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Increased investment, growing demand: Benchmark expects a supply gap of 18 percent of demand by 2027. Premier American Uranium and Uranium Royalty are pursuing different approaches.
Uranium Market Faces a Growing Supply Shortfall
Herisau, 05.10.2026 (PresseBox) - Advertisement ? This article is distributed on behalf of Premier American Uranium Inc. and Uranium Royalty Corp. SRC swiss resource capital AG has paid investor relations consulting agreements with both companies. Creator/Publisher: SRC swiss resource capital AG · Author: Ingrid Heinritzi · Scheduled initial publication: October 1, 2026, 3:30 p.m. Zurich/Berlin · Editorial status: September 30, 2026.
Increased investment is driving momentum in the uranium market: According to the NEA and IAEA, more than $1.78 billion flowed into exploration and mine development in 2023/2024, approximately 46 percent more than in 2021/2022. Aggregate uranium production rose by about 20 percent compared to the same period. Nevertheless, Benchmark Mineral Intelligence expects a slight deficit in 2026 and a gap between mine supply and demand of 18 percent of demand in 2027. This should be distinguished from additional supply from inventories and other secondary sources.
New uranium mines require long lead times. At the same time, rising electricity demand and data centers are fueling interest in nuclear energy. According to the NEA and IAEA, the reactor fleet in operation as of January 1, 2025, required approximately 64,500 metric tons of uranium annually. For 2050, expansion scenarios project annual demand of 84,800 to 143,900 metric tons. However, sufficient resources alone cannot guarantee supply: investments, permits, and the timely implementation of new projects are crucial.
According to Benchmark, China has approximately 68 gigawatts of electrical nuclear power capacity (GWe); an additional 42 GWe are under construction, and 26 GWe are planned. Small modular reactors (SMRs) could create additional demand. Kazakhstan accounted for about 39 percent of global mine production in 2024; sulfuric acid shortages there could limit growth. In Canada, technical problems at the sulfuric acid plant at McClean Lake temporarily halted production at Cigar Lake in July 2026. The mine has been back in operation since July 14.
Premier American Uranium - https://www.commodity-tv.com/ondemand/companies/profil/premier-american-uranium-inc/ - is developing uranium projects in five major U.S. uranium districts. According to a press release dated July 13, 2026, the drilling program at the flagship Cebolleta project in New Mexico has been completed. The samples collected will be used for metallurgical testing aimed at optimizing uranium recovery through heap leaching and supporting future feasibility studies. This year?s exploration program at Kaycee in Wyoming is underway. Cyclone is also one of the core projects. Progress in testing and exploration should advance project development and make the company more attractive.
Uranium Royalty - https://www.commodity-tv.com/ondemand/companies/profil/uranium-royalty-corp/ - describes itself as the only royalty company focused exclusively on uranium. Its business model encompasses production royalty rights, streaming rights, financing, equity interests, and physical uranium. The portfolio includes royalty rights to a portion of the production or profits from McArthur River and Cigar Lake. On July 27, 2026, Uranium Royalty and approximately 92 percent of the relevant Sweetwater companies were consolidated under a new U.S. parent company. It is also named Uranium Royalty Corp.; ?New URC? is a distinguishing name. Trona/soda ash royalties, as well as land and mineral rights, diversify the business. According to the company, the group holds the largest land position in Wyoming. In the first quarter of fiscal year 2027?the three months ending July 31, 2026?it posted a record net profit of $16.3 million. Conclusion: Metallurgical testing and exploration at Premier, as well as the development of the expanded royalty portfolio, remain key indicators of progress; permits, financing, and uranium prices also help determine the opportunities.
Current company information and press releases from Uranium Royalty (- https://www.resource-capital.ch/de/unternehmen/uranium-royalty-corp/ -) and Premier American Uranium (- https://www.resource-capital.ch/de/unternehmen/premier-american-uranium-corp/ -).
Further industry information is available in the Uranium Report 2026/03:
https://www.resource-capital.ch/de/reports/ansicht/uran-report-2026-03/.
Note: The following market assessments are expressions of opinion. Statements regarding third parties are based?where indicated?on publicly available sources; where no source is cited, they represent subjective assessments rather than verified factual claims.
Swiss Resource Capital AG at a glance:
Our website: https://www.resource-capital.ch/de/
Interesting and exclusive videos and interviews: https://www.rohstoff-tv.com/, https://www.commodity-tv.com/, and https://www.youtube.com/@SwissResourceCapitalAG
All free commodities reports: https://www.rohstoff-reports.com/
Registration for our roadshows: https://www.european-roadshows.com/de/
SRC Mining Special Situations Certificate: http://www.wikifolio.com/de/ch/w/wf0srcplus
Sources and editorial basis: NEA/IAEA, ?Uranium 2026,? press release dated September 14, 2026; Benchmark Mineral Intelligence, market analysis dated September 15, 2026; World Nuclear Association, Uranium Production 2024; Cameco, operational announcements dated July 1 and 14, 2026. Company sources: Premier American Uranium, Cebolleta press release dated July 13, 2026, and Kaycee project page; Uranium Royalty, transaction announcement dated July 27, 2026, quarterly report dated September 14, 2026, and royalty project pages.
NEA/IAEA · Benchmark · Cameco · Premier American Uranium · Uranium Royalty
This presentation is based on original public sources and their editorial cross-checking. SRC has not conducted its own resource estimate, drill data review, metallurgical analysis, or independent company valuation. Company information and forecasts have not been verified through SRC?s own technical or financial reviews.
Use of AI-powered systems: AI-powered systems were used as tools for research, analysis, structuring, and language editing. Editorial responsibility remains with SRC. AI does not replace independent technical, financial, or legal review. A final human editorial review is required prior to publication.
Promotional Nature and Compensation
This article is distributed on behalf of Premier American Uranium Inc. and Uranium Royalty Corp. SRC maintains fee-based, non-performance-based investor relations advisory agreements with both companies. This article is a paid marketing and communications communication and not an independent financial analysis. These business relationships constitute conflicts of interest and may influence the selection, weighting, and tone of the information presented.
Holdings and Other Conflicts of Interest
According to the information confirmed for this article, as of the time of publication, neither SRC nor the author, Ingrid Heinritzi, holds any shares, options, warrants, long or short certificates, other derivatives, or other holdings in Premier American Uranium Inc. or Uranium Royalty Corp. Likewise, neither SRC nor the author holds any other long or short positions in financial instruments related to either of these companies. Neither Premier American Uranium Inc. nor Uranium Royalty Corp. holds a five percent or greater stake in SRC?s share capital. The conflicts of interest arising from the paid business relationships exist independently of any ownership of securities. All position disclosures refer to the date of publication. Statutory trading restrictions and disclosure requirements remain unaffected.
Pre-publication Review by the Companies
Neither Premier American Uranium Inc. nor Uranium Royalty Corp. had the opportunity to review this article in advance.
Sources and Scope of Review
This report is based on the publications listed in the article?s bibliography and their editorial analysis. Company information, external studies, forecasts, and editorial assessments should be understood in light of their respective sources, reference dates, and underlying assumptions.
SRC has not conducted its own resource estimate, drill data review, metallurgical analysis, or independent company valuation. An editorial review of sources is not a technical review by a qualified professional, nor is it an audit. Legal due diligence and disclosure obligations are not limited by this description of the scope of the review.
Exploration work, drill results, and metallurgical tests do not, on their own, prove the existence of economically recoverable reserves, nor do they prove the economic viability, obtainability of permits, or subsequent commencement of production for a project. To the extent that technical information is subject to legal requirements, particularly under NI 43-101, this notice does not replace those requirements.
Forward-Looking Statements and Material Risks
Statements regarding future uranium supply, demand, project development, metallurgical recovery, financing, permits, or business performance contain forecasts or expectations. They are based on information available at the time of the respective source or publication and on the assumptions described. Their occurrence is not guaranteed. Actual results and developments may differ materially.
Premier American Uranium faces, in particular, exploration, metallurgical, permitting, financing, dilution, and implementation risks. Ongoing tests do not guarantee improved recovery rates or economically viable production.
At Uranium Royalty, risks arise in particular from the development and operation of the underlying projects, the performance of operators and contractual partners, the scope and enforceability of the respective rights, and the integration of acquired assets. Royalty rights relate to the scope specified in each contract and do not constitute an unrestricted claim to the entire production or all profits of a mine.
In addition, there are, in particular, commodity price, market, liquidity, currency, political, and regulatory risks. An expected supply shortage in the uranium market does not guarantee rising uranium prices or rising stock prices. A complete loss of the capital invested is possible.
There are no plans to routinely update this article. Statutory obligations regarding corrections, disclosures, and updates remain unaffected.
No Individual Investment Advice
This article does not take into account the personal investment objectives, financial circumstances, knowledge, or risk tolerance of individual readers. It does not replace advice tailored to personal circumstances and does not constitute an offer to enter into a securities transaction.
The designation as advertising and the statement regarding the absence of individual investment advice do not preclude a legal classification as an investment recommendation or investment strategy recommendation. To the extent applicable, the requirements of Article 20 of the Market Abuse Regulation and Delegated Regulation (EU) 2016/958, in particular, remain unaffected. No claim is made that the article or the securities discussed have been reviewed, approved, or recommended by BaFin, the BCSC, or any other regulatory authority.
Use of AI-Based Systems
AI-supported systems were used as tools for research, analysis, structuring, and linguistic processing. Responsibility for the selection, review, and publication of the content remains with SRC. The use of such systems does not replace professional review and does not constitute a guarantee of the accuracy of the results.
Warranty and Liability
The information was compiled to the best of our knowledge and with journalistic diligence. No guarantee is provided as to its accuracy, completeness, or timeliness. Statutory duties of care and mandatory liability claims remain unaffected.
To the extent that a limitation of liability is legally permissible and validly agreed upon, the following applies: SRC bears unlimited liability in cases of willful misconduct and gross negligence, in cases of culpable injury to life, limb, or health, and based on mandatory statutory liability provisions.
In the event of a breach of material contractual obligations due to slight negligence, liability is limited to the foreseeable damage typical for this type of contract. Material contractual obligations are those whose fulfillment is essential for the proper performance of a contract and on whose compliance the contractual partner may regularly rely. Otherwise, liability for slight negligence is excluded to the extent permitted by law.
These provisions apply mutatis mutandis in favor of SRC?s legal representatives and vicarious agents; the aforementioned liability exclusions also apply to their conduct. Public law obligations and responsibilities are not restricted by these liability provisions.
External Links and Redistribution
The operators of external websites are generally responsible for their content. We do not continuously monitor all linked content. Statutory obligations to review and take action, particularly upon knowledge of specific legal violations, remain unaffected.
© 2026 SRC swiss resource capital AG. Statutory rights of use remain unaffected. When redistributing content, advertising labels, source attributions, and relevant interest and risk disclosures must not be removed or abbreviated in a misleading manner.
Increased investment is driving momentum in the uranium market: According to the NEA and IAEA, more than $1.78 billion flowed into exploration and mine development in 2023/2024, approximately 46 percent more than in 2021/2022. Aggregate uranium production rose by about 20 percent compared to the same period. Nevertheless, Benchmark Mineral Intelligence expects a slight deficit in 2026 and a gap between mine supply and demand of 18 percent of demand in 2027. This should be distinguished from additional supply from inventories and other secondary sources.
New uranium mines require long lead times. At the same time, rising electricity demand and data centers are fueling interest in nuclear energy. According to the NEA and IAEA, the reactor fleet in operation as of January 1, 2025, required approximately 64,500 metric tons of uranium annually. For 2050, expansion scenarios project annual demand of 84,800 to 143,900 metric tons. However, sufficient resources alone cannot guarantee supply: investments, permits, and the timely implementation of new projects are crucial.
According to Benchmark, China has approximately 68 gigawatts of electrical nuclear power capacity (GWe); an additional 42 GWe are under construction, and 26 GWe are planned. Small modular reactors (SMRs) could create additional demand. Kazakhstan accounted for about 39 percent of global mine production in 2024; sulfuric acid shortages there could limit growth. In Canada, technical problems at the sulfuric acid plant at McClean Lake temporarily halted production at Cigar Lake in July 2026. The mine has been back in operation since July 14.
Premier American Uranium - https://www.commodity-tv.com/ondemand/companies/profil/premier-american-uranium-inc/ - is developing uranium projects in five major U.S. uranium districts. According to a press release dated July 13, 2026, the drilling program at the flagship Cebolleta project in New Mexico has been completed. The samples collected will be used for metallurgical testing aimed at optimizing uranium recovery through heap leaching and supporting future feasibility studies. This year?s exploration program at Kaycee in Wyoming is underway. Cyclone is also one of the core projects. Progress in testing and exploration should advance project development and make the company more attractive.
Uranium Royalty - https://www.commodity-tv.com/ondemand/companies/profil/uranium-royalty-corp/ - describes itself as the only royalty company focused exclusively on uranium. Its business model encompasses production royalty rights, streaming rights, financing, equity interests, and physical uranium. The portfolio includes royalty rights to a portion of the production or profits from McArthur River and Cigar Lake. On July 27, 2026, Uranium Royalty and approximately 92 percent of the relevant Sweetwater companies were consolidated under a new U.S. parent company. It is also named Uranium Royalty Corp.; ?New URC? is a distinguishing name. Trona/soda ash royalties, as well as land and mineral rights, diversify the business. According to the company, the group holds the largest land position in Wyoming. In the first quarter of fiscal year 2027?the three months ending July 31, 2026?it posted a record net profit of $16.3 million. Conclusion: Metallurgical testing and exploration at Premier, as well as the development of the expanded royalty portfolio, remain key indicators of progress; permits, financing, and uranium prices also help determine the opportunities.
Current company information and press releases from Uranium Royalty (- https://www.resource-capital.ch/de/unternehmen/uranium-royalty-corp/ -) and Premier American Uranium (- https://www.resource-capital.ch/de/unternehmen/premier-american-uranium-corp/ -).
Further industry information is available in the Uranium Report 2026/03:
https://www.resource-capital.ch/de/reports/ansicht/uran-report-2026-03/.
Note: The following market assessments are expressions of opinion. Statements regarding third parties are based?where indicated?on publicly available sources; where no source is cited, they represent subjective assessments rather than verified factual claims.
Swiss Resource Capital AG at a glance:
Our website: https://www.resource-capital.ch/de/
Interesting and exclusive videos and interviews: https://www.rohstoff-tv.com/, https://www.commodity-tv.com/, and https://www.youtube.com/@SwissResourceCapitalAG
All free commodities reports: https://www.rohstoff-reports.com/
Registration for our roadshows: https://www.european-roadshows.com/de/
SRC Mining Special Situations Certificate: http://www.wikifolio.com/de/ch/w/wf0srcplus
Sources and editorial basis: NEA/IAEA, ?Uranium 2026,? press release dated September 14, 2026; Benchmark Mineral Intelligence, market analysis dated September 15, 2026; World Nuclear Association, Uranium Production 2024; Cameco, operational announcements dated July 1 and 14, 2026. Company sources: Premier American Uranium, Cebolleta press release dated July 13, 2026, and Kaycee project page; Uranium Royalty, transaction announcement dated July 27, 2026, quarterly report dated September 14, 2026, and royalty project pages.
NEA/IAEA · Benchmark · Cameco · Premier American Uranium · Uranium Royalty
This presentation is based on original public sources and their editorial cross-checking. SRC has not conducted its own resource estimate, drill data review, metallurgical analysis, or independent company valuation. Company information and forecasts have not been verified through SRC?s own technical or financial reviews.
Use of AI-powered systems: AI-powered systems were used as tools for research, analysis, structuring, and language editing. Editorial responsibility remains with SRC. AI does not replace independent technical, financial, or legal review. A final human editorial review is required prior to publication.
Promotional Nature and Compensation
This article is distributed on behalf of Premier American Uranium Inc. and Uranium Royalty Corp. SRC maintains fee-based, non-performance-based investor relations advisory agreements with both companies. This article is a paid marketing and communications communication and not an independent financial analysis. These business relationships constitute conflicts of interest and may influence the selection, weighting, and tone of the information presented.
Holdings and Other Conflicts of Interest
According to the information confirmed for this article, as of the time of publication, neither SRC nor the author, Ingrid Heinritzi, holds any shares, options, warrants, long or short certificates, other derivatives, or other holdings in Premier American Uranium Inc. or Uranium Royalty Corp. Likewise, neither SRC nor the author holds any other long or short positions in financial instruments related to either of these companies. Neither Premier American Uranium Inc. nor Uranium Royalty Corp. holds a five percent or greater stake in SRC?s share capital. The conflicts of interest arising from the paid business relationships exist independently of any ownership of securities. All position disclosures refer to the date of publication. Statutory trading restrictions and disclosure requirements remain unaffected.
Pre-publication Review by the Companies
Neither Premier American Uranium Inc. nor Uranium Royalty Corp. had the opportunity to review this article in advance.
Sources and Scope of Review
This report is based on the publications listed in the article?s bibliography and their editorial analysis. Company information, external studies, forecasts, and editorial assessments should be understood in light of their respective sources, reference dates, and underlying assumptions.
SRC has not conducted its own resource estimate, drill data review, metallurgical analysis, or independent company valuation. An editorial review of sources is not a technical review by a qualified professional, nor is it an audit. Legal due diligence and disclosure obligations are not limited by this description of the scope of the review.
Exploration work, drill results, and metallurgical tests do not, on their own, prove the existence of economically recoverable reserves, nor do they prove the economic viability, obtainability of permits, or subsequent commencement of production for a project. To the extent that technical information is subject to legal requirements, particularly under NI 43-101, this notice does not replace those requirements.
Forward-Looking Statements and Material Risks
Statements regarding future uranium supply, demand, project development, metallurgical recovery, financing, permits, or business performance contain forecasts or expectations. They are based on information available at the time of the respective source or publication and on the assumptions described. Their occurrence is not guaranteed. Actual results and developments may differ materially.
Premier American Uranium faces, in particular, exploration, metallurgical, permitting, financing, dilution, and implementation risks. Ongoing tests do not guarantee improved recovery rates or economically viable production.
At Uranium Royalty, risks arise in particular from the development and operation of the underlying projects, the performance of operators and contractual partners, the scope and enforceability of the respective rights, and the integration of acquired assets. Royalty rights relate to the scope specified in each contract and do not constitute an unrestricted claim to the entire production or all profits of a mine.
In addition, there are, in particular, commodity price, market, liquidity, currency, political, and regulatory risks. An expected supply shortage in the uranium market does not guarantee rising uranium prices or rising stock prices. A complete loss of the capital invested is possible.
There are no plans to routinely update this article. Statutory obligations regarding corrections, disclosures, and updates remain unaffected.
No Individual Investment Advice
This article does not take into account the personal investment objectives, financial circumstances, knowledge, or risk tolerance of individual readers. It does not replace advice tailored to personal circumstances and does not constitute an offer to enter into a securities transaction.
The designation as advertising and the statement regarding the absence of individual investment advice do not preclude a legal classification as an investment recommendation or investment strategy recommendation. To the extent applicable, the requirements of Article 20 of the Market Abuse Regulation and Delegated Regulation (EU) 2016/958, in particular, remain unaffected. No claim is made that the article or the securities discussed have been reviewed, approved, or recommended by BaFin, the BCSC, or any other regulatory authority.
Use of AI-Based Systems
AI-supported systems were used as tools for research, analysis, structuring, and linguistic processing. Responsibility for the selection, review, and publication of the content remains with SRC. The use of such systems does not replace professional review and does not constitute a guarantee of the accuracy of the results.
Warranty and Liability
The information was compiled to the best of our knowledge and with journalistic diligence. No guarantee is provided as to its accuracy, completeness, or timeliness. Statutory duties of care and mandatory liability claims remain unaffected.
To the extent that a limitation of liability is legally permissible and validly agreed upon, the following applies: SRC bears unlimited liability in cases of willful misconduct and gross negligence, in cases of culpable injury to life, limb, or health, and based on mandatory statutory liability provisions.
In the event of a breach of material contractual obligations due to slight negligence, liability is limited to the foreseeable damage typical for this type of contract. Material contractual obligations are those whose fulfillment is essential for the proper performance of a contract and on whose compliance the contractual partner may regularly rely. Otherwise, liability for slight negligence is excluded to the extent permitted by law.
These provisions apply mutatis mutandis in favor of SRC?s legal representatives and vicarious agents; the aforementioned liability exclusions also apply to their conduct. Public law obligations and responsibilities are not restricted by these liability provisions.
External Links and Redistribution
The operators of external websites are generally responsible for their content. We do not continuously monitor all linked content. Statutory obligations to review and take action, particularly upon knowledge of specific legal violations, remain unaffected.
© 2026 SRC swiss resource capital AG. Statutory rights of use remain unaffected. When redistributing content, advertising labels, source attributions, and relevant interest and risk disclosures must not be removed or abbreviated in a misleading manner.