Article Republished By Javier Troconis
As the world is moving on an environmentally conscious trajectory, several green energy companies have hit the spotlight in recent years, rapidly fast-tracking operations and capabilities in order to fulfil the requirements of this ‘green future’.
Traditionally, green energy would only encompass renewable energy sources like solar, hydro and wind.
However, in a wider context, hydrogen, helium and even nuclear energy are also stalwarts in the green energy spectrum, with prospects of hydrogen energy gaining a lot of traction lately.
The highlight of the March quarter was the skyrocketing uranium prices, surging to a spot price moving past an 11 year high of $60 US$/pound recently.
Several uranium explorers are advancing exploration, some already benefiting significantly with the rise in prices and others accelerating to catch the tailwind of this recent development.
Uranium prices surged during the March quarter
Green Energy companies in the spotlight:
During the quarter, Frontier Energy Ltd (ASX:FHE) successfully re-listed on the ASX following a change in direction and strategy with a new focus on clean energy, and more specifically green hydrogen backed by an $8 million capital raising.
The company’s flagship clean energy asset is the Bristol Springs Solar Project, a large-scale solar energy project (114MW) dc of electricity production) in the Southwest region of Western Australia.
BSS Project with animated solar panel array.
On the hydrogen front, Frontier has placed an order for a hydrogen refuelling station, one of the first hydrogen refuelling stations to be built and operating in Western Australia.
This order aligns with the company’s long-term strategy for vertical integration across the hydrogen industry by rolling out a ‘Hydrogen Highway’ across the State
During the March quarter, Montem Resources Ltd (ASX:MR1) advanced plans to transition its Tent Mountain Project in Alberta, Canada, into a renewable energy complex (TM-REX), following separate independent expert studies in 2019 and 2021 demonstrating the project’s strong viability to host renewables.
The steelmaking coal company is delving into the green energy sector with the TM-REX project in Alberta which will comprise 320 MW Pumped Hydro Energy Storage (PHES), 100 MW Green Hydrogen Electrolyser and 100 MW Wind Farm (offsite) and potential to be Canada’s first large-scale green hydrogen production facility.
How will green hydrogen be produced at Tent Mountain ?
Post the reporting period, Montem entered into an MoU with Invest Alberta that outlines a joint commitment to establish the TM-REX Project.
Blue Star Helium
Blue Star Helium Ltd (ASX:BNL, OTC:BSNLF) delivered a busy March quarter, with a cash balance of $13.60 million, advancing its helium exploration prospects in North America.
During the quarter, the helium explorer spudded its maiden Enterprise 16#1 exploration well in Colorado, with new, deeper gas-water contact (GWC) identified, increasing the structural gas column to 78 feet
Moving forward, BNL is advancing permitting and drilling campaigns across its portfolio with 47 permits in process and 10 helium wells (including Enterprise 16#1) targeted to be permitted and drilled during 2022.
BNL wells in colarado
Magnis Energy Technologies
Magnis Energy Technologies Ltd (ASX:MNS, OTCQX:MNSEF) is set to begin production of its lithium-ion battery cells in June this year.
During the quarter, the company made strong progress at its subsidiary Imperium3 New York Inc’s (iM3NY) battery plant based in Endicott, New York,
Importantly, the batteries produced will not contain cobalt or nickel, two battery metals which have experienced extraordinary price increases recently due to significant geopolitical risks.
On the graphite front, Magnis has advanced its wholly-owned Nachu Graphite Project in Tanzania towards production.
Post reporting period, the company had developed cheap, green graphite for battery anode materials.
Uranium explorers in the spotlight:
Uranium explorers have had a good run during the March quarter, with several companies outlining new explorations areas and delivering strong results.
GTI Resources Ltd (ASX:GTR) completed its maiden drilling program at Thor ISR Uranium Project in Wyoming’s Great Divide Basin and has identified mineralisation that has economic potential based on widths, grades and depth.
The company has also acquired nearly 14,000 acres of contiguous ISR uranium exploration claims near Rio Tinto’s uranium properties in Wyoming’s Great Divide Basin.
Likewise, during the quarter, Valor Resources Ltd (ASX:VAL) kicked off its maiden diamond drilling program at Hook Lake Uranium Project within a world-class uranium province, the Athabasca Basin in Saskatchewan, Canada.
Also, the company identified a large IP target prospective for porphyry copper at Picha Project in Peru.
Okapi Resources Ltd (ASX:OKR) acquired a portfolio of six advanced exploration projects in the world’s premier high-grade uranium district, the Athabasca Basin in Canada.
High-grade rock chips samples returned values up to 1.24% triuranium octoxide at the Rattler Uranium Project.
Alligator Energy Ltd (ASX:AGE) delivered high-grade uranium hits from its phase one sonic core drilling program within the Blackbush resource at Samphire Uranium Project in South Australia.
The company also ended the March quarter in a strong financial position, with a cash balance of $27.7 million, advancing its uranium assets
Lotus Resources Ltd (ASX:LOT) has a busy quarter bolstering its mineral resource for the Kayelekera Uranium Mine to 46.3 million pounds at 500 parts per million (ppm) triuranium octoxide plotting a 23% increase compared to the previous estimates.
Looking ahead, the company is set to incorporate this updated MRE into its definitive feasibility study, which is on track for release mid-this year.
Also updating during the quarter was Peninsula Energy Ltd (ASX:PEN, OTCQB:PENMF), which is initiating an update to the 2018 Low-pH Feasibility Study on its flagship Lance Project in Wyoming, US, ahead of considering a final investment decision on restarting production.
The updated study is expected to be completed in the third quarter of 2022 and will incorporate results and conclusions from technical de-risking activities, including the recently completed MU1A field demonstration.