Fusion Fuel Highlights Royal Uranium’s 2% NSR on Shea Creek Project, One of Canada’s Largest Undeveloped Uranium Resources in the Athabasca Basin
Rhea-AI Summary
Fusion Fuel (Nasdaq: HTOO) highlighted an anticipated 2.0% NSR royalty on the Shea Creek uranium project, one of the largest undeveloped uranium resources in Canada’s Western Athabasca Basin. Shea Creek totals 67.57M lbs indicated and 28.06M lbs inferred U3O8 across four deposits (Kianna, Anne, Colette, 58B).
The royalty is one of 16 uranium royalties Fusion Fuel expects to acquire through its February 18, 2026 share exchange to buy a controlling interest in Royal Uranium, providing exposure to uranium royalties without additional capital spending.
Positive
- 2.0% NSR royalty on Shea Creek deposits
- 67.57M lbs U3O8 indicated resource at Shea Creek
- 28.06M lbs U3O8 inferred resource at Shea Creek
- 16-royalty portfolio across Americas expected in transaction
- Share exchange completed to acquire Royal Uranium on Feb 18, 2026
Negative
- Royalty returns exclude transportation and refining costs
- Global supply growth +14% vs demand +118% to 2040 implies deficit
- Projected ~197M lbs annual deficit by 2040 signals market risk timing
News Market Reaction – HTOO
On the day this news was published, HTOO gained 3.82%, reflecting a moderate positive market reaction. Our momentum scanner triggered 3 alerts that day, indicating moderate trading interest and price volatility. This price movement added approximately $314K to the company's valuation, bringing the market cap to $8.54M at that time.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Market Reality Check
Peers on Argus
Peers show mixed moves: VGAS up 11.18%, BNRG up 2.07%, while SUUN and NXXT are down 8.28% and 6.45%. Momentum scanner flags only SUUN (up 6.40%) and BNRG (down 5.54%), reinforcing that today’s HTOO move appears stock-specific rather than a broad utilities/renewables rotation.
Historical Context
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| Mar 23 | Board/strategy update | Positive | -2.3% | Approval of uranium investor James Passin as director and royalty strategy push. |
| Mar 17 | Royalty asset highlight | Positive | -4.3% | Highlighting 2.0% NSR royalty on Cameco‑operated PLS Regional project. |
| Mar 11 | Royalty exposure update | Positive | +2.9% | Expected royalty exposure to Jaguar Uranium projects via Royal Uranium deal. |
| Mar 05 | Contract win | Positive | +7.7% | Announcement of about $1.16M in new LPG engineering subcontracts in Dubai. |
| Mar 03 | Regulatory permit news | Positive | +0.9% | EIA permit obtained for Laguna Salada project tied to a 2.0% NSR royalty. |
Recent uranium royalty and project updates have mostly seen the stock move in the same direction as the news, but two uranium‑strategy headlines drew negative price reactions, indicating occasional profit‑taking or skepticism around this pivot.
Over recent weeks, Fusion Fuel has steadily outlined a shift toward energy and uranium royalty exposure. On March 3, it detailed an EIA permit milestone tied to a 2.0% NSR asset, followed by LPG engineering wins worth about $1.16M on March 5. Subsequent releases on Jaguar and Royal Uranium royalties and the board appointment of uranium investor James Passin (from March 11–23) expanded this royalty narrative. Today’s Shea Creek NSR focus further develops that same Royal Uranium portfolio theme.
Regulatory & Risk Context
An effective Form F-3 dated March 18, 2026 registers up to 2,403,387 Class A Ordinary Shares for resale by selling shareholders. Fusion Fuel is not selling shares under this shelf and receives no proceeds from resales, but could receive up to $8,483,138 if related warrants are fully exercised for cash. A 424B3 filing on March 24, 2026 reflects active usage of this shelf for resale registration.
Market Pulse Summary
This announcement further details Fusion Fuel’s anticipated 2.0% NSR royalty on the Shea Creek project, covering large resources of 67.57M lbs indicated and 28.06M lbs inferred U₃O₈ in the Athabasca Basin. It reinforces the broader Royal Uranium royalty strategy and ties that exposure to a market backdrop where uranium demand is forecast to reach 397M lbs by 2040. Investors may watch future updates on the Royal Uranium closing and any use of the active F-3 resale shelf registering 2,403,387 shares.
Key Terms
Net Smelter Return (NSR) financial
cut-off grade technical
AI-generated analysis. Not financial advice.
- Shea Creek uranium resource includes 67.57M lbs indicated + 28.06M lbs inferred U₃O₈1, operated by Orano Canada Inc. in a joint venture with Uranium Energy Corp.
- Part of a 16-uranium-royalty portfolio across the Athabasca Basin, Newfoundland, Colombia, and Argentina
Dublin, March 25, 2026 (GLOBE NEWSWIRE) -- Fusion Fuel Green PLC (Nasdaq: HTOO) (“Fusion Fuel” or the “Company”), a leading provider of full-service energy engineering, advisory, and utility solutions, today highlighted information about its anticipated
The Shea Creek project, in the Western Athabasca area of northern Saskatchewan, Canada, encompasses uranium resources in Canada’s Western Athabasca Basin. Shea Creek is one of the largest undeveloped uranium resources in Canada’s Athabasca Basin. The project is operated by Orano Canada Inc., a subsidiary of French state-majority-owned nuclear fuel cycle company Orano SA, in a joint venture with Uranium Energy Corp. (“UEC”), benefiting from strong government-backed support and long-term demand driven by France’s nuclear energy program. The Western Athabasca Basin has attracted investment from some of the world’s largest nuclear energy companies and is believed to have strong expansion potential.
Four deposits — Kianna, Anne, Colette, and 58B — combine to form large undeveloped uranium resources in the Shea Creek project.1 UEC has indicated that expansion potential remains very high, with 278,889 meters of drilling across 563 drill holes completed since 1992.1
UEC’s 2022 Technical Support’s 2022 mineral resource estimate for the four deposits at a cut-off grade of
- 67.57 million pounds U₃O₈ indicated (2,056,000 tonnes grading
1.49% U₃O₈) - 28.06 million pounds U₃O₈ inferred (1,254,000 tonnes grading
1.02% U₃O₈)
The
Global uranium demand is forecast to reach 397 million pounds by 2040 — a
This gap cannot be closed by existing producers alone. Development-stage resources, such as those in the Western Athabasca Basin, will be essential to meeting demand. Additionally, the Kazatomprom Group, the world's largest uranium producer, publicly flagged sulfuric acid shortages and construction delays during 2023–2025 that constrained planned production increases, contributing to a tighter-than-expected Western supply outlook over that period and increasing the geopolitical premium on Americas-based assets such as those in Saskatchewan.
“Shea Creek is one of the largest undeveloped uranium resources in Canada, operated by two of the industry's most experienced names. Through our anticipated acquisition of Royal Uranium, the holder of a
Background On Royal Uranium Transaction
On February 18, 2026, Fusion Fuel announced that it had entered into a definitive share exchange agreement (“Share Exchange Agreement”) to acquire a controlling interest in Royal Uranium, a private royalty company holding a portfolio of 16 royalties across the Americas. The proposed transaction is intended to provide Fusion Fuel with exposure to energy commodity royalties from certain assets, particularly uranium and natural gas deposits, through a capital-efficient royalty portfolio.
ABOUT FUSION FUEL GREEN PLC
Fusion Fuel Green PLC (NASDAQ: HTOO) provides integrated energy engineering, distribution, and green hydrogen solutions through its Al Shola Gas, BrightHy Solutions, and BioSteam Energy platforms. With operations spanning LPG supply to hydrogen and bio-steam solutions, the Company supports decarbonization across industrial, residential, and commercial sectors. For more information, please visit www.fusion-fuel.eu.
ABOUT ROYAL URANIUM INC.
Royal Uranium is a private energy royalty entity holding a portfolio of tier one high-quality uranium and natural gas royalties across premier mining jurisdictions in the Americas, operated by experienced industry partners. The portfolio is designed to provide long-duration exposure to commodity price upside while minimizing operating risk through the royalty model. For more information, please visit www.royaluranium.com.
FORWARD-LOOKING STATEMENTS
This press release and the statements contained herein include “forward-looking statements” within the meaning of Section 27A of the U.S. Securities Act of 1933, as amended, and Section 21E of the U.S. Securities Exchange Act of 1934, as amended, which statements involve substantial risks and uncertainties. Forward-looking statements generally relate to future events or the Company’s future financial or operating performance. In some cases, you can identify these statements because they contain words such as “may,” “will,” “believes,” “expects,” “anticipates,” “estimates,” “projects,” “intends,” “should,” “seeks,” “future,” “continue,” “plan,” “target,” “predict,” “potential,” or the negative of such terms, or other comparable terminology that concern the Company’s expectations, strategy, plans, or intentions. Forward-looking statements relating to expectations about future results or events are based upon information available to the Company as of today’s date and are not guarantees of the future performance of the Company, and actual results may vary materially from the results and expectations discussed. Such forward-looking statements include, but are not limited to, statements regarding the Company’s planned acquisition of a controlling interest in Royal Uranium and its expectation to gain royalty exposure to uranium exploration activity across certain projects without additional cost to itself or the royalty holder, and statements regarding planned exploration activities at certain uranium projects. The Company’s expectations and beliefs regarding these matters may not materialize, and actual results in future periods are subject to risks and uncertainties that could cause actual results to differ materially from those projected, including, without limitation, the ability of the parties to the Share Exchange Agreement to complete the transaction, the Company’s ability to integrate Royal Uranium’s assets into its business, the ability of the parties to obtain Irish regulatory approval and any other required third-party consents and approvals in connection with the transaction, obtain the approval of the Company’s shareholders, and to meet all other closing conditions; the realization of revenues from the assets of Royal Uranium, including its uranium and natural gas royalties, which may depend on, among other things, the commercial development of uranium and natural gas deposits, the receipt and maintenance of exploration, mining, and environmental permits and approvals by the operators of the underlying properties, regulatory approval, and market demand for uranium and natural gas as sources of energy; volatility in uranium and natural gas commodity prices, which directly affect the potential value of NSR and other royalty interests; the risk that operators of royalty-bearing properties may delay, suspend, or abandon exploration or development activities due to insufficient funding, unfavorable economic conditions, technical challenges, or regulatory obstacles; the possibility that exploration activities, including those authorized under recently obtained permits, may not result in the discovery of commercially viable mineral deposits or hydrocarbon reserves; the dependence of the Company on third-party operators over whom it has no operational control, including decisions regarding the pace, scope, and method of exploration and development; the risk that changes in mining, environmental, or energy laws and regulations in the jurisdictions where the royalty assets are located, including Canada, Colombia, and Argentina, which may adversely affect the feasibility or economics of the underlying projects; political, economic, and social risks associated with operating in foreign jurisdictions, including currency controls, expropriation, nationalization, and changes in fiscal regimes; the risk that royalty agreements may be subject to disputes regarding their scope, enforceability, or the calculation of permitted deductions from gross revenues; competition from existing or new offerings that may emerge; impacts from strategic changes to the Company’s business on net sales, revenues, income from continuing operations, or other results of operations; the Company’s ability to obtain sufficient funding to maintain operations and develop additional services and offerings; and the risks and uncertainties described under Item 3. “Key Information – D. Risk Factors” and elsewhere in the Company’s Annual Report on Form 20-F filed with the SEC on May 9, 2025 (the “Annual Report”), and other filings with the SEC. Should any of these risks or uncertainties materialize, or should the underlying assumptions about the Company’s business and the commercial markets in which the Company operates prove incorrect, actual results may vary materially from those described as anticipated, estimated or expected in the Annual Report. All subsequent written and oral forward-looking statements concerning the Company or other matters and attributable to the Company or any person acting on its behalf are expressly qualified in their entirety by the cautionary statements above. The Company does not undertake any obligation to publicly update any of these forward-looking statements to reflect events or circumstances that may arise after the date hereof, except as required by law.
Investor Relations Contact
ir@fusion-fuel.eu
www.fusion-fuel.eu
1 2022 Technical Report on the Shea Creek Project, Saskatchewan,” effective October 31, 2022, filed by Uranium Energy Corp. with the U.S. Securities and Exchange Commission (“SEC”) on January 11, 2023. Mineral resources are not mineral reserves and do not have demonstrated economic viability.
2 “Uranium's Tale of Two Markets” (December 15, 2025), https://sprott.com/insights/uranium-s-tale-of-two-markets/.
FAQ
What does Fusion Fuel's (HTOO) 2.0% NSR on Shea Creek mean for investors?
How large are the Shea Creek uranium resources cited by Fusion Fuel (HTOO)?
What assets will Fusion Fuel (HTOO) acquire from Royal Uranium in the Feb 18, 2026 deal?
How does Fusion Fuel (HTOO) position itself amid projected uranium supply and demand?
Who operates Shea Creek and what exploration supports its expansion potential?
