This is the Investing News Network. I'm Georgia Williams and we're here for day three of PDAC in Toronto. Joining me is Michael Collins, CEO and director of Generation Uranium. It's nice to meet you, Michael. >> Thank you for having me on, Georgia. >> It's a pleasure. Yeah. >> Um I was wondering if we could start with your ticker symbol and the exchange that you trade on. >> We trade on the Toronto um venture exchange and our ticker is Gen Jen. >> Love it. Um day three of PDAC. How's it


been? >> It's been a busy couple days. It's really the excitement this year is is quite amazing. >> Yeah. >> Yeah. >> And the investor sentiment, are you able to talk to any investors? Are they >> Yeah, we didn't have a booth um this year. Uh, I just joined the company a short while ago. So, we're spinning up um promotion and and things like this, but it's been a great opportunity to reconnect people that I know in the uranium space and get a sense of what


they're thinking. And it's it's a very bullish moment. Um, you can see that kind of sentiment in both the the uh spot price, but also the long-term buying schedules and things like that. And everybody everybody knows it's on. >> Yeah. It's a very good time to be in uranium. >> Yes. And as your name implies, you are an uranium focused company. Yeah. >> Um and you're focused in Canada, but you also have um some projects elsewhere. >> Um actually, so our our core project is


up in Nunovet, just south of Baker Lake, right in the Angeluni Basin on the northern margin of the Angeluni Basin. We've been looking at assets in uh the Aabaska as well and looking to expand there. Um and you know we think my my whole thesis is that this cycle is going to be driven by the value is going to be in discovery in the Aabaska and in the theolon and and associated basins up in the in the territories. >> Yeah. And the Aabaska Aabaska basin is buzzing right now. We have Dennis who's


you know building the mine now. And >> they're Yeah. They're on the threshold of a production decision. NextG is waiting for their final permit and they're shovel ready as well. Um I saw a great presentation this morning uh from the guys at Paladin and they're pretty excited about you know hopefully um year year and a half. >> Yeah. >> Running running there too. So yeah, there's there's just a lot going on. >> Um and the uranium market has been punctuated with increased positivity


over the last 18 months. Um I'm wondering how the current cycle compares to previous ones that you've witnessed. Okay. So my first public company um I built in 2005 2010 in that that uranium cycle and we had focused on uh near-term production and aggregate small mines in the US southwest. Um it was it was a short cycle and I don't think it was a fully formed one. It was overoptimistic and the Kazakhstan uh production just came in and swept all the value out of the market. that's


done. There are no cheap pounds out there, you know. Um, and that makes it that combined with uh the expiration tools we have today compared to then um means for me that that's you know discovery is where the value is this cycle and and um and it's a lot tighter of a market. So we won't see the same issues. We're also seeing, you know, the last cycle was predicated on on new uh reactor construction and there's a lot of that and there's a lot of energy demand, but we're also seeing things


like um refurb on um and rellicensing, extended licensing on existing reactors. And I was listening to um um folks from Camco this morning and they were like, "Yeah, you know, every time they refurb one, that's 10 million pounds." >> Yeah. that that gets added to demand and that's just happening over and over again and uh >> yeah increased capacity on refurbishment and longer lives and that those are things that people don't factor in u but they're having a profound impact in


terms of the market today. >> Yeah. And I think like that's sort of you know the number one thing is that nuclear reactors were the driver then and now we have so many different drivers. There's AI data centers and even SMRs. That presentation today was the first time I've actually heard SMR um manufacturers being purchasers >> in the market. Okay. Yeah, they were talking about, you know, they're out there purchasing pounds as well. So, >> okay. I missed that presentation. That's


that's impressive and it's it's going to happen. Very Yeah, this is starting. >> Yeah. Very exciting. Um, generation has a particularly bullish attitude about the the Aabaska basins. Can you tell us about the exploration potential of the region and your strategy there? >> All right. So, um there's been a lot of work over the years in the Aabaska, >> but it's it's there it's a fairly deep basin. If you're get away from the margins, it deepens quickly. Um and


geoysics have been a key aspect of discovery there. And in the last 10 years, they've gone from, you know, being able to do geophysical targeting that was sort of on the hundreds of meters of accuracy down to tens of meters and more discreet and focused. So, what used to be um shooting shotguns in the dark is now, you know, shooting 22s at specific um targets and things like that. When we look at the theon and where we're at, we're actually outside of the theon, but we're in a a


neighboring small smaller basin, the density of discovery to date is is so much better than it is in the Aabaska and the grades are really quite impressive. Um, but what we're seeing there is there's only about 40 years of of expiration that's happened in Nunvot versus um 80 in the Aabaska. So it's still very early days there but the uh resources and the development of projects things it's happening faster I think in some ways than it is in the Aabaska >> and the grades are better than that in


Aabaska. >> Yeah. Some of some of the places they are. Yeah. >> And it's been referred to as the um Saudi Arabia of uranium. >> Very much so. >> That's exciting. >> Yeah. >> Um the WNA and the IEA are projecting potential uranium supply deficits as the world brings on more nuclear reactors. What does this mean for exploration companies? >> Well, it really brings eyes to to the industry and um it it creates a demand that we can fill, you know, and that's


that gets investors excited and gives us the opportunity to get out there and make those discoveries and that's actually what gets me really excited. >> Absolutely. And some of the resources, you know, in the Atabaska Basin that are being utilized right now are, you know, coming to an end of May life. So, we're, you know, we're gonna need some fresh supply. >> Yes. Yep. >> Um, what generation uranium catalyst can investors be looking forward to? >> All right. So, we're we're looking to


get um working on the project this year, the Yath project up in in Nunvoot. Um, the very least we'll be doing um some significant surface exploration project uh redefining and tightening up exactly what we're looking at. And we're hoping to get a drill turning later in the year. That's exciting. >> Absolutely. Well, thank you for joining me today, Michael. >> Pleasure. Really >> lovely to speak with you. >> Pleased to have the opportunity to tell our story and and I hope people will


take a closer look at us. >> Yeah. And you know, there's uh a lot of buzz around uranium. So, it's really exciting time to, you know, be involved in nuclear energy. >> Yeah. >> Thank you. >> Okay. >> I'm Georgia Williams and that was Michael Collins, CEO and director of Generation Uranium.