Just two weeks ago I joined Azincourt Uranium as CEO and director after a 19 year stint with Cameco. It’s interesting because I found myself standing at the Azincourt booth at the Cambridge Investment Conference this past weekend talking to some new investors. One of them asked me how I was finding the move to a junior from Cameco – one of the biggest players in uranium mining. I thought about it for a moment and I had to say that there are differences sure, but not the ones you might expect.
I should start by telling you a bit about my background and the skillset I’m bringing to Azincourt. My time with Cameco was spent in the exploration division, most recently as a Director in the Corporate Development group. The team I headed up was focused on uranium growth which meant evaluating, directing and exploring for uranium deposits throughout North America, Australia, South America and Africa.
I led new project generation and was also responsible for the evaluation, acquisition and subsequent management of Cameco’s exploration partnerships. In other words, I was responsible for identifying and developing high growth uranium projects, for selecting the right junior partners and for managing the Cameco-junior relationship.
When you’re a junior your goal is to find a great project, develop it into a discovery and sell to a major. There may be a few extra steps along the way but that’s the sum of it and that’s why my time with Cameco fits perfectly with Azincourt’s goals. We already have a head start: Patterson Lake (PLN) is one of the most exciting early stage projects I’ve seen. We have a joint venture with Fission Uranium – the hottest uranium explorer in the Athabasca Basin – and the uranium sector is entering a stage where demand is growing stronger by the moment.
This is a great time to be joining Azincourt Uranium and I’m looking forward to sharing my thoughts on company news and activity as we move forward.
Ted O’Connor, Azincourt Uranium CEO