Uranium American Resources

What Uranium American Resources does

Uranium American Resources, Inc. is a US-domiciled junior mining company (formerly Tonogold Resources, Inc.) that recently rebranded and pivoted from gold exploration to uranium and vanadium resource development. The company completed the acquisition of JAG Minerals Pty Ltd in March 2026 for US$12.8 million, securing a portfolio of three brownfield uranium and vanadium projects located in Utah, Colorado, and Wyoming, with historic resource estimates totaling approximately 5 million pounds of U3O8 across the portfolio. Key assets include the Stateline Project (located approximately 19 kilometers from Energy Fuels' La Sal Complex, targeting initial production within 24-30 months) and the Sky Project, with US$2.5 million allocated for drilling across these two assets.

The business model is commodity-driven and currently pre-revenue: revenue will be generated through direct sales of uranium and vanadium to US nuclear utilities and energy companies once production commences, priced at prevailing spot market rates (uranium referenced at US$89.25 per pound as of March 2026). The company trades on the OTCBB under the legacy ticker TNGL pending FINRA approval of a new symbol following the rebrand. Corporate operations are run with 1-10 employees from a Woodland Hills, California headquarters. US$2.5 million is earmarked for drilling at Stateline and Sky to upgrade historic resources.

Customer-facing GTM is sales-led, targeting domestic nuclear utilities and energy companies as the primary segment for what is positioned as a domestic US uranium supply source aligned with energy security and clean-energy demand. The company's competitive positioning rests on brownfield asset quality, infrastructure proximity to Energy Fuels' La Sal Complex, diversification across three states, and alignment with favorable uranium market tailwinds. Financing for the JAG acquisition was backed by institutional capital, and prior funding history includes rounds led by Palisades Goldcorp (2020) and RM Capital (2013). No AI/ML capabilities, patents, certifications, or material partnerships are disclosed in the source data.

Name

Uranium American Resources

Legal name

Uranium American Resources, Inc.

Website

https://tonogold.com

Company type

Public

Founded year

1997

Operating status

Operating

Headcount range

1–10 employees

Short description

Uranium American Resources is a US junior mining company that acquires and develops brownfield uranium and vanadium projects in Utah, Colorado, and Wyoming, targeting direct commodity sales to US nuclear utilities once production begins within 24-30 months.

Ownership category

akta.pro rank

Product category

Uranium and Vanadium Mining

NAICS

Mining (except Oil and Gas) (212)

SIC

Metal Mining (1000)

akta.pro primary industry

Uranium Exploration & Resource Development (EUAKACAA)

akta.pro secondary industries

Uranium Mining & Milling (Yellowcake/U3O8 Production) (EUAKACAB), Nuclear Fuel Cycle for Power Generation (Uranium, Conversion, Enrichment, Fuel Fabrication) (EUACADAK)

Keywords

• Uranium mining
• Vanadium extraction
• Brownfield mining assets
• Nuclear fuel supply
• Commodity mineral production

Headquarters

HQ city

La Jolla

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Operations, Supply Chain, Personnel, Infrastructure

Revenue model

1. Uranium and Vanadium Sales: Revenue generated from extraction and sale of uranium and vanadium commodities from brownfield assets in Utah, Colorado, and Wyoming. The company is in pre-production phase targeting initial production within 24-30 months.

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels1 record

Core offering

Uranium American Resources is a junior mining company developing brownfield uranium and vanadium extraction assets across Utah, Colorado, and Wyoming. Its core offering is the planned production and sale of uranium and vanadium commodities to nuclear utilities, anchored by the Stateline Project and Sky Project, with a historic resource estimate of approximately 5 million pounds U3O8 across three projects.

Product overview

Uranium American Resources, Inc. (formerly Tonogold Resources, Inc.) is a uranium and vanadium resource company focused on acquiring and developing brownfield assets in the U.S. The company operates a portfolio of three low-risk projects across Utah, Colorado, and Wyoming, including the Stateline Project and Sky Project. The company completed its acquisition of JAG Minerals Pty Ltd for US$12.8 million, securing approximately 5 million pounds of historic U3O8 resource estimates, with US$2.5 million allocated for drilling activities at the Stateline and Sky projects.

Differentiator

Problem solved

Functional benefit

Products and services

• Stateline Project Brownfield uranium and vanadium project located approximately 19 kilometers from Energy Fuels' La Sal Complex, targeted for initial production within 24 to 30 months.
• Sky Project Brownfield uranium and vanadium project included in the portfolio of assets across Utah, Colorado, and Wyoming, with US$2.5 million allocated for drilling.
• Three Low Risk Projects Portfolio Portfolio of three unique low-risk uranium and vanadium projects located in the west central USA, known for historic production, close to significant mines and operating plants, with combined historic resource estimates of approximately 5 million pounds U3O8.

Quantifiable outcome

• ~5 million pounds U3O8 historic resource estimates across three projects

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

One partnership is on record.

• Energy FuelsminorOthersEnergy Fuels operates the La Sal Complex, which is located approximately 19 kilometers from the Stateline Project. This proximity represents potential infrastructure synergies rather than a formal partnership arrangement.

Scale indicators6 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Energy Fuels: Energy Fuels (NYSE: UUUU) is the largest US producer of uranium and vanadium, operating the La Sal Complex in Utah that sits ~19 km from Uranium American Resources' Stateline Project. It is the most direct peer because it mines the same commodities in the same jurisdiction and operates the processing infrastructure adjacent to UAR's flagship asset.
• Ur-Energy: Ur-Energy (NYSE American: URG) is a US-focused uranium producer operating the Lost Creek in-situ recovery mine in Wyoming. It is directly comparable as a small-cap, US-domiciled uranium developer-producer with a similar geographic footprint to UAR's Wyoming assets.
• Uranium Energy Corp: Uranium Energy Corp (NYSE American: UEC) is a pure-play US uranium producer and developer with ISR operations in Wyoming and Texas. It is a direct peer as a US-focused uranium company pursuing domestic production amid the same nuclear renaissance tailwinds.
• Denison Mines: Denison Mines (NYSE American: DNN) is a uranium exploration and development company focused on the Athabasca Basin in Canada. It is comparable as a junior uranium developer targeting the same end-market (utility fuel supply) but with a different geographic focus.
• Peninsula Energy: Peninsula Energy (ASX: PEN) is a uranium developer-producer with US assets at the Lance ISR Project in Wyoming. It is a direct peer given overlapping US uranium assets and the same target customer base of domestic utilities.
• NexGen Energy: NexGen Energy (NYSE: NXE) is a uranium development company focused on the Arrow deposit in Canada's Athabasca Basin. It is comparable as a junior uranium developer pursuing the same nuclear fuel supply opportunity, though geographically focused in Canada.
• enCore Energy: enCore Energy (NASDAQ: EU) is a US-focused uranium ISR producer with operations in Texas and Wyoming. It is a direct peer as a small-cap US uranium producer targeting the same domestic utility customer base.

Broad incumbents

• Cameco Corporation: Cameco (NYSE: CCJ) is the world's largest publicly traded uranium producer, operating the McArthur River and Cigar Lake mines. It is a broad incumbent that competes in the same end-market (uranium fuel supply to utilities) but at vastly greater scale and global geographic diversity.

Regional players

• Paladin Energy: Paladin Energy (ASX: PDN) is a uranium producer operating the Langer Heinrich mine in Namibia. It is a regional peer pursuing the same uranium supply opportunity but with a different geographic footprint.

Emerging players

• IsoEnergy: IsoEnergy (TSX: ISO) is a uranium exploration and development company focused on the eastern Athabasca Basin. It is an emerging peer in the uranium development space pursuing the same end-market opportunity but at an earlier exploration stage.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat3 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/tonogold-resources-inc-tngl-

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Subsidiaries1 record

Funding overview

Funding rounds3 records

Investors2 records

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

M&A1 record

Investments

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

Frequently asked questions about Uranium American Resources