What Western Uranium & Vanadium does

Western Uranium & Vanadium Corp. is a Toronto-domiciled, CSE-listed (CSE: WUC; OTCQX: WSTRF) conventional uranium and vanadium mining company that was formed in 2014 via a reverse takeover of Homeland Uranium Inc. to acquire uranium assets at depressed post-Fukushima valuations. The company operates a portfolio of U.S. Western assets — the Sunday Mine Complex (Colorado, the only fully permitted conventional U/vanadium mine in production), San Rafael Uranium Project (Utah), Hansen/Taylor Ranch (13,500 acres in Colorado), Sage Mine (Uravan Mineral Belt, Colorado), and the newly acquired Uranium Ridge Project (Colorado, October 2025).

Its production stack rests on patented Ablation Mining Technology (with prior NRC advisory opinion and CDPHE regulatory approval) and proprietary Kinetic Separation Technology deployed at the Maverick and Pinon Ridge processing plants. The company is developing the Mustang Minerals Processing Facility in Montrose County, Colorado, with the explicit goal of bringing ore-to-yellowcake processing in-house and reducing milling costs.

The business model is direct B2B sales of uranium (yellowcake) to U.S. nuclear utilities under supply contracts and vanadium for industrial applications (steel alloys, vanadium redox flow batteries). A 2015 utility supply agreement was fulfilled with the final delivery in 2022, and management is pursuing additional utility contracts against a rising uranium-price backdrop. Capital is raised through repeat private placements, brokered LIFE financings (most recently a CAD $5.9M upsized round in October 2025 and a CAD $5M bought-deal in June 2025), and warrant exercises, with 71.9M shares outstanding and CAD $43.9M market capitalization as of late 2025.

Name

Western Uranium & Vanadium

Legal name

Western Uranium & Vanadium Corporation

Website

https://western-uranium.com

Company type

Public

Founded year

2014

Operating status

Operating

Headcount range

11–50 employees

Short description

Western Uranium & Vanadium Corp. is a CSE-listed U.S. conventional uranium and vanadium miner operating the fully permitted Sunday Mine Complex in Colorado and developing the Mustang processing facility, selling yellowcake to U.S. nuclear utilities under direct supply contracts.

Ownership category

akta.pro rank

Product category

Uranium and Vanadium Mining

NAICS

Other Metal Ore Mining (21229)

SIC

Metal Mining (1000)

akta.pro primary industry

Uranium Mining & Milling (Yellowcake/U3O8 Production) (EUAKACAB)

akta.pro secondary industry

Uranium Exploration & Resource Development (EUAKACAA)

Keywords

• Uranium mining
• Vanadium mining
• Mineral processing
• Nuclear fuel supply
• Conventional mining operations

Headquarters

HQ city

Toronto

HQ country

Canada

HQ region

North America

Offices3 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Operations, Personnel, Infrastructure, Supply Chain, Technology or R&D

Revenue model

1. Uranium Sales: Sale of uranium products including yellowcake to nuclear utilities and power companies. The company has an existing supply agreement with a U.S. utility for uranium delivery.
2. Vanadium Sales: Sale of vanadium products for industrial applications including steel production and emerging technologies like vanadium redox flow batteries.
3. Financing Activities: The company raises capital through warrant exercises, private placements, and brokered LIFE financing to fund mining projects and operations.

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels5 records

Core offering

Western Uranium & Vanadium is a conventional mining company that explores, develops, and produces uranium and vanadium from a portfolio of permitted mines and projects in Colorado and Utah, including the operating Sunday Mine Complex. Ore is processed through owned milling infrastructure (Maverick/Pinon Ridge plants and the in-development Mustang Minerals Processing Facility) using the company's proprietary Kinetic Separation Technology and patented Ablation Mining Technology, with output (yellowcake and vanadium products) sold directly to U.S. nuclear utilities and industrial buyers.

Product overview

Western Uranium & Vanadium Corp. is a U.S.-based mining company operating a vertically integrated business model focused on exploration, development, and production of high-grade uranium and vanadium resources. The company's portfolio includes the Sunday Mine Complex in Colorado (the exclusive operational hub for conventional uranium and vanadium mining in the U.S.), the San Rafael Uranium Project in Utah, the Sage Mine and Hansen/Taylor Ranch in Colorado, and the newly acquired Uranium Ridge Project. The company is developing the Mustang Minerals Processing Facility in Colorado and operates the Pinon Ridge Mill, both utilizing proprietary Kinetic Separation Technology to process ore and produce yellowcake. The Sunday Mine Complex serves as the primary mining operation, with ore processed through the company's own milling infrastructure to unlock full value from mining operations.

Differentiator

Problem solved

Functional benefit

Brands

• Sunday Mine Complex: The exclusive operational hub for conventional uranium and vanadium mining in the United States. Fully permitted and geared for full-scale production.
• Mustang Minerals Processing Facility
• Uranium Ridge Project
• Kinetic Separation Technology

Products and services

• Sunday Mine Complex The exclusive operational hub for conventional uranium and vanadium mining in the United States. Fully permitted and geared for full-scale production; strategically stockpiling high-grade ore underground for delivery to the Maverick Processing Plant, with an ongoing underground lateral drilling program to expand resources.
• San Rafael Uranium Project Uranium mine project in Emery County, Utah, covering a single contiguous claim block of 146 unpatented federal lode mining claims. The core Deep Gold deposit has a Historic Indicated Mineral Resource (CIM Definition) of 479,050 tons @ 0.25% U3O8 (2,415,300 lbs U3O8) and a Historic Inferred Mineral Resource of 92,350 tonnes @ 0.32% U3O8 (587,800 lbs U3O8); historic vanadium resource also exists at the project.
• Hansen/Taylor Ranch Uranium Project Uranium project spanning over 13,500 acres in the Tallahassee Creek District of Colorado, about 150 kilometers southwest of Denver, representing a significant potential future source of uranium feedstock for the Mustang Minerals Processing Facility.
• Sage Mine Mine located in the renowned Uravan Mineral Belt of Colorado, containing substantial reserves of uranium and vanadium essential for nuclear energy and industrial applications such as alloy production and emerging technologies like vanadium redox flow batteries; being evaluated for rehab options for near-term production.
• Mustang Minerals Processing Facility Premier domestic uranium and vanadium processing hub strategically located in Montrose County, Colorado. Integral to the company's vertically integrated business model, enabling ore processing and yellowcake production to be brought in-house.
• Uranium Ridge Project Newly acquired mineral lode claims in Colorado featuring a uranium-vanadium deposit and surrounding exploration potential, enhancing the company's resource portfolio and securing nearby resources to reduce logistics costs for the Mustang Mineral Processing Plant.
• Kinetic Separation Technology Operations Proprietary ore-processing operations at the Pinon Ridge and Maverick Mineral Processing Plants using Kinetic Separation Technology, which significantly slashes milling costs and ensures a competitive edge in uranium and vanadium production by reducing processing expenses.

Quantifiable outcome

• Significantly reduced milling costs through Kinetic Separation Technology
• +2 more outcomes

Named customers2 records

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Two partnerships are on record, tiered minor.

• Red Cloud Financial ServicesminorGTM or Marketing Partner · 25 February 2026Red Cloud hosted the Pre-PDAC 2026 Mining Showcase where Vice President Grant Glasier presented. Western participated in the uranium track as part of their investor outreach.
• Energy Fuels Inc.minorStrategic or Co-development PartnerWestern Uranium & Vanadium was formed through acquisition of uranium assets from Energy Fuels Inc., including several high-grade mining projects in the western United States. The company emerged to capitalize on potential resurgence in the uranium market.

Scale indicators8 records

Recent moves9 records

Expansion highlights5 records

Direct peers

• Energy Fuels Inc. Largest U.S. uranium producer and the company from which Western acquired key uranium/vanadium mining assets (including the Sunday Mine Complex). Operates conventional uranium and vanadium mines in the same Colorado/Utah districts and runs the White Mesa Mill, making it the most direct comparable for Western's vertically integrated conventional mining model.
• Uranium Energy Corp: U.S.-focused uranium producer operating ISR (in-situ recovery) projects in Wyoming, New Mexico, and Texas. Competes with Western for U.S. utility uranium supply contracts and represents the leading U.S. uranium pure-play by market cap, providing a benchmark for U.S. domestic supply positioning.
• Ur-Energy Inc. U.S./Canadian uranium producer with operating ISR mine at Lost Creek in Wyoming and a processing facility at Shirley Basin. Closely comparable in scale and stage to Western, with similar exposure to U.S. utility offtake and uranium spot price dynamics.
• enCore Energy Corp. U.S. uranium ISR producer with multiple operating and permitted uranium projects in the western U.S. Competes with Western for U.S. utility contracts and is of comparable size, making it a relevant benchmark for U.S. junior uranium producers.
• Peninsula Energy Limited: Uranium producer operating the Lance ISR Project in Wyoming. Provides another comparison point for U.S. uranium juniors ramping production toward utility supply contracts, with similar regulatory and commodity dynamics.
• Denison Mines Corp. Canadian uranium exploration and development company focused on the Athabasca Basin (ISR at Wheeler River). While focused on a different geology, Denison is a North American uranium pure-play comparable in scale and stage to Western for uranium developer economics.

Emerging players

• IsoEnergy Ltd. Canadian uranium exploration and development company with assets in the Athabasca Basin. While earlier stage than Western and geologically distinct, it is a relevant peer for North American uranium developer valuations and capital raising dynamics.
• NexGen Energy Ltd. Canadian uranium developer with the Arrow deposit in the Athabasca Basin. While larger and at a more advanced development stage, NexGen is a peer for North American uranium developer valuations and provides a benchmark for project development economics.

Broad incumbents

• Cameco Corporation: World's largest publicly traded uranium producer, operating tier-one assets (Cigar Lake, McArthur River) and providing conversion/enrichment services through Westinghouse. While Western cannot compete on scale, Cameco sets the benchmark for U.S. utility uranium pricing and contract structures relevant to Western's offtake strategy.

Regional players

• Boss Energy Limited: Australian uranium producer restarted the Honeymoon ISR mine. While geographically distinct, Boss is a useful comparable for ISR/ramp-up uranium producer economics and uranium price sensitivity in the current upcycle.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/WesternUranium

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Funding overview

Funding rounds6 records

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Western Uranium & Vanadium