Eyeing a US-listing as it focuses on North America's uranium supply
Triton Uranium announced it has started the development of the Atlas project in Saskatchewan , Canada. Triton holds around 46,742 acres of mineral claims in northern Saskatchewan , with the company preparing for a 10,000m drill program across four priority target zones starting in June this year.
The start of development activities marks a "significant milestone toward advancing a new domestic uranium supply as demand accelerates alongside the resurgence of nuclear power in the US", the company said.
"Speed is the missing piece in North America's uranium supply," Triton chief executive Todd Montgomery said. "AI data centres and a renewed US nuclear buildout are accelerating demand right now, but most uranium developments won't come online for years. "The Atlas project is built to change that, with our near-surface, infrastructure-ready model that we believe can be developed significantly faster than conventional uranium mines.
"Triton is planning to focus on near-surface mineralisations and previously developed open-pit mine areas, it said. "Beginning on-site work moves the project closer to advancing a future open-pit ore body and reinforces our commitment to creating value for the company, the community, and North America's uranium supply," Triton president Scott Evans added. Triton is considering a US listing through a merger with a special purpose acquisition company this year, Evans told news agency Reuters this week.
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