February 2nd, 2026 | 07:00 CET
Uranium rush in the Athabasca Basin: Stallion Uranium follows in the footsteps of NexGen Energy – an opportunity for Cameco too?
The global energy industry is currently experiencing a renaissance that seemed unthinkable just a few years ago. Driven by the insatiable appetite for electricity of AI data centers and the geopolitical imperative to become independent of fossil fuel imports, nuclear power is making a comeback as an indispensable source of base load power. However, the nuclear power comeback is facing a harsh reality: the supply of nuclear fuel is lagging behind demand. While reactors are running longer and new ones are coming online, suppliers' inventories are running low. This structural supply deficit has sparked a race for the few remaining world-class deposits. The center of this search is in Saskatchewan, Canada, more specifically in the southwestern Athabasca Basin. A clear hierarchy has emerged here. Industry giant Cameco must produce, developer NexGen Energy has proven the geological potential, and explorer Stallion Uranium has secured the strategically crucial land package to cause a sensation with the next big discovery. We get to the bottom of the details.
time to read: 3 minutes
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Author:
Nico Popp
ISIN:
STALLION URANIUM CORP | CA8529192087 , NEXGEN ENERGY LTD | CA65340P1062 , CAMECO CORP. | CA13321L1085
Table of contents:
"[...] Internally we expect the resource to significantly grow the deeper we mine. [...]" Dennis Karp, Executive Chairman, Manuka Resources
Author
Nico Popp
At home in Southern Germany, the passionate stock exchange expert has been accompanying the capital markets for about twenty years. With a soft spot for smaller companies, he is constantly on the lookout for exciting investment stories.
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The pressure of demand: Why Cameco needs new uranium
To understand the urgency of the situation, one must look to Cameco. The Canadian market leader is the backbone of Western uranium supply. But even giants have their problems in the current environment: legendary mines such as Cigar Lake have a finite lifespan, and production costs are rising. To fulfill its long-term supply contracts, Cameco cannot rely solely on internal optimization - the Company must acquire additional reserves in the long term.
The market has changed. It is no longer enough to find uranium anywhere. What is needed are high-grade deposits in secure jurisdictions that can be mined economically even when prices are volatile. Cameco is therefore the obvious buyer for these projects: anyone who finds new, high-purity uranium in Canada has a potential buyer in the industry leader, which is under pressure due to circumstances on the uranium market.
NexGen Energy: Proof that geology knows no boundaries
For a long time, the southwestern part of the Athabasca Basin was considered uninteresting. NexGen Energy has shattered this dogma. With the discovery of the Arrow deposit, a massive, high-grade uranium ore body, the Company has proven that this region offers excellent potential. Arrow is considered one of the most important mining projects in the world and has earned NexGen a billion-dollar valuation.
For geologists, this was the starting signal for a new gold rush – or rather, a uranium rush. NexGen has shown that the conductive corridors in the rock can also be high-grade in the southwest. This finding is the basis for the valuation of all properties in the neighborhood. Those who own land here have a ticket in the geological lottery with the highest odds in industry.
Stallion Uranium: The neighbor with huge potential
This is precisely where Stallion Uranium is positioned. The Company did not simply buy land, but implemented an aggressive consolidation strategy. With over 3,000 km², Stallion holds the largest contiguous exploration area in the southwestern Athabasca Basin. Particularly exciting: the claims are located in the immediate vicinity of NexGen's Arrow project and F3 Uranium's promising PLN deposit.
But Stallion is not relying solely on location. The Company systematically applies modern geophysics to identify the very structures that made NexGen great. A 5,500 m drilling program is currently underway, focusing on the Coyote exploration target, among others. This target is located only about 12 km east of Arrow and exhibits geophysical signatures that are catching the attention of experts.
A key advantage for investors is the financing model. Through a joint venture with Atherton Resources (which is financed by the renowned ATHA Energy, among others), Stallion can push ahead with the expensive drilling program without excessively diluting its own shareholders. This is a strong vote of confidence from industry insiders who are willing to invest millions in the exploration of Stallion's land.
Stallion Uranium: Uranium opportunity in a bull market
The investment logic behind Stallion Uranium is easy to explain. Investors are not investing in a vague hope in the desert, but in the most dominant land package in the hottest uranium region in the Western Hemisphere. While Cameco has to solve production and supply problems and NexGen is already trading at a billion-dollar valuation, Stallion Uranium still offers the classic leverage of an early-stage explorer. While typical exploration risks remain, the combination of close proximity to world-class discoveries, a fully funded drilling program, and partnerships with well-capitalized players maximizes the probability of a hit. If Stallion finds even a fraction of what NexGen discovered at Arrow on its vast property, the stock could experience a revaluation that far exceeds its current price. For risk-aware investors, Stallion Uranium is an obvious bet on the next big discovery in the Athabasca Basin.
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