Matthew Schwab on Kraken Energy’s Apex Uranium Property and the U.S. Uranium Supply Challenge

In a recent interview with InvestorNews host Tracy Weslosky, Kraken Energy Corp.’s (CSE: UUSA | OTCQB: UUSAF) CEO and Director Matthew Schwab discussed their recent breakthrough announcement about receiving drill permit for their past producing Apex Uranium Property in Nevada, USA. As one of Nevada’s largest past-producing uranium mines, Matthew said that the Apex property spans nearly 17.5 kilometers in strike length with high-grade surface samples of up to 6% U3O8. The upcoming drilling program aims to test priority targets and potentially justify further advanced exploration along the mineralized trend. The conversation shifted to the surging interest in uranium, and the uranium spot price reaching $70 per pound, a mark unseen since 2011. Matthew emphasized the unique position of the U.S., facing a substantial uranium demand for its 90 plus nuclear reactors while producing very little of it domestically. This creates a supply deficit that is only going to get worse in the coming years.