Baselode Energy (TSXV:FIND) - Uranium Explorer Targets New Discovery

Interview with James Sykes, President & CEO of Baselode Energy Corp.

Our previous interview: https://www.cruxinvestor.com/posts/baselode-energy-tsxvfind-pioneering-near-surface-uranium-exploration-in-athabasca-basin-5896

Recording date: 20th February 2025

Baselode Energy CEO James Sykes recently discussed the company's uranium exploration strategy and market outlook, highlighting both challenges and opportunities in the current market environment. The company is pursuing a dual-track approach, advancing its flagship ACKIO uranium deposit while seeking new discoveries at its Hook project.

With $10 million in treasury, including $5 million allocated for exploration, Baselode is well-positioned to execute its plans through 2025. This strong financial position enables the company to weather market volatility and potentially capitalize on distressed uranium assets.

The ACKIO deposit shows promise as an economically viable open-pit mine, though Sykes notes the market has not fully recognized its value. The company is pursuing a hub-and-spoke development model, aiming to make additional discoveries within 5-6 kilometers of ACKIO to enhance project economics. Baselode is actively seeking strategic partners to help advance ACKIO through economic studies and permitting stages.

Looking at the broader uranium market, Sykes emphasizes growing demand coupled with supply challenges. "The demand out there continues to grow and the supply somehow seemingly continues to diminish. Global projects are finding it harder to come online, which is really diminishing the supply side outlook," he states.

The company's exploration focus has shifted to the Hook project, where two high-priority targets could potentially deliver a new high-grade discovery. Drilling at these targets is planned for 2025, representing a significant catalyst for the company.

Sykes points to structural changes in uranium supply since the Fukushima incident, noting that new discoveries have altered the outlook for both the Athabasca Basin and global projects. However, years of underinvestment in uranium exploration and development, combined with mine closures and production cuts, have created a persistent supply deficit.

The investment thesis for Baselode centers on its strong cash position, potential for new discoveries, and the strategic value of the ACKIO deposit. The company believes its current market valuation doesn't reflect the long-term potential of its assets or the improving fundamentals of the uranium market.

As governments worldwide increasingly recognize nuclear power's role in achieving climate goals and ensuring energy security, Baselode appears well-positioned to benefit from this transition. The company's focus on making new discoveries while advancing existing assets provides multiple pathways for value creation in an improving uranium market.

View Baselode Energy's company profile: https://www.cruxinvestor.com/companies/baselode-energy

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