The deal and how Foremost is dropping lithium from its name show how poor prices for the light metal have quashed near-term development projects. Prices for battery grade lithium and for spodumene concentrate have tanked in the past year. Uranium producers continue to grow with a resurgent nuclear energy industry even as the heavy metal’s spot price has eased from a 17-year record high in January. Global moves away from fossil fuels are propelling the sector.
“This collaboration will advance significant near-term exploration and development efforts across numerous high-quality exploration projects to maximize the properties’ potential,” Foremost president and CEO Jason Barnard said in a release. “The Athabasca Basin is recognized as one of the world’s leading uranium jurisdictions.”
Shares in Denison Mines gained 2.3% to C$2.42 apiece by mid-Tuesday in Toronto, valuing the company at C$2.2 billion. They’ve traded in…
