Recently, Fission’s Management had an update meeting in Vancouver, with a delegation of senior executives from both CAEA (China Atomic Energy Authority) and CGN Mining. The delegation was wrapping up a tour meeting with Federal Canadian and Saskatchewan Provincial government representatives.
As you know, CGN Mining is Fission’s largest investor – holding 19.99% of the company in exchange for an $82M investment. During the meeting, CGN made clear they were very pleased with progress at PLS and they also gave us some insight into their meetings with Canada’s Federal and Provincial government.
They were able to relay to us, the feeling that they had made positive in-roads towards improved and increasing future opportunities in the nuclear fuel sector between Canada and China. This is important because China is leading the world in terms of reactor builds – and will generate additional demand for uranium. This is good news for Canada and equally good for Fission because, as CGN’s investment in our company has made clear, the Chinese view the PLS project as an important component in meeting their future uranium needs.
At a project level, I can share that Fission’s technical team is hard at work on the Summer program at PLS. If you missed the announcement with the program details, you can read the news release here.
Ross McElroy, President, COO & Chief Geologist of Fission Uranium