Forum Energy Metals (TSX.V: FMC) (OTCQB: FDCFF) took its next big step on Thursday as it started trading on the US market, giving more investors access to its considerable potential. As an explorer in the world’s most valuable uranium real estate, the company is well placed to benefit from rising prices.

Already listed in Canada, Forum has now on the OTCQB, giving US investors much more efficient access to its diverse and exciting projects. The firm highlighted the OTCQB’s power to “build shareholder value for companies”, helping Forum boost its liquidity and reach the fair valuation it deserves.

By trading on the OTCQB, the company can access the enormous network of data distributors and investors in the US and get the word out to them as quickly as possible. Given that its three 100% owned energy metal projects are set to be drilled in 2021, this looks like the perfect time to come aboard. Forum’s shares will still trade on the TSX Venture Exchange.

President and chief executive Rick Mazur said: “Our listing on the OTCQB is an important step for the company to expand global awareness of Forum’s exploration activities and provides US investors with a platform to participate in the company’s success.”

Well positioned in Uranium

Right now, Forum is looking for high-grade deposits in Saskatchewan’s Athabasca Basin, “the most valuable uranium real estate in the world”, containing rich and high-grade mines. According to the firm, Saskatchewan supplies more than a fifth of all annual uranium mine production.

Forum’s properties can be found at or near the edge of the Athabasca Basin boundary so it can look for near-surface uranium mineralisation. All properties were chosen for their proximity to known mineralization deposits or occurrences.

In November 2019, Orano Canada signed a $6 million option agreement to explore Forum’s Fir Island uranium property, where it has already completed a resistivity survey and a six-hole diamond drill program. More drilling is planned for 2021.

Uranium took a beating following the 2011 Fukushima disaster, but as newer studies find ever-worse consequences of global warming - like extreme rainfall and the Amazon beginning to actually – nuclear energy is looking like it could be necessary to stop complete disaster.

Nuclear power is also an important part of meeting the Paris Agreement’s goal to limit the global temperature rise to below 2 degrees Celsius.

This reality, combined with lower production over for the past few years has created an impressive bull market in uranium, with the commodity price now 16% higher at $28.35 compared to only $24.50 at the start of 2020. At the start of 2011, before Fukushima, it was trading at $77.00.

Not just uranium

Forum isn’t only looking for uranium, either. It also has a $30 million agreement with Rio Tinto (LON: RIO) (ASX: RIO) for exploring the Janice Lake sedimentary copper property in north-central Saskatchewan.

Rio Tinto has a four-year option to buy a 51% interest in Janice Lake by spending $10 million, and can earn another 29% interest by spending another $20 years over three years, giving it a total 80% stake.

So far, Rio Tinto has completed the first phase of drilling at Janice Lake, which confirmed and extended copper mineralisation at the Jansem and Janice targets. A major diamond drill programme is planned for winter 2021 at Janice Lake.

Forum also has a 100%-owned palladium exploration project named Love Lake. The project is located around 60 km northeast of Janice Lake. Previous grab samples from a trench in the Lake area returned 0.33% copper, 1.33% nickel, 2,735 parts per billion (“ppb”) platinum, 2,685 ppb palladium and 70 ppb gold. Another found 0.43% Cu, 0.23% Ni, 3,580 ppb platinum, 4,275 ppb palladium and 200 ppb gold.

On Thursday, Forum highlighted that it has upped its budget for drilling at Love Lake. The firm is also planning exploration for its Wollaston and Northwest Athabasca joint venture uranium projects.

In this same release, Forum said its non-brokered private placement had closed, raising $500,000. The money will be used to incur qualifying expenses for mineral exploration projects in Saskatchewan.

With so much planned, Forum’s 2021 contains strong promise. Given excellent uranium market conditions and the firm’s diverse interests, everything is in place for a bright future.

Author: Anna Farley

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