Investing

Athabasca Basin uranium exploration companies

1. ATHA Energy (TSXV:SASK,OTCQB:SASKF)

ATHA Energy has an extensive uranium exploration pipeline across Canada, including in Saskatchewan’s Athabasca Basin. At 3.8 million acres, ATHA’s land package in the Athabasca Basin includes the Gemini project, a basement-hosted near-surface uranium deposit with uranium intercepts of between 6,190 and 96,600 parts per million.

The company also holds a 10 percent carried interest in exploration projects operated by NexGen Energy (TSX:NXE,NYSE:NXE) and IsoEnergy (TSX:ISO).

2. Azincourt Energy (TSXV:AAZ,OTCQB:AZURF)

Azincourt Energy has two uranium projects in Canada, one of which is its East Preston joint venture project near the southern edge of the Western Athabasca Basin. Azincourt has an 86.5 percent interest, with the remainder held by Skyharbour Resources. The 20,647 hectare property is adjacent to Skyharbour’s minority-owned Preston project.

Azincourt says it is targeting basement-hosted unconformity-related uranium deposits in two prospective conductive, low-magnetic-signature corridors. The company is planning for a fall 2025 geophysics exploration program at East Preston in preparation for a potential winter 2026 diamond drill program.

3. Baselode Energy (TSXV:FIND)

Baselode Energy’s strategy is developing assets near the Athabasca Basin with similar geology. Its ACKIO near-surface uranium discovery at its Hook project is located directly adjacent to the Athabascan Basin. First discovered by the company in September 2021, the ACKIO near-surface uranium prospect is more than 375 meters along strike, and more than 150 meters wide.

Baselode has identified at least nine separate uranium pods, or small bodies of mineralization, on the project. Drill results from its summer 2024 exploration program were released in May 2025, demonstrating the potential for further expansion of the known uranium mineralization at ACKIO.

4. CanAlaska Uranium (TSXV:CVV)

CanAlaska Uranium is a project generator with interests in a portfolio of assets in the Athabasca Basin covering 1.24 million acres. The company is advancing its West McArthur joint venture with Cameco, which is situated near the McArthur River mine in the Eastern Athabasca Basin. CanAlaska owns 85 percent of the project.

CanAlaska’s 2025 C$12.5 million drill program at West McArthur is aimed at expanding and delineating the high-grade Pike Zone uranium discovery.

Earlier this year, the company completed the first drilling in over 10 years at its wholly owned Cree East deposit in the south-eastern portion of the Basin. The drill program was fully funded by Nexus Uranium (CSE:NEXU,OTCQB:GIDMF) as part of an option earn-in agreement to earn up to 75 percent interest in the project.

5. Denison Mines (TSX:DML)

Uranium miner Denison Mines’ direct ownership interests in the Athabasca Basin region covers approximately 384,000 hectares. The company has a 22.25 percent stake in the McClean Lake mine and mill joint venture project operated by Orano Canada.

Denison’s flagship project in the region is Wheeler River, considered the largest undeveloped uranium project in the eastern region of the Athabasca Basin. Wheeler River hosts the high-grade Phoenix and Gryphon deposits.

According to a 2023 feasibility study, Phoenix hosts a proven and probable resource of 219,000 metric tons at an average grade of 11.7 percent uranium for 53.3 million pounds. The company plans to develop the deposit as an in-situ recovery operation.

The Canadian Nuclear Safety Commission is slated to conduct hearings for the project’s environmental assessment and license on October 8 and December 8 to 12, 2025. If approval is granted, the company is looking to break ground in early 2026 and commence production by the first half of 2028.

As for the Gryphon deposit, Denison has evaluated it as a conventional mine in a pre-feasibility study. The company conducted a field program in the first quarter 2025 that may be used for a future feasibility study.

6. F3 Uranium (TSXV:FUU,OTCQB:FUUFF)

F3 Uranium has three exploration properties in the western region of the Athabasca Basin: the advanced-stage Patterson Lake North project, which hosts the JR discovery, as well as the early-stage Minto and Broach projects.

In February 2025, the company launched a drill campaign at its Patterson Lake North project followed by ground geophysical exploration programs at its Broach and Minto projects. F3 Uranium raised C$7 million in flow-through shares in May 2025, which will go towards further exploration of its uranium projects.

7. Forum Energy Metals (TSXV:FMC,OTCQB:FDCFF)

Forum Energy Metals has numerous wholly owned and joint venture projects hosting new discoveries of high-grade unconformity-related uranium deposits in the Athabasca Basin. So far in 2025, the company’s focus has been on the Northwest Athabasca (NWA) project, a joint venture between Forum at 45.4 percent, NexGen Energy at 25.3 percent, Cameco at 18 percent and Orano Canada at 11.3 percent.

Early in the year, Forum announced an option agreement allowing Global Uranium (CSE:GURN,OTCQB:GURFF) to earn up to 75 percent of Forum’s stake in the property by spending C$20 million in exploration expenditures at NWA.

In April, Global Uranium completed a diamond drilling program and ground geophysical surveys on the project, which intersected elevated radioactivity and alteration systems distinct to unconformity-type uranium mineralization.

8. IsoEnergy (TSX:ISO)

IsoEnergy has a portfolio of projects and joint ventures in the Eastern Athabasca Basin, and its main focus is the Hurricane deposit at its wholly owned Larocque East uranium property.

The company discovered Hurricane in 2018 and it now stands as the world’s highest-grade indicated resource of uranium. A 2022 resource estimate reported an indicated high-grade resource of 63,800 metric tons grading 34.5 percent uranium for 48.61 million pounds of contained uranium.

IsoEnergy’s summer exploration program will include drilling to test potential resource expansion at Larocque East as well as exploration at its other Athabasca Basin projects.

9. NexGen Energy (TSX:NXE,NYSE:NXE)

NexGen is another uranium mining company with a large land package in the basin, including its development-stage Rook I project.

Rook I has a measured and indicated resource estimate of 256.7 million pounds contained uranium from ore grading an average of 3.1 percent U3O8. The 2021 feasibility study outlines an 11.5 year initial mine life with up to 29.2 million pounds of U3O8 production per year for the first five years.

The Federal Environmental Impact Statement for Rook I was accepted in January 2025, and the Canadian Nuclear Safety Commission has proposed hearing dates for the project on November 19, 2025, and February 9 to 13, 2026. NexGen plans to immediately begin construction activities following final federal approval.

10.Paladin Energy (TSX:PDN)

Paladin Energy’s Patterson Lake South (PLS) project hosts the large, high-grade and near-surface Triple R deposit, which has the potential to produce both uranium and gold. The company acquired it as part of its acquisition of Fission Uranium in 2024. Paladin also holds six early-stage uranium projects in the basin.

PLS’s mineral reserve estimate includes probable reserves of 93.7 million pounds from 3 million metric tons of ore at an average grade of 1.41 percent U3O8. The 2023 feasibility study demonstrates life of mine production of approximately 9 million pounds U3O8 per year over a 10 year mine life.

The company released positive drill results from its winter drill program on the Saloon East zone in June 2025 showing the potential to further grow the resource base of the property outside of the Triple R deposit. The project is advancing through the environmental permitting process.

11. Purepoint Uranium (TSXV:PTU)

Purepoint Uranium has an extensive uranium portfolio, including six joint ventures and five wholly owned projects all located in the Athabasca Basin.

Purepoint has a significant joint venture relationship with IsoEnergy (TSX:ISO) that includes a 50/50 joint venture agreement to explore 10 uranium projects across 98,000 hectares in the eastern portion of the Athabasca Basin. The partners launched a 2025 drill campaign in May at the Dorado project, which will include approximately 5,400 meters across 18 holes, targeting high-priority electromagnetic conductors for uranium mineralization.

Its joint ventures also include the Hook Lake uranium project in the Patterson region, in which it owns a 21 percent interest alongside Cameco and Orano Canada, which both hold 39.5 percent.

12. Skyharbour Resources (TSXV:SYH,OTCQX:SYHBF)

Skyharbour Resources is another junior mining company with an extensive portfolio of uranium exploration projects in the Athabasca Basin, comprising 36 uranium projects over 614,000 hectares. The company’s core projects include its 57.7 percent owned Russell Lake project — a joint venture with Rio Tinto (ASX:RIO,NYSE:RIO,LSE:RIO) — and its wholly owned Moore project.

Skyharbour’s 49,635 hectare Preston uranium project in the western portion of the Athabasca Basin is the subject of a 7,000 meter 2025 summer drill campaign being conducted by its joint venture partner, Orano Canada. Orano is the majority owner and operator at the project at 53.4 percent, while Skyharbour owns a minority interest of approximately 25.6 percent. The remainder is held by Dixie Gold.

13. Standard Uranium (TSXV:STND,OTCQB:STTDF)

Standard Uranium is an emerging project generator that holds interest in over 94,476 hectares in the Athabasca Basin, including its flagship Davidson River project in the southwest region of the basin.

In spring 2025, Standard Uranium partnered with Fleet Space Technologies Canada on three ExoSphere Multiphysics survey grids across the Warrior, Bronco and Thunderbird conductors at Davidson River. The surveys will provide important data for upgrading drill targets across the property through imaging of density anomalies in the basement rock.

Bitcoin and Ethereum price update

Bitcoin (BTC) is priced at US$107,538, up 0.2 percent in the last 24 hours. The day’s range for the cryptocurrency brought a low of US$106,831 and a high of US$107,802 at the opening bell.

Bitcoin price performance, June 27, 2025.

Chart via TradingView.

Ethereum (ETH) closed at US$2,510.38, up by 3.1 percent over the past 24 hours and its highest valuation of the day. Its lowest valuation on Monday was US$2,443.56.

Altcoin price update

• Solana (SOL) was priced at US$156.95, up by 4.1 percent over 24 hours. Its highest valuation as of Monday was US$158.34, and its lowest was US$150.53.

• XRP was trading for US$2.29, up by 5.5 percent in 24 hours and its highest valuation on Monday. The cryptocurrency’s lowest valuation was US$2.17.

• Sui (SUI) is trading at US$2.82, showing an increaseof 0.5 percent over the past 24 hours. Its lowest valuation was US$2.75, and its highest valuation was US$2.83.

• Cardano (ADA) is priced at US$0.5829, up by 4.8 percent in the last 24 hours and its highest valuation of the day. Its lowest valuation on Monday was US$0.5589.

Today’s crypto news to know

REX to launch Solana staking ETF this week

The REX-Osprey Solana and Staking ETF is set to launch on Wednesday (July 2), as confirmed by issuer REX Shares on Monday. Analysts had predicted this news was imminent just days before its release.

This fund, the first US-staked cryptocurrency ETF, will enable investors to hold Solana and generate yield through staking, potentially fostering wider institutional adoption of cryptocurrency.

REX’s launch comes after thoughtful consideration by the US Securities and Exchange Commission. The commission had previously asserted that the company’s unique C-Corp business structure could be in conflict with Rule 6c-11 under the Investment Company Act of 1940, which governs how ETFs operate and are regulated. REX updated its prospectus with positive feedback, securing regulatory approval for the fund.

OSL soars after buying Canadian crypto firm Banxa

OSL Group (HKEX:0863), a Hong Kong-listed digital asset platform, saw its shares spike 10 percent after announcing it had acquired Canadian crypto payments firm Banxa. The acquisition supports OSL’s ambitious global expansion strategy, which includes applying for stablecoin licenses as new regulatory frameworks emerge.

Finance Chief Ivan Wong explained that acquiring Banxa would enhance OSL’s cross-border payments capabilities and boost its role in the growing stablecoin market.

Hong Kong’s stablecoin bill, set to take effect on August 1, is a major catalyst for this expansion, with Chinese giants already showing interest. OSL is already licensed in Australia, with deals in Japan, Europe and Indonesia soon to close. The company aims to be a key stablecoin issuer in Asia and beyond.

Metaplanet strengthens Bitcoin treasury with fresh bond issuance

Tokyo-based Metaplanet (OTCQX:MTPLF,TSE:3350) has added another 1,005 BTC to its corporate treasury, pushing its total holdings to 13,350 BTC. To further build its crypto war chest, the company announced a zero-interest bond issuance worth US$208 million, designed to finance additional Bitcoin purchases.

Metaplanet is well known for its aggressive Bitcoin strategy, which has made it one of the world’s largest corporate holders of the cryptocurrency. Just last week, the hotel and investment firm raised US$515 million through an equity issuance to support its Bitcoin ambitions.

At current market prices around, Metaplanet’s Bitcoin stash is worth well over US$1.4 billion.

The Blockchain Group expands Bitcoin holdings and capital pool

Paris-based the Blockchain Group has further strengthened its Bitcoin treasury with the purchase of 60 BTC for around 5.5 million euros, boosting its holdings to 1,788 BTC.

The firm also raised about 600,000 euros by exercising warrants, allowing it to buy an additional 6 BTC.

Blockstream CEO Adam Back invested in the firm’s share offering, subscribing to over 2.1 million new shares, while French asset manager TOBAM contributed nearly 143,000 euros, supporting the purchase of 13 more BTC.

The company conducted an “ATM-type” capital increase with TOBAM, raising 4.1 million euros to fund 41 BTC.

Altogether, the Blockchain Group has secured a BTC yield of roughly 1,270 percent so far this year, with gains amounting to about 46.7 million euros.

Backed Finance launches tokenized stock product

Backed Finance, a company focused on bridging traditional financial assets like stocks and ETFs onto blockchain through tokenization, announced the launch of its tokenized stocks product, xStocks, on Monday.

60 stocks are now accessible on Bybit, Kraken and several Solana DeFi protocols, providing users with exposure to traditional stocks through blockchain infrastructure.

‘xStocks represent a monumental leap forward in democratizing access to financial markets,’ said Adam Levi, co-founder of Backed, in a press release. ‘By bringing familiar assets onto the blockchain with unprecedented accessibility, we are not just bridging traditional finance and DeFi; we are building the foundational blocks for a truly open, efficient, and inclusive global financial system where everyone can participate in wealth creation.’

Chainlink rolls out Automated Compliance Engine

Chainlink announced an early access rollout of its Automated Compliance Engine on Monday.

Built on the Chainlink Runtime Environment and launched in collaboration with Apex Group, GLEIF and ERC-3643 Association, the system automates the process of checking and enforcing financial rules for both traditional and blockchain-based financial activities, making it easier for established financial institutions to use new blockchain technologies in a compliant and safe way.

Topnotch Crypto launches adaptive yield contracts

Topnotch Crypto has launched its new adaptive yield contracts, which the company says are aimed at helping crypto investors maintain returns despite ongoing market volatility.

The contracts use proprietary predictive yield-switching artificial intelligence to automatically rotate customer funds between cloud mining and staking, depending on which is more profitable in real time.

The company’s strategy analyzes a range of on-chain data, from network congestion to staking rates, to continuously optimize yields. Unlike many passive strategies, the adaptive yield approach gives investors exposure to multiple cryptocurrencies to spread out risk. Another highlight is Topnotch’s use of geothermal and solar energy, which helps keep costs down while supporting sustainability goals.

Bullet briefing — Gold repatriation, Rule Symposium

Germany, Italy to repatriate gold?

Germany and Italy are facing calls to bring home gold stored in the US.

According to the Financial Times, politicians and economists in the two countries are pushing for repatriation as a result of global geopolitical uncertainty, as well as concerns about Trump’s potential influence on the Federal Reserve as he continues to criticize Chair Jerome Powell.

‘We are very concerned about Trump tampering with the Federal Reserve Bank’s independence. Our recommendation is to bring the (German and Italian) gold home to ensure European central banks have unlimited control over it at any given point in time’ — Michael Jäger, Taxpayers Association of Europe

The news outlet calculates that German and Italian gold held in the US has a total value of about US$245 billion. Market participants agree that it would be a blow to relations with America if the countries were to bring their gold home at this time.

At least for now they seem unlikely to do so — although Italy’s central bank hasn’t commented, Germany’s Bundesbank said it sees the New York Fed as ‘trustworthy and reliable.’

Send your questions for the Rule Symposium

The Rule Symposium runs in Boca Raton, Florida, from July 7 to 11, and I’ll be heading there to interview Rick Rule, as well as Adrian Day, Lobo Tiggre, Andy Schectman, Dr. Nomi Prins and more.