Nuclear Fuels Stock Price, News & Analysis

Nuclear Fuels Inc. (traded in the U.S. under the symbol NFUNF) is described in its public disclosures as a uranium exploration company advancing early-stage, district-scale In-Situ Recovery ("ISR") amenable uranium projects towards production in the United States of America. The company focuses on uranium exploration rather than operating mines, and emphasizes projects that may be suitable for ISR extraction methods.

According to multiple company news releases, Nuclear Fuels has consolidated the Kaycee uranium district in Wyoming’s Powder River Basin under single-company control for the first time since the early 1980s. The Kaycee Uranium Project is repeatedly described as the company’s priority or flagship project, consisting of mineral rights that cover a long mineralized trend with extensive mapped roll-fronts. The company states that this district-scale position is supported by a large historical drilling database and proprietary geological information.

The company also reports that it is advancing ISR-amenable uranium projects by leveraging extensive proprietary historical databases and what it describes as deep industry expertise. Its disclosures highlight a focus on early-stage exploration and systematic drill programs designed to test and expand historic uranium resources and identify new zones of roll front-hosted uranium mineralization. These efforts are framed as steps toward potential future production, rather than as current production activities.

In addition to Kaycee, Nuclear Fuels has announced the acquisition of the TenSleep Uranium Project in Wyoming’s Powder River Basin. The company describes TenSleep as a road-accessible uranium project with geological characteristics similar to unconformity-type uranium deposits known from Canada’s Athabasca Basin. Historical work referenced by the company indicates past underground uranium extraction at the Jeri-Marie mine and multiple historic drill campaigns that identified uranium mineralization associated with key geological contacts. Nuclear Fuels has stated that it is reviewing this historical data and developing an exploration program that includes assessing the potential for unconformity-style and ISR-amenable uranium mineralization.

Across its disclosures, Nuclear Fuels emphasizes roll front-hosted uranium mineralization and ISR-related geology at Kaycee, and unconformity-style targets at TenSleep. At Kaycee, the company notes that the project covers a mineralized trend with hundreds of miles of mapped roll fronts and that it is believed to be the only project in the Powder River Basin where three historically productive sandstone formations (Wasatch, Fort Union, and Lance) are all mineralized and potentially accessible for ISR extraction. At TenSleep, the company highlights uranium mineralization at the contacts between the TenSleep Formation and adjacent formations, and references historical drilling that encountered mineralization at both the upper and lower contacts of the formation.

Nuclear Fuels also discloses a strategic relationship with enCore Energy Corp., which it calls a "pathway to production." Under this relationship, enCore retains a right to back in to a majority interest in the Kaycee Project upon certain resource and funding conditions, while holding an equity interest in Nuclear Fuels. This arrangement is presented by Nuclear Fuels as a way to potentially move projects from exploration toward production if specified technical and economic thresholds are met.

The company’s news releases further indicate that Nuclear Fuels has conducted and planned multi-phase drill programs at Kaycee. These programs include confirmation and expansion drilling in areas of historic uranium resources, as well as regional drilling to test previously underexplored targets. Reported results include the discovery of new mineralized zones, such as the Outpost and Trail Dust Zones, where drill holes encountered roll front-hosted uranium mineralization with grade-thickness values that the company notes are considered suitable for potential ISR wellfield inclusion in the Powder River Basin context.

In March 2025, Nuclear Fuels announced the acquisition of the TenSleep Uranium Project near Kaycee, describing it as a project with historical underground mining and extensive historic drilling by prior operators. The company states that TenSleep hosts uranium mineralization at key geological contacts and that earlier technical reports recognized the potential for unconformity-style uranium deposits, although recommended follow-up exploration was not completed due to past market conditions. Nuclear Fuels indicates that it is now reviewing these historic datasets to design an exploration program that would delineate the extent of unconformity-style mineralization and test ISR amenability.

On September 16, 2025, Premier American Uranium Inc. announced the completion of an arrangement under which it acquired all of the issued and outstanding common shares of Nuclear Fuels. According to that news release, Nuclear Fuels became a wholly owned subsidiary of Premier American Uranium, and the Nuclear Fuels shares were expected to be delisted from the Canadian Securities Exchange at market close on that date. The arrangement provided that Nuclear Fuels shareholders received 0.33 of a Premier American Uranium common share for each Nuclear Fuels share held. As a result, NFUNF represents the historical over-the-counter symbol for a company that has been acquired and is no longer an independent public issuer.

Because of this completed acquisition and the expected delisting referenced in the news, NFUNF should be viewed primarily in a historical context. The description of Nuclear Fuels’ business as a uranium exploration company with district-scale ISR-amenable projects, its focus on the Kaycee and TenSleep projects in Wyoming, and its strategic relationship with enCore Energy Corp. all come from the company’s own news releases issued prior to and around the time of the acquisition. For current information on the underlying uranium assets and ongoing exploration or development activities, investors are directed in the news releases to Premier American Uranium, which now owns Nuclear Fuels as a subsidiary.

Business focus and projects

Based on its public statements, Nuclear Fuels’ core business focus before the acquisition by Premier American Uranium can be summarized as:

• Uranium exploration in the United States, with an emphasis on early-stage, district-scale projects.
• ISR-amenable deposits, especially roll front-hosted uranium in sandstone formations, which the company highlights at Kaycee.
• District-scale control of the Kaycee uranium district in Wyoming’s Powder River Basin, including extensive mineral rights and a long mineralized trend with mapped roll fronts.
• Exploration drilling programs aimed at confirming and expanding historic uranium resources and discovering new mineralized zones.
• Strategic partnerships, particularly with enCore Energy Corp., which holds an equity interest and a back-in right at Kaycee.

Corporate status and acquisition

Following shareholder approval, court approval, and regulatory review, Premier American Uranium and Nuclear Fuels announced the closing of the arrangement transaction on September 16, 2025. That announcement states that Premier American Uranium acquired 100% of the Nuclear Fuels shares, that Nuclear Fuels became a wholly owned subsidiary, and that the Nuclear Fuels shares were expected to be delisted from the Canadian Securities Exchange at market close on the same day. The news also indicates that Premier American Uranium expected to cause Nuclear Fuels to apply to cease to be a reporting issuer under applicable Canadian securities laws.

For investors researching NFUNF stock, this means the symbol relates to a company that has been acquired and is no longer independently listed on the Canadian Securities Exchange, with its corporate activities now integrated under Premier American Uranium. Historical news and disclosures about Nuclear Fuels remain relevant for understanding the origin and characteristics of the uranium projects that now form part of Premier American Uranium’s portfolio.