Alex Klenman, CEO of Agincourt Energy (TSXV:AAZ,OTCQB:AZURF,FWB:A0U2), discussed the company’s strong position despite the recent downturn in the uranium industry.

“We’re cashed in, we’re exploring, we have two big plans,” Klenman said in the interview. “And we’re in a very good position to move into the next phase here. We’re capitalized and have two active projects. One is getting significantly hotter. That one is the 2 kilometer alteration zone in the the Athabasca.

Agincourt’s flagship uranium project, East Preston, covers more than 25,000 hectares in the western Athabasca Basin. The company’s 5,004.5 meter winter 2022 exploration program was completed in March 2022. According to a news release, 420 samples were collected and sent to the Saskatchewan Research Council Geoanalytical Laboratory at Saskatoon, Saskatchewan for analysis.

The company’s second project, Hatchet Lake, is a 13,711 hectare uranium exploration project adjacent to the Athabasca Basin. The project is located in a highly prospective structural corridor that hosts the majority of known high-grade uranium deposits and all operating uranium mines in Canada.

As for the uranium industry as a whole, Klenman explained the value of seeing the market “from a macro perspective.” He acknowledged: “Retracement is no fun. I know a lot of people, myself included, my uranium holdings are down. But look ahead – try not to think day to day, but rather the bigger picture that we’re going to be involved in 18 months from now.

Klenman continued, “We are seeing people buying the oversupply, the growing demand in China and also in the United States. The time for uranium is coming back – and people have been talking about it for a long time. So we know it exists; we know that supply has to be found to meet the growing demand in the nuclear space. And as an explorer, that’s the main reason we exist, to bolster that supply.

Looking ahead, Klenman said: “We are awaiting results from our recent drilling program at East Preston. The next drilling season, which is coming very quickly – I mean it’s May already – we will be drilling both at East Preston and at our Hatchet Lake project, in addition to following the significant results we are seeing at Preston East . Things are looking up and we’re going to be very, very active for the foreseeable future.

Watch the full interview with Agincourt Energy CEO Alex Klenman above.

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