The HEU agreement expires on December 31 2013. As a reminder, the agreement (aka the Megatons to Megawatts agreement) has been responsible for 24m lbs per year of uranium supply to the US – the world’s largest user of uranium fuel for its huge fleet of reactors.

Despite this very well-publicized fact, there are still some elements of the investment community that have continued to believe that that Russia would continue to deliver uranium next year and beyond the end of this year.

In a recent presentation to the annual convention of the Prospectors and Developers Association of Canada in Toronto, Tim Gabruch of Cameco responded to a question on the subject by pointing out that while Russia has committed to continue to sell the enrichment component, equivalent to that in the HEU, Russia has said that it needs the uranium itself.

No HEU agreement means removing 24m lbs of annual uranium supply at a time when, if you’ve been following my blog recently, you know that demand is increasing….

Dev Randhawa

Hi All,

Lengthy but useful article on uranium investing news about growth in the nuclear energy sector.  Definitely worth checking out if you’re looking for more proof that despite the unreasoning media bias against nuclear energy, if we’re to generate clean power this should be (and is) the way forward.

Dev Randhawa

If you didn’t catch Fission’s press release, we have now signed a definitive agreement with Denison regarding the sale of a large portion of Fission’s assets to Denison and the subsequent spin out of Fission Uranium Corp – the NewCo that will emerge with PLS as its flagship property. Fission shareholders at the time of the deal’s close will own shares in both companies. This definitive agreement replaces the binding letter of agreement that we announced in January.

I’m thrilled about this deal as I feel strongly that it delivers a number of solid benefits to the shareholders of both companies, specifically:

*Substantial value offered to Fission shareholders for the Assets
*The opportunity for Fission shareholders to simultaneously be a part of the NewCo (Fission Uranium Corp) with its extremely prospective Western Athabasca exploration portfolio (including the growing discovery at PLS) and the impressive assets of Denison, which include several advanced exploration properties plus an interest in the McClean Lake mill
*Fission Uranium Corp will be very well funded
*Fission Uranium Corp will continue forward under the leadership of the same successful management team that developed Fission
*Further solidifies Denison as the consolidator of strategic assets in the Athabasca Basin, to the benefit of both sets of shareholders

The press release includes a number of legal and technical details and I recommend you take the time to read through it. In the meantime, we continue to push forward with our drill programs and as you’ll know from recent press releases, we’ve been enjoying enormous success at PLS which as I’ve mentioned will become the flagship property of Fission Uranium Corp when it spins into existence upon completion of the deal with Denison.

As always, please get in touch with any questions and be sure to connect with us on Twitter and LinkedIn.

Dev Randhawa

Dev Randhawa’s new blog

Hi to all. For those of you that don’t know me, my name’s Dev Randhawa and I’m the CEO of several junior exploration companies in the resource sector including Fission Uranium and Toro Reources as well as a private consulting and financing firm called RD Capital. If you’re not familiar with any of these companies, here’s a quick overview:

Dev Randhawa and Fission Uranium

Fission was founded by me, Dev Randhawa, in 2013.In fact it was spun out of Fission Energy Corp – a company I also founded in 2007. The majority of its properties are based in Canada though there are also some in Namibia and Peru. The mining industry is very much an international affair and I spend a great deal of time on the road – inspecting the company properties, meeting investors, brokers and analysts, presenting at conferences… the list goes on. It’s hectic but enjoyable.

Dev Randhawa and Toro

I have recently joined the company as CEO and along with a fantastic Geo team lead by my friend and expert geologist Ross McElroy. We have a tremendously exciting Copper exploration property in Arizona, USA which is surrounded by the biggest copper mining companies in the world. I’m looking forward to getting stuck into this project.

As it happens I already blog on a regular basis for Fission and you can find my CEO Corner here but I enjoy blogging and wanted to share thoughts, experiences and opinions on the markets and the mining industry.  Feel free to comment once I start getting more posts out there.

Dev Randhawa online

My social media activity is growing. You can connect with me and keep up to date with activity via

Dev Randhawa on Twitter

Dev Randhawa on Google+

Dev Randhawa on LinkedIn

Dev Randhawa on YouTube

Dev Randhawa at Trinity Western.

Dev Randhawa