American Uranium

What American Uranium does

American Uranium Limited (ASX: AMU) is a pre-revenue uranium exploration and development company that has been strategically positioned in the United States since 2019 to leverage In-Situ Recovery (ISR) uranium mining for domestic U.S. uranium supply. The company is dual-headquartered with a corporate office in West Perth, Australia and a U.S. operational office in Riverton, Wyoming. Its stated mission is to address U.S. energy security and reduce dependence on foreign uranium imports by supplying U.S. nuclear power utilities with domestically produced uranium concentrate (U3O8).

The company's core technology is ISR mining using alkaline leach lixiviant solutions injected via well systems, with uranium recovered through ion exchange (IX) or solvent extraction (SX) and clean water re-injected post-processing. Its flagship asset is the 100%-owned Lo Herma ISR Uranium Project in Wyoming's Powder River Basin, hosting 9.45 million pounds of eU3O8 with 43% in the Indicated category, located approximately 10 miles from Cameco's Smith Ranch-Highland — the U.S.'s largest permitted ISR uranium production facility. Supporting assets include the Great Divide Basin and Green Mountain projects in Wyoming (combined Inferred resource of 1.66M lbs) and the Henry Mountains conventional uranium/vanadium project in Utah. Combined Wyoming mineral resources total 11.11M lbs U3O8 across approximately 50,000 acres of landholdings.

American Uranium's business model is capital-intensive and pre-revenue, with future revenue contingent on commencing uranium concentrate production. The company currently funds operations through equity capital raises on the ASX, including a A$2.59 million non-renounceable entitlement offer in April 2026. Its go-to-market approach is twofold: (1) direct sales of U3O8 to U.S. nuclear power utilities under long-term contracts and spot sales once production begins, and (2) integration with existing ISR production hubs in the Powder River Basin and Great Divide Basin via a hub-and-spoke production model. The company targets the U.S. nuclear power utility market and regional ISR production hub operators (e.g., Cameco, Ur-Energy) as primary customer segments.

Name

American Uranium

Legal name

American Uranium Limited

Website

https://americanuranium.com.au

Company type

Public

Founded year

2019

Operating status

Operating

Headcount range

1–10 employees

Short description

American Uranium Limited (ASX: AMU) is a pre-revenue uranium exploration and development company developing In-Situ Recovery (ISR) mining projects in Wyoming's Powder River and Great Divide Basins, targeting domestic U3O8 supply for U.S. nuclear power utilities and integration with regional ISR production hubs.

Ownership category

akta.pro rank

Product category

Uranium Mining

NAICS

Support Activities for Metal Mining (213114)

SIC

Metal Mining (1000)

akta.pro primary industry

Uranium Exploration & Resource Development (EUAKACAA)

akta.pro secondary industry

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

Keywords

• Uranium mining
• In-situ recovery
• Mineral exploration
• Uranium development
• ISR mining operations

Headquarters

HQ city

Perth

HQ country

Australia

HQ region

Oceania

Offices2 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Operations, Personnel, Technology or R&D, Infrastructure, Supply Chain, Marketing or Sales, Others

Revenue model

1. Uranium Sales: Pre-revenue uranium development company planning to sell uranium concentrate (U3O8) to nuclear power utilities. Revenue will be generated through long-term contracts and spot sales once production commences at the Lo Herma project.
2. Equity Capital Raising: The company raises capital through equity offerings on the ASX, including placements to institutional investors and non-renounceable entitlement offers to existing shareholders.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels4 records

Core offering

American Uranium is a pre-revenue uranium exploration and development company advancing in-situ recovery (ISR) uranium projects in the United States. The flagship Lo Herma ISR Uranium Project in Wyoming's Powder River Basin hosts 9.45 million pounds of U3O8 (43% Indicated), complemented by assets in the Great Divide Basin, Green Mountain, and Utah's Henry Mountains. The company is preparing to sell uranium concentrate to U.S. nuclear power utilities via direct sales or hub-and-spoke integration with existing ISR producers.

Product overview

American Uranium is a uranium exploration and development company focused on ISR (In-Situ Recovery) mining in Wyoming's Powder River Basin and Great Divide Basin, with additional conventional uranium/vanadium assets in Utah's Henry Mountains. The company's flagship product is the Lo Herma ISR Uranium Project, a 100%-owned development asset containing 9.45 million pounds of U3O8. Supporting assets include the Great Divide Basin and Green Mountain Projects (combined Inferred resource of 1.66 Mlbs), and the Henry Mountains conventional project in Utah. The company's total Wyoming mineral resources stand at 11.11 Mlbs U3O8 across indicated and inferred categories. American Uranium operates via a hub-and-spoke production model within Wyoming's established ISR uranium district.

Differentiator

Problem solved

Functional benefit

Products and services

• Lo Herma ISR Uranium Project American Uranium's flagship ISR (In-Situ Recovery) uranium development project located in Converse County, Powder River Basin, Wyoming. Contains 9.45 million pounds of U3O8 with 43% classified as Indicated resources. The 13,500-acre project sits approximately 10 miles from Cameco's Smith Ranch-Highland, the U.S.'s largest ISR uranium production plant, and is intended for eventual sales of uranium concentrate (U3O8) to U.S. nuclear power utilities.
• Great Divide Basin Project 100%-owned ISR uranium asset in Wyoming's Great Divide Basin uranium district. Holds an Inferred Mineral Resource of 1.66 Mlbs U3O8 with an initial Exploration Target range of 6.10–9.53 Mlbs U3O8. Includes Thor, Teebo, Odin, Loki and Wicket prospects located within a 15-mile radius of Ur-Energy's producing Lost Creek ISR uranium processing plant.
• Green Mountain Project Part of the Great Divide Basin portfolio in Wyoming. Features 12 miles (19km) of anomalous uranium trends interpreted from airborne survey with 6 prominent uranium anomalies identified. Located adjacent to Energy Fuels' 30Mlb Sheep Mountain and Ur-Energy's Lost Soldier deposits. Drill permits in place pending payment of drilling bond.
• Henry Mountains Project Conventional uranium/vanadium project located in Utah's Henry Mountains region. Exploration focused on approximately 5kms of mineralised trend extending between the Rat Nest and Jeffrey claim groups. Part of the prolific Colorado Plateau uranium province which historically produced over 92 million lbs U3O8. Uranium and vanadium mineralisation is generally shallow at 20–30m average depth.

Quantifiable outcome

• 10% resource increase to 9.45M lbs eU3O8 achieved
• +1 more outcomes

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

One partnership is on record.

• PetrotekcoreImplementation/ SI/ Consulting Partner · 19 September 2025Petrotek has been appointed to conduct critical hydrogeological testing at the Lo Herma ISR Uranium Project. The testing includes step-drawdown pumping tests and additional monitor wells to support future mine permitting. This technical work is essential for advancing the project toward development.

Scale indicators9 records

Recent moves8 records

Expansion highlights6 records

Direct peers

• enCore Energy: Canadian/U.S.-focused ISR uranium developer and producer (TSXV:EU) operating the Rosita Central processing plant and Dewey-Burdock project—referenced in AMU's own director Matt Hartmann's prior experience. Closest analog in terms of stage and hub-and-spoke ISR strategy.
• Ur-Energy: NYSE American-listed (URG) ISR uranium producer operating the Lost Creek facility in Wyoming's Great Divide Basin—directly adjacent to American Uranium's Great Divide Basin/Green Mountain portfolio. Identical ISR methodology and same Wyoming regulatory pathway, providing the benchmark hub-and-spoke counterparty for AMU's offtake model.
• Laramide Resources: TSX/ASX-listed (LAM) uranium developer with the Church Rock ISR project in New Mexico and other U.S./Australian assets. Similar stage of ISR uranium development with Australian capital-markets exposure comparable to American Uranium's ASX listing.
• Uranium Energy Corp (UEC): NYSE American-listed (UEC) pure-play ISR uranium developer/producer with multiple U.S. ISR projects in Texas, Wyoming, New Mexico and Arizona. Directly comparable ISR-focused U.S. uranium developer with similar offtake thesis to American Uranium.
• Boss Energy: ASX-listed ISR uranium developer (ASX:BOE) producing from the Alta Mesa/Honeymoon ISR operations in the U.S./Australia. Most directly comparable peer: same ASX listing venue, identical ISR + U.S. strategic uranium supply thesis, and similar pre-production/producing-stage profile to American Uranium.
• Peninsula Energy: ASX-listed (PEN) ISR uranium developer and producer at the Lance Project in Wyoming's Powder River Basin. Closest ASX-listed operating-stage peer producing ISR uranium in the same Powder River Basin as American Uranium's Lo Herma project.

Broad incumbents

• Paladin Energy: ASX-listed (PDN) uranium producer restarting the Langer Heinrich mine in Namibia, with a global uranium portfolio. Comparable as another ASX-listed uranium developer/producer with multi-jurisdictional exposure, though Namibia-focused rather than U.S.-focused.
• Cameco: World's largest publicly traded uranium producer (NYSE:CCJ / TSX:CCO), operating Smith Ranch-Highland—the largest permitted ISR facility in the U.S., located ~10 miles from American Uranium's Lo Herma flagship. Both a peer (ISR uranium) and the most likely hub-and-spoke acquirer/partner for AMU.
• Energy Fuels: NYSE American-listed (UUUU) uranium and rare earth producer with adjacent conventional uranium assets at Sheep Mountain and the Alta Mesa ISR operation in the Powder River/Great Divide basins. Comparable U.S.-focused ISR-plus-conventional uranium portfolio to AMU's Wyoming footprint.

Emerging players

• Denison Mines: TSX-listed (DML) uranium developer advancing the high-grade Wheeler River ISR project in the Athabasca Basin. Comparable uranium developer stage but geographically distinct (Canada vs. U.S.), relevant for benchmarking ISR uranium development economics and timelines.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/asx_amu
• YouTubeyoutube.com/@AmericanUranium
• LinkedInlinkedin.com/company/americanuranium

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Subsidiaries1 record

Funding overview

Funding rounds1 record

Investors1 record

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 American Uranium