Uranium Royalty Corp

Uranium Royalty Corp (UROY) owns a diversified portfolio of 20 uranium royalties and streams across 14 mines and projects in Canada, the US, and elsewhere, providing upfront capital to producers in exchange for a percentage of future output at fixed costs. This streaming model delivers leveraged exposure to uranium prices without the operational risks of mining, such as labor disputes or environmental setbacks. In the nuclear renaissance, driven by global pledges for 500+ new reactors amid decarbonization, UROY captures upside from tightening supply and demand as utilities rebuild stockpiles depleted since Fukushima.

Over the past year, UROY acquired a 2% net smelter return royalty on Energy Fuels' Church Rock project for $1.4 million and expanded its stake in the high-grade Roughrider deposit via a $3.5 million investment. Revenue jumped 145% to $3.9 million in Q1 2024 from elevated spot prices above $90/lb. Key risks include uranium price volatility—down 20% from March peaks—delays at key assets like McArthur River, and regulatory hurdles for new nuclear builds amid uranium supply concentration in Kazakhstan and Russia.

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