The world has (mostly) committed to “net zero” by around mid-century, meaning that there will be no net emissions of “greenhouse gasses”, which encompasses a lot of things. The problem is how to get there? Our world is a mostly hydrocarbon-based energy economy. No one is willing to go backwards or compromise anything to get there, so something has to give.
Crosscheck to nuclear power for a moment, this cleantech option is regrettably demonized by activists. We struggle to counter the social media operatives with science and mathematics. Canada, which once lead the world in nuclear reactor technology with the Candu reactor design (safe and reliable) is still a global leader in uranium exploration, energy resources, and safe and efficient uranium mining, mostly in the province of Saskatchewan.
Enter Fission 3.0 Corp. (TSXV: FUU | OTCQB: FISOF) – a third generation company with a management team that has already succeeded twice in finding uranium in one of the most prolific uranium districts in the world, the Athabasca Basin in Saskatchewan. There are a significant number of exploration companies with exploration assets in the region, but Fission has the benefit of “been there, done that” twice in the area, so we can say with some degree of certainty that Fission is run by one of Canada’s leading uranium exploration teams.
We recently interviewed CEO Dev Randhawa on the Uranium Boomlet and how US President Biden is continuing with former President Trump’s green energy policies. After all, you can’t have electric cars without electricity if Net Zero is the objective, the world cannot generate enough electricity without the nuclear option.
Fission 3.0 recently raised $8.0 million and has about $10.0 million cash on the balance sheet, so they are well-funded for future drilling. As investors know “discoveries matter” and also, you must (in any industry) invest with teams that have done it before. The exploration team at Fission has a successful methodology that has a proven track record and in Saskatchewan, that is a necessity.
With cash in the bank, the company estimates that it has enough cash in the bank to initially drill three of its exploration prospects. Plans are being made for winter drilling and the associated logistics, so watch for drilling to commence this winter with results to come out afterwards. The company currently owns their properties, 100%, but may be looking to joint venture with partners as well. In any event, they can drill the projects on their own if they decide to do that.
It is naïve to think that just nuclear energy will save the world from a cold and dark future, as I agree with Bill Gates that the road to avoiding climate disaster will take many difficult paths to get to Net Zero. But in the shorter term, we need alternate, clean sources of energy. You can argue successfully about the contribution of hydrocarbons to climate change, but you cannot argue that nuclear is not a viable option.
Fission 3.0 is part of the solution. They have successfully done it twice before – it’s hard to argue that.