Uranium Energy CorpUEC
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Widening losses, premium valuation, and Zacks Sell rating
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Eagle Plains Reports Anomalous Radioactivity at Don Lake Uranium Project
Eagle Plains Resources Ltd. and partner Xcite Uranium Inc. reported additional drilling results from the Don Lake uranium project near Uranium City, Saskatchewan, where the B Zone and C Zone targets intersected multiple zones of anomalous radioactivity. The 1106m, 10-hole program, contracted to Apex Drilling, tested for structurally-controlled uranium mineralization defined by historical work and the 2025-2026 field programs. Highlights included DN26005 with 1.3m averaging 2898 cps, DN26006 with 5.5m averaging 2656 cps, DN26008 with 0.7m averaging 10403 cps, and DN26009 with 0.6m averaging 12473 cps. The first three holes at Don Lake in 2026, completed in the A Zone area, also intersected anomalous radioactivity, including DN26001 with 1.9m averaging 11571 cps, DN26002 with 1.1m averaging 11753 cps, and DN26003 with 1.2m averaging 2700 cps. Geochemical assays of drill core samples are pending, and the approved 2026 budget for Don Lake is approximately $1.1 million, consisting of $200,000 in completed fieldwork and $900,000 allocated for drilling, with all work managed by TerraLogic Exploration Inc. Under a December 2023 agreement, Xcite holds the exclusive right to earn up to an 80% interest in the Don Lake, Gulch, Lorado, Beaver River, Black Bay, and Smitty projects, which cover 54 Saskatchewan Mineral Deposit Index occurrences and five past-producing uranium mines and are 100% owned by Eagle Plains.
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EU Opens Door to Canada as First Associate Member, Aiming to Deepen Tech, Defense and Energy Cooperation
Ursula von der Leyen, President of the European Commission, announced on September 16 that the European Union is opening the door to welcoming Canada as the bloc's first associate member, a new cooperation framework never before specified in EU treaties. Speaking during her annual policy address to the European Parliament in Strasbourg, France, she said the two sides will cooperate comprehensively across areas ranging from smart manufacturing, critical strategic minerals and energy to AI, and will establish a technology alliance, integrate their defense industrial bases, and push to make the Arctic region a flagship cooperation project. The EC President stressed that this partnership is not aimed against anyone else, while many observers see it as Europe's effort to avoid confrontation with U.S. President Donald Trump. The move marks a major policy shift for the EU, which has in the past generally rejected flexible membership categories, with most EU member states still reserving judgment on Germany's May proposal to grant Ukraine associate member status as a path toward full membership. Canadian Prime Minister Mark Carney said earlier this week that Canada is seeking a unique partnership with the EU but does not want full membership. The EC President has invited Prime Minister Carney to a meeting in Strasbourg, and the Canadian leader is scheduled to deliver a speech on Thursday, September 17, following a historic rupture in Canada-U.S. relations caused by failed trade negotiations last month that led to tit-for-tat tariff measures.
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Canada Seeks Investment in More Than 160 Projects Amid Trade War With US
Canadian Prime Minister Carney is aiming to attract investment in more than 160 projects as a key to weathering the trade war with the United States. According to the Prime Minister's Office, Carney, a former Goldman Sachs executive, held one-on-one meetings on the 14th with BlackRock CEO Larry Fink and Blackstone President Jon Gray, among others. According to government sources, the summit, mainly to be held on the 15th, will feature discussions on future investment, but it could take 12 to 18 months before large-scale deals materialize. Carney has pledged to attract 1 trillion Canadian dollars, or 721 billion US dollars, in investment over the next five years through deregulation and the promotion of mining, energy, technology, and infrastructure projects. At a welcome reception on the 13th, Carney said that some of the world's largest investors, who manage more than 120 trillion Canadian dollars in assets, are now looking at Canada differently than before.