With Long-Term Uranium at US$98, Wyoming’s In-Situ Basins Draw a New Acquirer
Key Highlights
- ➤Eagle to acquire Noble Plains in all-stock deal at approximately 92% premium
- ➤Duck Creek resource totals 5.32 million pounds Indicated and 1.04 million Inferred U3O8
- ➤Long-term uranium price reaches US$98.00 per pound at October-end
- ➤Cameco reports C$43 million net earnings and C$267 million adjusted EBITDA
- ➤Peninsula reconfirms 2027 production guidance of 500,000 to 600,000 pounds U3O8
Expert Statements
Mark Mukhija, CEO of Eagle Nuclear Energy
“This transaction gives Eagle greater scale at a time when demand for U.S. uranium is growing”
Tim Gitzel, CEO of Cameco
“We will not advance production, commit capital or pursue growth simply in response to headlines, short-term price movements or market enthusiasm surrounding any single theme”
Richard Little, Chief Executive Officer of enCore
“Permitting has been the last step between the infrastructure we have built in South Texas and new production”
Corey Dias, CEO of Anfield
“Our goal remains to restore domestic conventional uranium and vanadium milling capacity in the United States”
George Bauk, Managing Director and CEO of Peninsula Energy
“While the production ramp-up is taking longer than anticipated, we are now seeing positive evidence that the changes we are implementing can deliver meaningful improvements in wellfield performance”
RENO, Nev., Nov. 04, 2026 (GLOBE NEWSWIRE) -- Market Updates News Commentary - The long-term uranium price indicator published by Cameco Corporation rose to US$98.00 per pound at the end of October, up from US$96.50 in August and September, while its spot indicator finished the month at US$91.55. Much of the attention in the U.S. supply story is landing on Wyoming, which has produced more than 238 million pounds of uranium since its first uranium mines opened in 1951, according to the Wyoming State Geological Survey, and where most of the country’s in-situ recovery (ISR) production now takes place. Companies mentioned in today’s commentary include: Eagle Nuclear Energy Corp. (NASDAQ: NUCL), enCore Energy Corp. (NASDAQ: EU) (TSXV: EU), Cameco Corporation (NYSE: CCJ) (TSX: CCO), Anfield Energy Inc. (NASDAQ: AEC) (TSX.V: AEC), Peninsula Energy Limited (ASX: PEN) (OTCQB: PENMF).
In the second quarter of 2026, U.S. uranium production came from six facilities, four of them ISR operations in Wyoming, according to the U.S. Energy Information Administration (EIA). Those four Wyoming sites produced a combined 175,249 pounds in the quarter, based on EIA’s facility-level table, while the largest single contributor to national output was a conventional mill in Utah. Wyoming also accounted for 348 of the 711 full-time person-years employed in the U.S. uranium production industry in 2025, up from 89 in 2022, and EIA reported that exploration and development drilling in 2025 recorded the most holes since 2012.
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