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The price of uranium is once again hovering around the $90 per pound U₃O₈ mark. According to Trading Economics, the benchmark price even briefly exceeded $90.00 on August 27, 2026. Compared to the same period last year, this represented an increase of approximately 20 percent. The figure is based on a CFD that tracks the uranium benchmark market.

The return to this threshold is more than just a round number. It comes at a time when long-term reactor demand is rising, but new mines require time, capital, and permits. For developers and exploration companies, a higher uranium price generally improves the business environment.

More Nuclear Power — But Not Every Expansion Goal Will Become Reality!

The World Nuclear Association describes far-reaching expansion potential: If existing reactors continue to operate and national targets for new construction are met, global nuclear power capacity could rise to around 1,446 GWe by 2050. That would exceed the internationally stated goal of tripling capacity to about 1,200 GWe.

Nevertheless, the direction is clear. The U.S. is pursuing the policy goal of expanding its nuclear power capacity from about 100 to 400 GWe by 2050. At the end of July, China approved the construction of eight additional reactors. As part of its Nuclear Energy Mission, India plans to build at least five domestically developed small modular reactors, which are scheduled to be operational by 2033. At the same time, electrification, security of supply, and the growing electricity demand of digital infrastructure are driving the discussion around baseload-capable, low-carbon energy sources.

On the supply side, concentration remains high. In 2024, Kazakhstan accounted for approximately 39 percent of global uranium mine production. Temporary disruptions affecting individual producers or their supply chains can therefore attract attention. The Cigar Lake mine had to temporarily suspend operations in July due to problems with the sulfuric acid supply to the McClean Lake plant. However, Cameco resumed production on July 14 and confirmed its forecast for 2026. The incident was thus not a permanent production outage, but it underscores the vulnerability of the fuel chain.

The long-term outlook for uranium remains positive, even if the path ahead may be volatile at times. It is precisely in this context that IsoEnergy and Premier American Uranium are positioning themselves, each with a distinct corporate profile.

IsoEnergy: High-grade resource meets new U.S. platform

IsoEnergy Ltd. – https://www.commodity-tv.com/play/isoenergy-ceo-on-the-disa-deal-to-enhance-the-future-us-uranium-production/https://www.commodity-tv.com/play/isoenergy-ceo-on-the-disa-deal-to-enhance-the-future-us-uranium-production/ – is a globally diversified uranium company with projects and resources in Canada, the United States, and Australia. The company is not currently producing uranium. Its flagship technical asset is Larocque East in the eastern Athabasca Basin in Saskatchewan, which includes the Hurricane deposit.

Hurricane has a current mineral resource of 48.6 million pounds of U₃O₈ averaging 34.5 percent U₃O₈ in the Indicated category, as well as 2.7 million pounds averaging 2.2 percent U₃O₈ in the Inferred category. According to the company, the mineralization lies at a depth of approximately 325 meters and about 40 kilometers northwest of the McClean Lake mill. This combination of high grade, relatively shallow depth, and existing regional infrastructure forms the core of the Canadian investment thesis.

In the summer of 2026, IsoEnergy continued a program on the Hurricane South Trend designed to drill up to 8,000 meters and up to 20 drill holes. According to a company announcement, the first four completed drill holes encountered elevated radioactivity. The results are intended primarily to investigate continuity and potential for expansion beyond the current resource area.

DISA Uranium: 33 Percent Stake Instead of a Full Takeover!

On August 19, 2026, IsoEnergy and DISA Technologies closed the transaction to form DISA Uranium Corporation. IsoEnergy contributed its portfolio of permitted, formerly producing uranium mines in Utah, invested $33 million, and, following the completion of the transaction and the $105 million financing, holds approximately 33 percent on a fully diluted basis. This makes IsoEnergy the largest shareholder of DISA Uranium.

DISA Uranium combines the contributed Utah projects with technology for processing and remediating historic uranium mining tailings. According to DISA Uranium, Tony M is a short-term priority. For IsoEnergy, however, the investment opens up additional access to the political dynamics surrounding a stronger U.S. uranium supply.

Another recent development concerns local collaboration: On August 24, IsoEnergy entered into an exploration agreement with Kineepik Métis Local. It establishes a framework for ongoing dialogue, information sharing, and employment, training, and business opportunities. This strengthens the structured involvement of the affected community in further exploration in Saskatchewan.

Premier American Uranium: Cebolleta and Kaycee Provide Concrete Catalysts

Premier American Uranium Inc. – https://www.commodity-tv.com/ondemand/companies/profil/premier-american-uranium-inc/ – focuses on the consolidation, exploration, and development of uranium projects in the U.S. Its portfolio spans five major uranium regions. Active work programs are underway primarily in the Grants Mineral Belt in New Mexico, as well as in the Great Divide and Powder River Basin in Wyoming.

Cebolleta: $90 is already the basis of the PEA

Of particular interest is the connection to the current uranium price. The preliminary economic assessment for 2025 uses $90 per pound of U₃O₈ in its base case scenario—nearly exactly in line with the current market environment. The PEA outlines a potential mine life of 13 years, an average annual production of approximately 1.4 million pounds of U₃O₈, and a total of 18.1 million pounds of recoverable eU₃O₈.

Based on this, the study reports a post-tax present value of $83.9 million at an 8 percent discount rate, a post-tax internal rate of return of 17.7 percent, and a total initial investment of approximately $112.7 million.

The PQ core drilling program, completed in 2026, comprised 6,030 feet in 18 vertical drill holes. Seventy-seven core samples totaling 2,124 pounds of material were delivered to Hazen Research. The ongoing metallurgical tests are intended to determine whether the uranium recovery rate assumed in the PEA for the heap leaching process can be improved. A sensitivity analysis of the PEA shows that if the assumed recovery rate were to increase from 80 to 90 percent and all other assumptions remained unchanged, the after-tax NPV₈ would rise from approximately $84 million to approximately $159 million. The company aims to release an updated PEA in 2027.

Kaycee: 42 Percent of Drilling Program Completed

At the wholly-owned Kaycee project in the Powder River Basin, 50 drill holes totaling 41,960 feet — representing approximately 42 percent of the planned 100,000-foot program — had been completed as of August 17. Among the stronger published intervals is drill hole RT26-085, which returned 3.5 feet at 0.135 percent eU₃O₈, including 2.0 feet at 0.204 percent eU₃O₈. The data are based on gamma-ray log measurements and represent radiometrically derived equivalent grades, not direct chemical analyses. The ongoing program is intended to refine the geological model, trace mineralized trends, and prioritize target areas for a potential future resource definition.

Conclusion: Two Different Approaches to the Same Uranium Market

The uranium market is gaining momentum from long-term increases in reactor demand, energy security, and new electricity consumers. The reference price of around $90 is drawing greater attention to projects that depend on a sustainable price environment. Short-term fluctuations remain likely, however, and policy targets should not be equated with actual reactors under construction.

IsoEnergy combines an exceptionally high-grade Canadian resource with a significant stake in a newly formed U.S. uranium platform. The next key developments are likely to come from exploration on the Hurricane South Trend and the operational development of DISA Uranium.

Premier American Uranium offers a more development- and exploration-oriented approach. At Cebolleta, the focus is on metallurgical optimization, while at Kaycee, the large drilling program is intended to broaden the basis for a potential future resource definition. Should technical results, financing, permits, and implementation all align, both projects could gain strategic importance in the context of a stronger domestic U.S. uranium supply.

For investors, therefore, it is not only the price of uranium that remains crucial, but above all the quality of the company’s upcoming milestones.

Scientific and Technical Basis

The information regarding Larocque East/Hurricane is based on IsoEnergy press releases, the scientific and technical content of which was reviewed and approved by Dr. Dan Brisbin, P.Geo., Vice President of Exploration at IsoEnergy and a Qualified Person under NI 43-101. The information regarding the Cebolleta PEA and the mineral resource estimate is based on the technical report and company press releases, respectively, from Premier American Uranium; Mark B. Mathisen, C.P.G., and, for the work program, Terry McNulty, P.E., are listed there as the responsible Qualified Persons, among others. The information regarding Kaycee was reviewed and approved by J.J. Brown, P.G., SME-RM, Vice President of Exploration at Premier American Uranium and a Qualified Person under NI 43-101.

These reviews are based exclusively on the respective primary sources. SRC swiss resource capital AG and the author have not independently verified the scientific or technical information.

Sources and Data as of

Uranium price: Trading Economics, Uranium – Price – Chart – Historical Data – News, as of August 28, 2026

Price indicator: TradeTech, Daily Uranium Spot Price Indicator – Methodology

Nuclear Power Expansion: World Nuclear Association, World Nuclear Outlook Report, updated January 22, 2026

Uranium production: World Nuclear Association, World Uranium Mining Production

U.S.: U.S. Department of Energy, Fact Sheet: Accelerating Deployment of Nuclear Power

China: World Nuclear News, China Approves Construction of Eight More Reactors

India: Government of India, Nuclear Energy Mission / Small Modular Reactors

Cigar Lake: Cameco, Cigar Lake Mine Resumes Production, July 14, 2026

Hurricane: IsoEnergy, Summer Drilling at Hurricane South Trend, July 8, 2026

DISA Uranium: IsoEnergy, Closing of Transaction to Form DISA Uranium Corporation, August 19, 2026

Kineepik: IsoEnergy, Exploration Agreement with Kineepik Métis Local, August 24, 2026

Cebolleta: Premier American Uranium, Completion of Drilling Program and Metallurgical Samples, July 13, 2026

Cebolleta-PEA: Premier American Uranium, 2026 New Mexico Work Program / PEA Sensitivities, March 27, 2026

Kaycee: Premier American Uranium, Mid-Season Drill Results, August 17, 2026

Data as of: August 28, 2026, 1:30 p.m. Zurich/Berlin. Market prices may change prior to publication.

Important Information, Conflicts of Interest, and Disclaimers

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Forward-Looking Information and Scientific and Technical Statements: This article contains forward-looking information, corporate objectives, and scientific and technical statements. These are based on assumptions, estimates, and expectations as of the date of publication; actual results may differ materially due to known and unknown risks. Mineral resources are not mineral reserves and do not indicate proven economic viability. A PEA is preliminary and may include inferred mineral resources that are considered geologically too speculative to apply economic considerations that would allow for classification as mineral reserves. There is no certainty that the results of a PEA will be realized. Radiometrically derived eU₃O₈ grades and radioactivity measurements are not direct chemical uranium analyses. The QP reviews mentioned refer exclusively to the respective primary sources; SRC swiss resource capital AG has not independently verified the scientific or technical data.

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