Isoenergy Stock Price, News & Analysis

IsoEnergy has completed its expanded summer exploration program at the Larocque East Project, executing 30 diamond drill holes totaling 13,015m. The drilling identified two new high-priority zones (Areas D and E) and a promising area near Hurricane East. Notable intersections include hole LE24-192 in Area E with 2.0m at 495 ppm U-p and 3,410 cps, and hole LE24-174 in Area D with 3.5m at 26.2 ppm U-p. Results indicate potential for resource expansion, with drilling in Hurricane East returning elevated radioactivity within 600 meters of the Hurricane deposit. A follow-up drilling program is planned for January 2025, focusing on high-priority areas including D, E, and Hurricane East.

IsoEnergy and Purepoint Uranium have formed a Joint Venture to explore and develop uranium properties in Saskatchewan's Athabasca Basin. The venture includes 10 projects covering over 98,000 hectares in the eastern part of the basin. Key highlights:

1. IsoEnergy will hold a 60% initial interest, with Purepoint holding 40%.
2. The portfolio includes properties along the Larocque Trend, a promising area for uranium discoveries.
3. IsoEnergy will invest $1 million in Purepoint's concurrent equity financing.
4. Purepoint will operate during the exploration phase, with IsoEnergy taking control in pre-development.
5. The deal involves a 10:1 share consolidation for Purepoint and a $2 million private placement.

Both companies view this partnership as an opportunity to leverage their expertise and accelerate uranium exploration in the region.

IsoEnergy (TSX: ISO, OTCQX: ISENF) and Anfield Energy have entered into a definitive agreement where IsoEnergy will acquire all outstanding Anfield shares. Anfield shareholders will receive 0.031 IsoEnergy shares for each Anfield share. Post-transaction, IsoEnergy and Anfield shareholders will own approximately 83.8% and 16.2% of the combined company, respectively.

The transaction values Anfield at approximately $126.8 million, with a 32.1% premium to its share price. This acquisition includes the Shootaring Canyon Mill, one of only three licensed uranium mills in the U.S., and a portfolio of uranium and vanadium projects. The combined entity aims to enhance near-term U.S. uranium production capacity and secure significant operational synergies.

The transaction is expected to close in Q4 2024, subject to shareholder and regulatory approvals. In connection, IsoEnergy has provided a $6 million bridge loan to Anfield for working capital.

IsoEnergy (TSX: ISO) (OTCQX: ISENF) has announced that its President, Tim Gabruch, will be resigning from his position effective August 31, 2024, to pursue other opportunities. The company's CEO and Director, Philip Williams, expressed gratitude for Gabruch's leadership and contributions to positioning the company for future growth. Gabruch, in turn, expressed pride in the team's achievements and confidence in IsoEnergy's future success.

Despite this management change, IsoEnergy remains focused on advancing its portfolio of assets, particularly the Larocque East Project in Canada's Athabasca Basin and its near-term production potential in the U.S. The company emphasized its commitment to operational excellence and sustainability, noting the growing interest from utilities in its projects.

IsoEnergy has completed Ambient Noise Tomography (ANT) surveys at its Larocque East Project in the eastern Athabasca Basin, covering an additional 20 km2. The surveys have identified six new high-priority drill targets on strike of the Hurricane deposit to the east. To date, 23 of 27 planned diamond drill holes have been completed, totaling 9,660 meters.

Key highlights include:

• ANT surveys have proven effective in guiding exploration, successfully tracing low-velocity responses correlated with alteration and structural disruption.
• Six new drill targets (E through J) identified within two conductor corridors.
• Early drilling results show strong hydrothermal alteration, typically associated with uranium mineralization.
• The overall hydrothermal system extends over a proven strike length of more than 9 km along a known conductor corridor.

The company plans to expand its current summer drilling program to test the newly identified target areas.

IsoEnergy (TSX: ISO, OTCQX: ISENF) has successfully reopened the main decline at the Tony M uranium mine in Utah on July 26, 2024. The company is initiating a comprehensive work program to restart uranium production in 2025. Key highlights include:

1. Ongoing rehabilitation by Tomcat Mining, expected to take 8-10 weeks.
2. Engagement of top-tier consultants SRK Consulting and Call & Nicholas for ventilation and ground control plans.
3. Upcoming underground and surface mapping, including a LiDAR survey.
4. Planned technical and economic study to establish production rates and costs.
5. Expansion of land position in the Henry Mountains by over 400%.

CEO Philip Williams emphasized the strategic importance of restarting production amid rising uranium prices and growing demand for nuclear power.

IsoEnergy (TSX: ISO; OTCQX: ISENF) has completed the sale of its Argentina portfolio to Jaguar Uranium Corp. The transaction includes the Laguna Salada Project in Chubut and the Huemul Project in Mendoza. As consideration, IsoEnergy receives:

1. 2,000,000 Jaguar shares valued at USD$10 million
2. A 2% NSR royalty on Laguna Salada (1% buyback option)
3. A 1% NSR royalty on part of Huemul
4. An option for an additional 1% NSR on the rest of Huemul

The deal aligns with IsoEnergy's strategy to maximize shareholder value and focus on core jurisdictions in the US, Canada, and Australia. It adds approximately C$13.6 million to IsoEnergy's equity portfolio, estimated at C$16.9 million pre-transaction.

IsoEnergy (TSXV: ISO, OTCQX: ISENF) has received final approval to list its common shares on the Toronto Stock Exchange (TSX). The transition from the TSX Venture Exchange (TSXV) to the TSX will commence on July 8, 2024, with the company's shares trading under the symbol 'ISO'. As part of this upgrade, IsoEnergy's shares will be voluntarily delisted from the TSXV prior to the commencement of trading on the TSX. This move marks a significant milestone for IsoEnergy, providing increased visibility and liquidity for the company's shareholders.

IsoEnergy has announced that it will settle portions of its interest payments to Queen's Road Capital Investment in shares.

Under the terms of the 2020 and 2022 QRC Debentures, IsoEnergy owes QRC a combined interest of US$455,000 as of June 30, 2024.

To settle this, IsoEnergy will issue 24,752 shares, worth US$74,998.56, and 16,501 shares, worth US$49,998.03, at a price of US$3.03 per share.

The interest payable in shares amounts to 2.5% per annum, based on the volume-weighted average trading price on the TSX Venture Exchange over the last 20 days before the due date.

The issuance of shares is subject to TSXV approval.