Core Viewpoint - Cosa Resources Corp. has commenced drilling at its Darby project and plans to follow up with drilling at Murphy Lake North, both located in the eastern Athabasca Basin, Saskatchewan, as part of a joint venture with Denison Mines Corp. [1][12] Group 1: Drilling Plans - Approximately 2,500 metres of drilling are planned at the Darby project in winter 2026 to test priority targets identified from a 2025 core relogging and reinterpretation program [2] - Drilling at Murphy Lake North will comprise approximately 1,200 metres, targeting a gap in existing drilling and testing a potential trend parallel to the Cyclone trend [3] Group 2: Project Details - The Darby project is located 10 kilometres west of Cameco's Cigar Lake Mine and has multiple prospective conductive trends with historical intersections of weak uranium mineralization [5] - Murphy Lake North is situated 2.7 kilometres east of the Hurricane deposit, which is known for being the world's highest-grade indicated uranium resource [6] Group 3: Joint Venture and Strategic Collaboration - Cosa holds a 70% interest in both the Darby and MLN projects, with Denison holding the remaining 30% [1][12] - In January 2025, Cosa entered a strategic collaboration with Denison Mines, securing access to additional highly prospective uranium exploration projects in the eastern Athabasca region [10]

Group 1: Market Overview - Global equity markets showed strong performance in Q4 2025, supported by easing inflation and positive economic data [1] - The Hardman Johnston Global Equity Strategy achieved a return of 2.91%, while the MSCI AC World Net Index gained 3.29% [1] - The Financials and Consumer Staples sectors contributed positively to the strategy's performance, whereas the Industrials and Consumer Discretionary sectors detracted from it [1] Group 2: Cameco Corporation Highlights - Cameco Corporation (NYSE:CCJ) was identified as a new holding in the Hardman Johnston Global Equity Strategy [2][3] - The stock of Cameco Corporation experienced a one-month return of 37.69% and a 52-week gain of 151.59%, closing at $125.97 per share with a market capitalization of $55.005 billion on January 27, 2026 [2] - The company is a leading player in uranium production and has a 49% stake in Westinghouse, enhancing its position in the nuclear sector [3] Group 3: Strategic Insights on Cameco Corporation - The shift in uranium sourcing away from Russia post-Ukraine invasion positions Cameco favorably to benefit from this structural change [3] - The global resurgence in nuclear development, driven by AI's energy demands and the low carbon benefits of nuclear power, is expected to enhance Cameco's earnings potential [3] - A significant agreement between Westinghouse and the U.S. Department of Commerce aims to support $80 billion in new nuclear reactor construction by 2030, which is anticipated to materially increase Cameco's earnings power [3]

Core Viewpoint - The global uranium narrative has shifted from potential to immediate necessity as nuclear power gains traction in the energy mix, prompting investors to focus on companies that can effectively transition from discovery to production [1] Company Overview - Alligator Energy (ASX:AGE) is positioned as a leading near-term uranium developer in Australia, with significant exploration potential and a strong management team experienced in delivering tier-one projects [3][16] - The company operates in South Australia, the only state in Australia currently producing uranium, which provides a favorable regulatory environment and a clear pathway to project approval [4][5] Project Development - Alligator's flagship project, Samphire, is advancing towards production using In-Situ Recovery (ISR) technology, which is responsible for approximately 60% of global uranium production [8] - The commissioning of the pilot plant for the Field Recovery Trial (FRT) is scheduled for mid-February, marking a significant de-risking event that will validate previous studies and provide data for the upcoming Bankable Feasibility Study [9][10] Resource Potential - The Samphire project currently has a Mineral Resource Estimate of 18 million pounds (Mlbs) of uranium concentrate, with an Exploration Target ranging from 14Mlbs to 75Mlbs U₃O₈, indicating substantial growth potential as only 28% of known paleochannels have been drill-tested [11][12] Recent Discoveries - In 2024, Alligator made a significant discovery at Big Lake, recognized as the "Discovery of the Year" at the 2025 Australian Mining Prospect Awards, highlighting its potential to become a major ISR uranium field [14] - A new drilling campaign at Big Lake is set to begin in early March to expand on previous findings [15] Leadership and Experience - The leadership team, led by Dr. Andrea Marsland-Smith, has a proven track record in uranium mining, including securing approvals and managing large-scale operations [16][17][18] Upcoming Milestones - Key upcoming milestones include the commissioning of the pilot plant in February, initial FRT results in early March, and an update to the Mineral Resource Estimate for Samphire in April [19][22]

Core Viewpoint - IsoEnergy Ltd. has successfully completed a bought deal financing and a non-brokered private placement, raising a total of C$25,000,005 through the issuance of 1,666,667 common shares at C$15.00 per share to NexGen Energy Ltd. [1][2] Group 1: Financing Details - The proceeds from the Concurrent Private Placement will be utilized for the continued development and exploration of the Company's mineral properties, as well as for general corporate purposes [2] - The Concurrent Private Placement allows NexGen to maintain its ownership interest in IsoEnergy at approximately 30% post-offering [3] - The shares issued are subject to a statutory hold period of four months and one day following the closing of the Concurrent Private Placement, with no commissions or fees payable [3] Group 2: Company Overview - IsoEnergy is a globally diversified uranium company with significant mineral resources in Canada, the U.S., and Australia, providing leverage to rising uranium prices [6] - The Company is advancing its Larocque East project in Canada's Athabasca basin, which contains the world's highest-grade indicated uranium mineral resource [6] - IsoEnergy also holds a portfolio of permitted past-producing uranium and vanadium mines in Utah, which are on standby for rapid restart as market conditions improve [6]

Core Viewpoint - IsoEnergy Ltd. has successfully closed a bought deal financing, raising C$57,501,150 through the sale of 3,833,410 common shares at C$15.00 per share, which includes the full exercise of the over-allotment option [1] Group 1: Financing Details - The offering was led by a syndicate of underwriters including Stifel Canada, Canaccord Genuity Corp., and Jett Capital Advisors, LLC [1] - Proceeds from the offering will be utilized for the continued development and exploration of the company's mineral properties, as well as for general corporate purposes [2] Group 2: Company Overview - IsoEnergy is a globally diversified uranium company with significant mineral resources in Canada, the U.S., and Australia, providing leverage to rising uranium prices [4] - The company is advancing its Larocque East project in Canada's Athabasca basin, which contains the world's highest-grade indicated uranium mineral resource [4] - IsoEnergy also holds a portfolio of permitted past-producing uranium and vanadium mines in Utah, which are on standby for rapid restart as market conditions improve [4]

Core Insights - The uranium industry is experiencing a significant boom due to favorable regulations promoting domestic nuclear power, leading to substantial share price increases for major uranium miners like Cameco Corp., which has seen a 161% rise in the past year [3] - By 2026, the uranium market is expected to face a demand surge that exceeds production levels, creating a potential investment opportunity as the supply squeeze is likely to drive uranium prices higher [4] Industry Overview - Several uranium mining companies have seen their shares more than double in the last year, driven by easing regulations and a supply squeeze [6] - The Sprott Junior Uranium Miners ETF (URNJ) has increased by 89% over the last year, providing investors with exposure to smaller uranium producers that may benefit from regulatory easing [6] Investment Opportunities - Investors may consider ETFs like URNJ or URNM to capitalize on strong demand, as these funds offer access to a variety of uranium producers and attractive dividend yields [7] - URA is highlighted as one of the oldest and largest uranium ETFs, maintaining its appeal due to its performance record, fees, and dividend yield [7]

Industry Overview - Utah's "Mission Critical" strategy aims to establish the state as the leading destination for critical mineral extraction and processing in the U.S. by approving five mining projects in 2026 and bringing a national lab by 2031 [1] - The U.S. Government has added uranium to its list of critical minerals, recognizing its importance to the economy, which may influence federal and state policies [2] Company Positioning - Terra Clean Energy Corp. is focused on developing its portfolio of U.S. uranium assets, particularly in Utah, to benefit from the new legislation [2] - The company is currently developing the South Falcon East uranium project, which contains an inferred resource of 6.96 million pounds of uranium within the Fraser Lakes B Deposit in Saskatchewan, Canada [3] - Terra also holds past producing uranium mines in Utah and exploration properties in Wyoming, enhancing its strategic positioning in the uranium market [3] Strategic Goals - "Mission Critical" aims to capture 25% of the critical mineral market share, reduce permitting timelines by 50%, and ensure that 50% of minerals extracted in Utah are processed within the state [2] - The CEO of Terra Clean Energy Corp. anticipates that 2026 will be a pivotal year for uranium, with a focus on expanding its uranium claims in Utah [2]

Core Insights - Terra Clean Energy Corp. supports Utah's "Mission Critical" strategy for critical minerals, aiming to make Utah the leading destination for mineral extraction and processing in the U.S. [1] - The strategy includes the approval of five mining projects in 2026 and the establishment of a national lab by 2031 [1][2] - Uranium has been added to the U.S. Government's critical minerals list, which is expected to influence federal and state policies [2] Company Overview - Terra Clean Energy Corp. is a Canadian uranium exploration and development company, currently developing the South Falcon East uranium project with an inferred resource of 6.96 million pounds of uranium [3] - The company also has past producing uranium mines in Utah and exploration properties in Wyoming [3] Industry Context - The "Mission Critical" initiative aims to capture 25% of the critical mineral market share and reduce permitting timelines by 50% [2] - The initiative also seeks to ensure that 50% of minerals extracted in Utah are processed within the state [2] - CEO Greg Cameron believes that 2026 will be a pivotal year for uranium, with a focus on expanding Terra's portfolio of U.S. uranium assets, particularly in Utah [2]

Core Insights - Bayridge Resources Corp. has appointed Mark Richardson as Vice President of Exploration to lead the exploration activities for the Baker Lake Uranium Project in 2026 [1][2] Company Overview - Bayridge Resources Corp. is focused on advancing a portfolio of Canadian uranium projects, with its flagship Baker Lake Uranium Project comprising 83 contiguous claims covering 619 km² in Nunavut's Kivalliq Region [5] - The Baker Lake project has outlined a 75-km unconformity with multiple uranium targets supported by modern airborne geophysics and drilling [5] Leadership Appointment - Mark Richardson is a Professional Geoscientist with over 10 years of experience in mineral exploration, having led various successful early-stage discoveries [2] - His expertise includes overseeing exploration strategy, permitting, field execution, drilling programs, and technical reporting across projects at different stages [2] - Richardson's appointment is expected to enhance Bayridge's exploration efforts, leveraging a robust historical data suite, including over 7500-line km of airborne Tempest® geophysical survey data from 2008 [3] Exploration Strategy - The company aims to advance disciplined target generation and capital deployment, translating technical data into executable exploration strategies under Richardson's leadership [2][3] - The long-term outlook for uranium is described as increasingly strong, driven by growing demand for clean baseload energy and tightening global supply [3] Stock Options - Bayridge has granted 1,500,000 incentive stock options to certain directors, officers, consultants, and advisors, which vest immediately and are exercisable at a price of $0.20 until January 27, 2031 [4]

Core Viewpoint - Alligator Energy is transitioning into a significant developer in the uranium sector, with its flagship project Samphire being a key asset in this evolution, supported by a well-defined resource [1]. Group 1: Company Developments - Alligator Energy is preparing to activate a plant and commence a field recovery trial at the Samphire project [2]. - The company anticipates significant potential to increase its resource over time [2]. - Alligator is also exploring the Big Lake project in the Cooper Basin, which is expected to be a promising ISR-style uranium province in South Australia [2].