Western Uranium & Vanadium Corp (OTC: WSTRF) is a uranium and vanadium mining company that explores and produces these minerals from properties in the United States. The company generates revenue through the sale of uranium and vanadium extracted from its mining operations, with its Sunday Mine Complex as the primary active project. As of the 10-K filed April 15, 2026, the company reported no revenues for FY2025 or FY2024, operating at a net loss funded through equity financing including private placements and warrant exercises. The Sunday Mine Complex targeted an annualized production rate of 1 million pounds of uranium and 6 million pounds of vanadium during 2024 ramp-up operations. Primary end markets are nuclear power generation for uranium and steelmaking for vanadium. CEO George Glasier beneficially owns 8.7% of common shares outstanding, making him the largest individual shareholder, with 71,853,888 total common shares outstanding as of April 14, 2026.

Revenue model

Transactional mineral sales from uranium and vanadium production. The company reported $0 in revenues for both FY2025 and FY2024 per the 10-K filed April 15, 2026, operating at a net loss and funding operations through equity capital raises.

Products and services

Uranium ore and vanadium ore extracted from the Sunday Mine Complex. The company targeted annualized production of 1 million pounds of uranium and 6 million pounds of vanadium during its 2024 ramp-up. The Sunday Mine Complex includes the Leonard & Clark deposit accessed via underground drift development.

Customers and end markets

Uranium sold into the nuclear fuel supply chain, with primary end-use in nuclear power generation. Vanadium sold into steelmaking markets. Uranium spot prices ranged from $64/lb to $78/lb through August 2025 and spiked above $100/lb briefly in January 2026, per the FY2025 10-K filing.

Value-chain role

Upstream mineral producer: exploration, development, and extraction of uranium and vanadium from underground mines. Does not appear to operate downstream processing or conversion facilities based on filing excerpts.

Geographic exposure

United States. The Sunday Mine Complex is the primary operating asset. Specific state location not confirmed in the provided excerpts.

Source: SEC 10-K, filed 2026-04-15

Industry: Miscellaneous Metal Ores Peers: Cameco Corp