ATHA Energy (TSXV:SASK) - RIB North Breakthrough Confirms Continuity, Q4 Catalysts Underway

Troy Boisjoli (0:00)

Troy Boisjoli, CEO of ATHA Energy Corp. We're a large scale uranium exploration company focused in the best uranium jurisdictions in Canada.

SPEAKER_2 (0:09)

Troy, good to see you here. Welcome to London.

Troy Boisjoli (0:11)

Yeah, thanks for having me.

SPEAKER_2 (0:12)

You brought the sun.

Troy Boisjoli (0:13)

Yes.

SPEAKER_2 (0:14)

Thank you for that.

Look, it's WNA week here in London. Obviously, you got a few meetings there, and a few corporate meetings, I'm sure, as well as well as talking to them as shareholders. So let's start with WNA. I mean, good turnout.

Troy Boisjoli (0:29)

Yeah, great turnout. WNA, one time a year, when the whole of the industry gets together, right from exploration companies like ourselves, right through to the energy producers, uranium producers, et cetera, cross-section of the entire space is here.

SPEAKER_2 (0:49)

Obviously, with the corporate conversations and the conversations at WNA, what is the subject that is keeping people sort of leaning in towards this space at the moment? Well, they're trying to understand.

Troy Boisjoli (1:01)

Yeah, you know, I think it's the demand side, right? And it's how that's solidifying.

SPEAKER_2 (1:09)

Yeah.

Troy Boisjoli (1:09)

You know, you go back maybe four or five years, lots of talk about emerging demand, and then you get more tactical, more structural on that.

Starting to see conversations and dialogue around how do these things get financed? How do they get built? How do they progress? How do we attack supply chains? Not just fuel supply chains, but things like nuclear component supply chains to be able to build reactors, etc. So it's getting more granular, it's getting more detailed, it's getting more real. So it's exciting.

SPEAKER_2 (1:39)

So, okay, questions from the demand side and about the demand side. And that's also clearly very quickly affects that there are people trying to understand what the supply side looks like, because that's the kind of missing piece in all of this, you know. There's a lot of chat about what could be, maybe should be.

Not a lot of actually pounds being produced at the moment. How do people view that?

Troy Boisjoli (2:02)

Yeah, it's interesting because, you know, being from the supply side, my entire career, and knowing that side of the market pretty well, we look at the supply side as, you know, if it's not an existential risk, maybe nearing it towards the end of next decade, we just don't really understand where the pounds are going to come from when you look at discovery rates, reproduction, et cetera.

Broader realization, though, I think we're still in an environment where the vast majority of the buy side of this market is used to having pounds at their disposal when they need them, right? And, you know, you look back through history, and that's always been the case. We're entering into a market where that dynamic is changing substantially, and I guess has evidence by the term price and the spot price right now strengthening and moving. I think some people are starting to realize that, but I don't think it's a broad realization across the board.

SPEAKER_2 (3:03)

Okay. Look, we could talk micro all day with you, because it's most fascinating, it's confusing and equal measure, I think.

I want to talk to you today about where you guys are going and how you're getting there. We're sort of press race today. We'll start there, but I think what people perhaps would like to understand from you is like, how do you play this market at this time, and into that demand supply conversation that you've talked about. So let's start with the release today. Got some drill results. What did that tell you? What should it tell us?

Troy Boisjoli (3:37)

Yeah. Continued execution exceeding our expectations at Angilak at RIB. But maybe as we get into it, I'll back out for a second. Yeah. And how do we play, how do we participate in this market? I think that's a really important question. And you look back at the founding of ATHA, we're only three years old. We had a very, very constructive view on where this Uranium market was going. We're like, well, how do you participate in a market that we haven't seen before? So we had a very clear objective and a very simple objective. That was to maximize our exposure to the best Uranium jurisdictions in Canada.

Over a very short period of time, we were able to do that. We started off with three and a half million acres of exploration property exclusively in the Athabasca Basin. Through organic growth and merger and acquisition, we grew to over seven million acres of exploration property across the Athabasca Basin, the Thelon Basin, which is the Uranium Basin in Northern Canada, the Angikuni Basin, which is where our Angilak Project is at, and our Central Mineral Belt Project in Labrador, which surrounds Paladin's project in Labrador. So we were able to do that very early on.