According to the Saskatchewan Ministry of Energy and Resources, total 2008 uranium exploration expenditures in the Athabasca Basin are estimated to have reached $195.4 million, a slight decrease from 2007 expenditures which were recorded at a record $200 million.

The spot market price of uranium declined between January 2008 and December 2008 ($78 per pound and $52.50 per pound, respectively). The declining spot price may cause a reduction in exploration expenditures in the near future.

At present, more than 40 companies are exploring for uranium in the Basin. The majority of these companies are publicly traded and are operating in joint ventures with one or more other companies. Most of the activity is in the eastern part of the Basin where the major deposits are located. However, following new exploration successes, activity is increasing in the western portion of the Basin.

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