- Nuclear Fuels Inc. (NFUNF, Financial) begins its 2025 drilling at the Kaycee Uranium Project in Wyoming, planning 100,000 feet of drilling.
- Successful 2024 discoveries include two new uranium zones: Outpost Zone and Trail Dust Zone.
- Strategic merger announced with Premier American Uranium, with 41% ownership for Nuclear Fuels shareholders post-merger.
Nuclear Fuels Inc. (NFUNF) has officially commenced its 2025 drilling program at the Kaycee Uranium Project located in Wyoming's Powder River Basin. The initiative is set to include a minimum of 100,000 feet of rotary mud drilling. This follows the company's successful 2024 drilling campaign, which resulted in the discovery of two promising uranium mineralization zones: the Outpost Zone, featuring 0.082% eU3O8 over 6.5 feet, and the Trail Dust Zone with 0.0553% eU3O8 over 5.5 feet. These findings bolster the project's potential for further uranium discovery and development.
Additionally, Nuclear Fuels has entered into a definitive merger agreement with Premier American Uranium Inc. Under the terms of the agreement, Premier will acquire all outstanding shares of Nuclear Fuels, with shareholders receiving 0.33 shares of Premier for each Nuclear Fuels share held. The transaction, anticipated to close in the third quarter of 2025, will result in Premier and Nuclear Fuels shareholders owning 59% and 41% of the new entity, respectively. The amalgamation is designed to create a stronger combined entity, maximizing shareholder value and operational efficiency.
The Kaycee Project spans 55 square miles and hosts three historically productive sandstone formations—Wasatch, Fort Union, and Lance—which are conducive for In-Situ Recovery (ISR) uranium extraction. Remarkably, the entire mineralized district is now under single-company control for the first time since the early 1980s, positioning Nuclear Fuels as a significant player in the region's uranium sector.
Furthermore, enCore Energy retains a right to back into 51% ownership if a 15 million pound uranium resource is established, which could further influence the dynamics of the Kaycee Project's development. Nuclear Fuels continues to leverage its strategic position and historical data to advance the project, set against a backdrop of increasing demand for uranium and government support.
