its other filings at www.sec.gov and/or www.sedar.com, for a more detailed review of those risk factors. Readers are cautioned not to place undue reliance on the Company’s forward-looking statements, and that these statements are made as of the date hereof. While the Company may do so, it does not undertake any obligation to update these forward-looking statements at any particular time, except as and to the extent required under applicable laws and regulations. FOR ADDITIONAL INFORMATION, PLEASE CONTACT:George Glasier President and CEO 970-864-2125 gglasier@western-uranium.com Robert KleinChief Financial Officer908-872-7686rklein@western-uranium.com

    • Western Uranium & Vanadium Corp. 2021 Update
      GlobeNewswire

      Western Uranium & Vanadium Corp. 2021 Update

      Toronto, Ontario and Nucla, Colorado, Jan. 13, 2021 (GLOBE NEWSWIRE) -- Western Uranium & Vanadium Corp. (CSE:WUC) (OTCQX:WSTRF) (“Western” or ”Company”) would like to provide the following update. Entering 2021, Western is excited about our competitive position, market opportunities, and the prospects for nuclear energy and uranium mining.Sunday Mine Complex Ready for Production Restart Western’s Sunday Mine Complex project during 2019/2020 established the mines are in “ready-to-produce” status. These permitted and developed conventional mines can be restarted with minimal capital expenditure. The first uranium/vanadium ore production was stockpiled underground and remains ready for delivery when COVID-19 and market conditions permit.U.S. Nuclear Industry Continues to Perform and InnovateThe nuclear power industry responded to the challenges of COVID-19 as nuclear power generation set performance records and no reactors were shut down by pandemic challenges. The United States made large strides as the Nuclear Regulatory Commission extended reactor operating lives and the Department of Energy (“DOE”) championed over 50 domestic developers pursuing advanced nuclear technologies. Promising innovations included advanced nuclear power reactors, small modular reactors, microreactors, a versatile test reactor, accident tolerant fuels, and byproduct production of hydrogen. The Advanced Reactor Demonstration Program awarded over $200 million to 10 teams for development, demonstration, and construction of new reactor designs. While COVID-19 had society in lockdowns, the nuclear industry was ramping up baseload power production and progressing toward its next generation.Global Uranium Supply Imbalance Continues to GrowThe pandemic had the opposite impact on uranium mining, the source of nuclear fuel. COVID-19 caused global supply-side mining disruptions due to mine shutdowns. This led to the lowest uranium production in over a decade, and created a global supply deficit where production was only about 2/3rds of consumption. The world’s three largest uranium producers were forced to buy in the spot market to meet contracts, drawing down available spot inventory. Supply will decline further when two mines, that avoided temporary shutdown, permanently close in early 2021. During 2020, COVID-19 significantly decreased uranium supply quantities resulting in an increased uranium spot price above $30 per pound.Global Uranium Demand Fundamentals Continue to ImproveGlobally there are about 50 large-scale nuclear reactors under construction with 15 projected to be put into service in 2021. Most are being built using Russian or Chinese technology. Many are in countries with an urgent need for de-carbonization to improve air quality. China currently has an operating fleet of about 50 nuclear reactors and is targeting the construction of 6 to 8 new large scale reactors each year. The “Electrification of Everything” trend is prominent in the transportation sector. Rapid advancements in battery technology are decreasing costs and increasing driving range such that electric vehicles (EVs) are projected to soon overtake internal combustion engine vehicles. There are currently 20 countries with almost 70 advanced reactor designs under development. This next generation of nuclear power will provide new solutions for countries in energy poverty. These trends highlight increases in electricity consumption and the expansion of nuclear energy production which will increase global nuclear fuel requirements.U.S. Government Secures Domestic Nuclear Fuel CycleDuring the past four years, the U.S. government focused on market distortions caused by foreign state-owned enterprises and the economic and geopolitical influence lost by allowing Russia and China to take the lead in nuclear power. In support of the world’s largest nuclear reactor fleet, the U.S. has begun implementing the recommendations of the Nuclear Fuel Working Group and has extended the Russian Suspension Agreement. The national strategic uranium reserve was signed into law to stabilize the U.S. nuclear fuel cycle by supporting front-end domestic uranium mining. The DOE is establishing program guidelines to initiate 2021 purchases of $75 million of domestic uranium. The U.S. government pursued the goals of energy independence, solidifying critical minerals supply chains, and national security. This increased domestically sourced nuclear fuel requirements.Clean Energy Future Enhanced By New Nuclear CapabilitiesThe Biden Administration’s “Plan to Build a Modern Sustainable Infrastructure and an Equitable Clean Energy Future” emphasizes climate change solutions. The Biden team has stated it will immediately rejoin the Paris Climate Accord and has made campaign promises of pursuing investments in clean energy, creating jobs producing clean electric power, and achieving carbon-pollution free energy in electricity generation by 2035. The existing U.S. nuclear reactor fleet currently produces in excess of 50% of U.S. clean energy, and new advanced nuclear technologies promise to generate additional clean energy. The announced infrastructure spending for a post-pandemic recovery will provide a major boost to clean energy and the nuclear industry will be a beneficiary. We expect a reversal of the Trump Administration’s energy policies that allowed fossil fuel power plants to undersell clean energy generation. Going forward we expect utilities to be compensated for generating carbon-free power. The increase in nuclear power generation will increase nuclear fuel requirements of the domestic nuclear reactor fleet.ConclusionIn a world that is bullish on commodities with a multitude of catalysts supporting nuclear power and increasing nuclear fuel requirements but constrained by uranium supply limitations, our expectation is for a strong 2021 with momentum increasing in the years to come as new nuclear technologies are deployed. Western remains positioned to quickly restart production once profitable opportunities to do so become available in this growing market.About Western Uranium & Vanadium Corp. Western Uranium & Vanadium Corp. is a Colorado based uranium and vanadium conventional mining company focused on low cost near-term production of uranium and vanadium in the western United States, and development and application of kinetic separation.Cautionary Note Regarding Forward-Looking Information: Certain information contained in this news release constitutes “forward-looking information” or a “forward-looking statements” within the meaning of applicable securities laws (collectively, “forward-looking statements”).  Statements of that nature include statements relating to, or that are dependent upon: the Company’s expectations, estimates and projections regarding exploration and production plans and results; the timing of planned activities; whether the Company can raise any additional funds required to implement its plans;  whether regulatory or analogous requirements can be satisfied to permit planned activities; and more generally to the Company’s business, and the economic and political environment applicable to its operations, assets and plans. All such forward-looking statements are subject to important risk factors and uncertainties, many of which are beyond the Company’s ability to control or predict. Please refer to the Company’s most recent Management’s Discussion and Analysis, as well as its other filings at www.sec.gov and/or www.sedar.com, for a more detailed review of those risk factors.  Readers are cautioned not to place undue reliance on the Company’s forward-looking statements, and that these statements are made as of the date hereof. While the Company may do so, it does not undertake any obligation to update these forward-looking statements at any particular time, except as and to the extent required under applicable laws and regulations.FOR ADDITIONAL INFORMATION, PLEASE CONTACT: George Glasier                                                                       President and CEO                                                      970-864-2125                          gglasier@western-uranium.com                               Robert Klein Chief Financial Officer 908-872-7686 rklein@western-uranium.com

    • Western Uranium & Vanadium Corp. Oil and Gas Lease Update
      GlobeNewswire

      Western Uranium & Vanadium Corp. Oil and Gas Lease Update

      Toronto, Ontario and Nucla, Colorado, Jan. 06, 2021 (GLOBE NEWSWIRE) -- Western Uranium & Vanadium Corp. (CSE:WUC) (OTCQX:WSTRF) (“Western” or ”Company”) would like to provide the following market update regarding its Weld County Colorado oil and gas lease, to clarify its attributes as its status has been the subject of investor speculation.In 2015, the Company acquired Black Range Minerals Limited (“Black Range”) which owned, among other assets, a non-core Weld County Colorado property called the Bullen Property. Black Range’s Keota Uranium Project ran from 2008 to 2013, and at its peak there were five strategic interests which comprised approximately 3,300 acres in the Keota Uranium District. After the project ceased, the Bullen Property’s 160 acres were the only acreage retained by Black Range in Weld County.  The Bullen Property is located within the Denver-Julesburg Basin (D-J Basin) giving it an oil and gas mineral value. In 2017, the full 160 acres were leased under a three year oil and gas lease for a $120,000 bonus payment to the Company.  In 2020, a three year extension of the lease was exercised for an additional bonus payment of $180,000. Notably, the lease agreement allows the Company to retain property rights to 139 surface acres and vanadium, uranium, and other mineral resources.During 2020 Bison Oil & Gas traded this lease to Mallard Exploration (“Mallard”), Mallard filed an application with the Colorado Oil & Gas Conservation Commission ("COGCC") for a new order to establish a drilling and spacing unit and set the maximum number of horizontal wells that may be drilled. The field rules were approved on August 24, 2020 (COGCC Order No. 535-1325). This order pooled five adjoining parcels into a 3,200 acre pooled unit (“Unit”) and set the maximum number of wells at 24. A total of 16 wells have been permitted in the Unit, and Mallard is currently in the process of drilling 8 wells in the southern portion of the Unit. These wells are expected to be completed and begin production by the 3rd quarter. If the southern wells are successful, then it is likely Mallard will proceed to drill the next set of 8 wells in the northern portion of the Unit.The Company has a 5% (160 acres / 3,200 acres) participation on all oil and gas production within the Unit. For all oil and gas substances that are physically produced and sold, a royalty of three-sixteenth (3/16th) of the sales proceeds will be payable under the lease. However, as a result of a 2019 lawsuit regarding the Weld County Colorado deed language, the Company settled by awarding the plaintiff a non-participating royalty interest of one-eighth (1/8th) of all hydrocarbon and non-hydrocarbon substances that are produced and sold from this property.  If operator targets are met, royalty payments could begin in the 4th quarter.Although royalties from Western’s interest could potentially be sizable over the long-term, the value of Western’s oil and gas interest is not currently considered material to the Company’s valuation relative to its core uranium and vanadium resources.About Western Uranium & Vanadium Corp. Western Uranium & Vanadium Corp. is a Colorado based uranium and vanadium conventional mining company focused on low cost near-term production of uranium and vanadium in the western United States, and development and application of kinetic separation.Cautionary Note Regarding Forward-Looking Information: Certain information contained in this news release constitutes “forward-looking information” or a “forward-looking statements” within the meaning of applicable securities laws (collectively, “forward-looking statements”).  Statements of that nature include statements relating to, or that are dependent upon: the Company’s expectations, estimates and projections regarding exploration and production plans and results; the timing of planned activities; whether the Company can raise any additional funds required to implement its plans;  whether regulatory or analogous requirements can be satisfied to permit planned activities; and more generally to the Company’s business, and the economic and political environment applicable to its operations, assets and plans. All such forward-looking statements are subject to important risk factors and uncertainties, many of which are beyond the Company’s ability to control or predict. Please refer to the Company’s most recent Management’s Discussion and Analysis, as well as its other filings at www.sec.gov and/or www.sedar.com, for a more detailed review of those risk factors.  Readers are cautioned not to place undue reliance on the Company’s forward-looking statements, and that these statements are made as of the date hereof. While the Company may do so, it does not undertake any obligation to update these forward-looking statements at any particular time, except as and to the extent required under applicable laws and regulations.FOR ADDITIONAL INFORMATION, PLEASE CONTACT:George Glasier                                                                       President and CEO                                                      970-864-2125                          gglasier@western-uranium.com                                Robert Klein Chief Financial Officer 908-872-7686 rklein@western-uranium.com