With major tech companies, like Google, Microsoft and Amazon deciding to explore and invest in nuclear power to fulfil their energy needs, ASX uranium stocks have come on the horizon of long term investors. Since tech companies would be needing energy on a large scale to power their data centres, top growth stocks in the sector can have very good long term potential. Among growing companies to invest in are
Boss Energy Ltd (ASX: BOE)
Boss Energy Ltd (ASX: BOE) is quickly establishing itself as a major player in the global uranium market through solid progress at its Honeymoon operation in South Australia. The project has touched commercial production and achieved a strong run rate of 1.2 million pounds annually, aiming to deliver 850,000 pounds in FY25. Operating costs are on track to meet a forecasted C1 cost of A$37–41/lb, ensuring strong profit margins. The site is now cash flow positive, supporting further investment. Supported by $229 million in cash and liquid assets, Boss is also advancing the next phase of infrastructure, including additional NIMCIX columns and wellfield development.
The company is also expanding organically and through partnerships. It holds a 30% interest in the Alta Mesa ISR Project, which is ramping up to 1.5 million pounds per year, contributing directly to Boss's unencumbered inventory. In Australia, infill drilling at the Gould’s Dam and Jasons satellite deposits is underway and updated mineral resource estimates expected soon. Exploration also continues at Cummins Dam and around the Honeymoon region. In the Northern Territory, Boss is progressing through a staged agreement on the Liverpool Uranium Project and holds strategic interests through its shareholding in Laramide Resources, giving access to additional high-potential assets.
The global uranium market is tightening by demand rising and new supply lagging. Boss Energy is well-placed to capitalize, as utilities re-engage in long-term contracts and prices hit record highs in AUD terms. The company's contracting approach and exposure to uranium friendly jurisdictions, including the US and Kazakhstan, provide a diversified platform for sustainable growth.
Deep Yellow Ltd (ASX: DYL)
Deep Yellow Ltd (ASX: DYL) is well placed to play a major role in meeting the growing global demand for nuclear energy. Over the last 18 months, global nuclear energy demand has rapidly enhanced. China continues its aggressive reactor rollout, while the EU has shown strong political backing for nuclear. India, on its way to becoming the third-largest economy by 2027, is incorporating nuclear into its energy mix. Southeast Asia has reversed previous hesitations, and North America is now re-engaging with nuclear at scale. The Middle East is also moving forward decisively. The explosive growth of data centres and AI technologies is also driving urgent power demand, favouring nuclear for its low-carbon, reliable output.
Despite strong demand, uranium supply remains deeply constrained. The sector has seen a decade of underinvestment, leaving it undercapitalised and short on skilled personnel. Major players like Kazatomprom are facing operational challenges, and Cameco has been cautious, avoiding greenfield developments even at high prices. Global production is now heavily reliant on few new projects, many not ready for development.
Deep Yellow is one of the mid-cap uranium companies capable of stepping up to meet future demand. It holds two advanced long-life projects in Tier-1 jurisdictions, offering geographic and asset diversity. The company’s Tumas Project is near production with financial viability already confirmed, targeting output by mid-2027. Its exploration assets offer significant upside, notably at Alligator River, which holds high-grade potential, and Omahola in Namibia, which has revealed new targets across a large prospective zone.
(Source: Company Announcements)
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