“We’re in project Manhattan 2.0”, uranium CEO says

Industry Overview - The US requires an estimated 32 million pounds of uranium annually for its nuclear reactors, with Russia supplying about 25% of the enriched uranium needed [2][3] - In 2024, the US purchased 50 million pounds of uranium but only produced 677,000 pounds, highlighting a significant supply deficit [3] - The demand for nuclear energy is expected to rise significantly, with projections indicating energy usage could triple by 2050 due to advancements in AI and other technologies [7][11] Company Developments - Eagle Energy Metals is set to go public through a merger with Spring Valley Acquisition Corp, with a pro-forma equity value of $312 million [5] - The company acquired the Aurora uranium project in 2024, which is claimed to be the largest mineable uranium deposit in the US, with over 50 million pounds of uranium identified [5][6] - Eagle Energy Metals is also developing small modular reactor (SMR) technology, which is designed to be portable and safe, capable of delivering up to 3.3 megawatts of power [9][10] Strategic Importance - The company emphasizes the need for domestic uranium supply to support national energy independence and security, aligning with US policy initiatives [11] - The projected increase in uranium demand from 50 million pounds to 200 million pounds by 2050 underscores the urgency for resource exploration and development [11] - The focus on environmental and cultural studies, along with a prefeasibility study planned for H2 2026, indicates a commitment to responsible resource development [11]