WA Uranium Ban Review Puts Cauldron’s Future Exploration in the Spotlight

Strategic Collaboration with Navoiyuran

Cauldron Energy Limited has entered a non-binding Memorandum of Understanding with Navoiyuran, Uzbekistan’s national uranium company and the world’s second-largest producer of uranium via In Situ Recovery (ISR). This partnership aims to leverage Navoiyuran’s extensive technical expertise and operational experience to advance Cauldron’s Yanrey Uranium Project in Western Australia. The collaboration contemplates technical assistance in design and operations, potential future funding, government advocacy support, and specialist ISR input into ongoing studies.

This agreement marks Navoiyuran’s first formal engagement in Australia, underscoring the global interest in Cauldron’s project and the growing momentum behind ISR mining methods, which are considered environmentally and economically favourable for sedimentary-hosted uranium deposits like Yanrey.

Exploration Progress and Upcoming Drilling

Cauldron is preparing to commence a 9,000-metre air-core drilling program in early November 2025, targeting extensions of the Manyingee South uranium deposit, particularly to the east and southeast into newly acquired tenement E08/3204. This follows a comprehensive passive seismic survey conducted over multiple tenements, which has refined the understanding of the palaeochannel systems hosting uranium mineralisation.

The passive seismic work identified several high-priority targets, including a previously undiscovered palaeochannel that mirrors the geological setting of the Manyingee South deposit. These findings bolster the prospectivity of Cauldron’s Yanrey tenure, which now hosts a combined Mineral Resource Estimate of 42 million pounds of uranium oxide across the Manyingee South and Bennet Well deposits.

Regulatory Environment and Market Context

Western Australia’s longstanding uranium mining ban, imposed in 2017, is currently under parliamentary review with a report expected by mid-2026. Recent comments from WA Premier Roger Cook suggest a softening stance, with the government “watching this space” amid growing calls from industry and stakeholders to lift the ban. Cauldron has actively contributed to the inquiry, submitting a detailed 104-page document advocating uranium mining as a key driver for global decarbonisation and economic growth in WA.

Meanwhile, the global uranium market fundamentals remain robust. Spot uranium prices have hovered around US$75-80 per pound, supported by supply constraints from major producers and increasing demand driven by nuclear power expansion, including small modular reactors. Industry reports highlight a widening supply gap, reinforcing the strategic importance of projects like Yanrey.

Financial Position and Corporate Developments

Cauldron ended the quarter with $1.91 million in cash reserves, sufficient to fully fund the upcoming drilling and exploration activities. The company reported exploration expenditure of $136,000 for the quarter, primarily on salaries, consultants, and camp upgrades. Additionally, 86,943 options were exercised, raising a modest $1,300, with over 263 million options still outstanding and in the money, potentially generating up to $3.95 million if fully exercised.

On the corporate front, the CEO’s remuneration was increased to $450,000 per annum, fixed for three years, reflecting the company’s growth trajectory and operational demands. Cauldron also settled its sand tenement interests, retaining only the Onslow leases, which remain under review for potential value maximisation.

Outlook

With a strengthened technical partnership, a fully funded exploration program, and a regulatory environment showing signs of potential change, Cauldron Energy is well positioned to unlock further value at Yanrey. The upcoming drill results and government inquiry outcomes will be pivotal in shaping the company’s next phase of development and investor sentiment.