With a new CEO, promising indicators, and a world that needs what they can find, Traction Uranium (TRAC) are the explorers of the energy sector’s future.
Uranium stands to be the linchpin of the energy sector. Nuclear is making its name as the clear juggernaut for clean energy, and the resource behind it – uranium – is making for a bullish summer. Traction Uranium (TRAC), led by CEO Lester Esteban, holds a stake in the uranium-rich land of Saskatchewan’s Athabasca region. World events driving the need for nuclear power – and uranium to fuel it – Traction Uranium explores the frontier of energy’s future.
Around the world, decarbonization and green energy are a rallying cry for governments, businesses, and consumers alike. 2015’s Paris Accord made this clear at the highest level, and results are already apparent as energy sector leaders answer the call. Renewables – such as solar and wind – are making strides, but their capacity to store energy is not ideal for a world that needs 24/7 access to electricity. If the future of energy is to be green – as the Paris Accord has outlined – it will be thanks to nuclear power fueled by uranium.
Other factors driving the need for uranium-based energy are less uplifting. Russia’s war in Ukraine forces Europe to reevaluate its dependence on natural gas. Amongst countless atrocities committed on Putin’s march to Kyiv, another came when Moscow cut Polland’s supply of Russian gas, accounting for a critical 11% of the country’s energy supply. In the eyes of the European Union, reliance on natural gas is becoming an “instrument of blackmail” for Putin. The world needs an alternative to fossil fuels – fast. Uranium driven nuclear energy is a clear candidate, as the nations surrounding Poland wonder who will be cut off next.
Traction Uranium is a publicly traded company and represents a great opportunity for investors to get in on the growing market for uranium. Traction’s CEO, Lester Esteban, joined the company in March with no doubts about going all-in on uranium. With decarbonization goals to achieve and Russia taking its ball and going home when it comes to uranium, Lester says “we’re just going to need it.”
Esteban brings 15 years of experience in processing, metallurgy, and flotation in the chemical and mining industries. After years of following the uranium market and keeping a watchful eye on the prominent interest it has collected in the last few years, Esteban comes to Traction with a clear vision of the mineral’s potential.
Setting Traction apart from others in uranium mining is their exploration into Saskatchewan’s Athabasca Region. The Athabasca basin averages 2% grades comparable globally to regions that average around 0.1% to 0.2%. The Athabasca basin is home to 10 of the 15 highest-grade uranium mines in the world, and investors worldwide seek to back projects in the Athabasca Basin.
Traction is taking a leading role in the exploration of this uranium breadbasket located in northern Saskatchewan. Two projects – one in Hearty Bay and the other in Lazy Edward Bay – promise uranium yields that the energy sector is hungry for.
The exploration of Hearty Bay wrapped up recently, culminating in 429 core samples currently under review by the Saskatchewan Research Council (SRC). Within a couple of months, the SRC will return data to Traction that will indicate new targets for the exploration company’s 2023 winter drill program, putting them on pace with the short window for execution while ice roads open up in January and February.
Lazy Edward Bay is what has CEO Lester Esteban most excited about Traction’s efforts in the Athabasca. Esteban is pleased to report that the site is drill ready, as much of the exploration work – ground geophysics, sampling, and analysis done to find drill sites – was accomplished before the market for uranium was slowed by 2011’s Fukushima nuclear disaster. Now, as uranium bounces back stronger than before, Traction prepares to begin drilling at Lazy Edward Bay in May.
Traction finds a jurisdiction in Saskatchewan that is welcoming to the work they are doing. A mining-friendly province in Canada, Saskatchewan has a long history of fruitful mineral gains. The infrastructure is there and ready in the Athabasca for Traction to make the many logistics of uranium exploration work. Both Hearty Bay and Lazy Edward Bay are zoned for mining, and with nuclear power driving clean energy goals, that reality is here to stay.
Uranium is the key ingredient of a productive nuclear reactor, and more and more reactors are becoming integral contributors to global power grids. Reactor technology only improves, learning from the past, and new cooling standards have led to plants being more reliable than ever before. Investors – the likes of Gates and Buffet – are looking into new ventures on the reactor side. What the market needs is uranium explorers to unlock the supply that has been hiding in the ground.
Traction leads this charge, and the results out of the Athabasca should have any backer excited.
Media Contact:
Chris Hughes, Writer
chris@mindfulmediapr.com
