Standard Uranium Ltd (TSX-V:STND, OTCQB:STTDF) CEO Jon Bey joined Proactive to discuss the company’s latest developments and the growing momentum in the uranium sector.
Bey highlighted the progress made at Standard Uranium's Sun Dog project, its ongoing partnership with Arrow Energy, and the exploration plans for the year ahead.
The CEO also shared insights on the broader uranium market, highlighting the increasing demand for nuclear energy driven by major tech companies.
Proactive: Interesting news release out from the company, talking about your Sun Dog uranium project. You and I have talked in the past about these partnerships that you've put together and how this is the business model of the company moving forward. A great example of how one is really working.
Jon Bey: Yes, thank you for remembering that. We switched to the project generator model over a year ago, and the Sun Dog project was the very first one we put together with our partners at Arrow Energy. The goal, as with all of our projects, is to get exploration happening on them while our partners fund the work. We operate the projects and drive value to our shareholders that way.
Year one is now complete, and they've made a commitment to continue for year two, which means more exploration on the project.
Yes, that's right. They’re committing to paying us $200,000 in cash and $200,000 in shares on October 20th. Then we’ll jump right into the exploration program, which starts this fall and continues into next year with a $2 million spend. That will involve some winter work, potential summer drilling, and more geophysics to advance several projects up at Sun Dog Ridge and Uranium City.
Are you happy with what you saw in year one at Sun Dog?
Yes, we had a fantastic year. We made a discovery in the Wishbone area after some initial geology work. We drilled a few holes and got great results, providing a lot of useful information for our geologists. We're excited to continue this process with Arrow Energy.
Switching gears, I want to ask you about some global news. As the CEO of a uranium company, you have your finger on the pulse of the industry. There was a big announcement yesterday that could significantly impact not just what you're doing, but the whole sector.
Yes, yesterday we saw some major tech companies announce funding for small modular nuclear reactors to power their AI data centers. Microsoft was the first to take this step a few months ago, and now Amazon and Google are following suit. This really emphasizes the increasing importance of nuclear energy globally. And of course, nuclear reactors need uranium to function.
You're at the Red Cloud Mining Conference in Toronto right now. How is this news being received by the uranium sector?
It’s the talk of the entire conference. Uranium is probably the hottest sector right now, alongside gold. When companies like Microsoft, Amazon, and Google make moves like this, it has a massive trickle-down effect. Big uranium producers saw immediate share price jumps of around 15%, and the exploration companies like ours will hopefully benefit from more investment in uranium projects.
Quotes have been lightly edited for clarity and style