Investor Insight

Purpose-built for today’s energy transition, xU3O8 sits at the intersection of technology, finance, and nuclear energy, offering a simplified and transparent alternative to legacy uranium investments amid surging global demand. The xU3O8 token, now accessible on leading global exchanges, is a groundbreaking digital asset that provides direct, efficient exposure to the uranium market.

Overview

Uranium.io is a next-generation platform revolutionizing how investors access and trade physical uranium (U3O8). By leveraging blockchain technology, it enables individuals and institutions to directly own and trade uranium, bypassing many of the inefficiencies, opacity and high costs traditionally associated with uranium exposure. Each xU3O8 token represents real, physical uranium stored securely in a regulated depository operated by Cameco, with Archax, a UK-regulated digital asset firm, as the custodian for the physical uranium ensuring transparency and trust in asset backing.

The platform is designed to meet growing investor demand for exposure to uranium, a commodity that is a critical component of the global energy transition. As countries commit to reducing carbon emissions, nuclear energy is increasingly seen as a reliable and scalable source of low-carbon electricity. Governments across North America, Europe and Asia are ramping up their nuclear energy capacities, as part of their net-zero targets. This includes restarting idled reactors, constructing new reactors, and accelerating the development of small modular reactors.

Nuclear power is also emerging as a stable and scalable option for supporting artificial intelligence (AI) data centers, which require massive amounts of electricity to operate. Industry leaders, including Microsoft, have announced nuclear energy investments, and several technology firms have secured long-term agreements for nuclear power.

Like gold and silver before it, uranium is entering a phase of financialization — with physical holding trusts, ETFs, and now platforms like uranium.io offering direct physical uranium ownership via xU3O8, making it more accessible to a wider set of investors.

As traditional financial markets converge with digital innovation, tokenized assets are becoming a preferred vehicle for commodities investing. Uranium.io’s use of the Etherlink blockchain ensures secure, real-time trading with minimal friction — a distinct advantage in an increasingly digitized investment landscape.

Development of the uranium.io platform is led by the team at London-based Trilitech, a group of entrepreneurs and technologists driving blockchain innovations.

With its emphasis on direct fractional ownership and 24/7 worldwide accessibility, xU3O8 is uniquely positioned to serve as the gateway to physical uranium exposure for a global investor base. Alignment with broader energy and digital asset trends makes it a compelling vehicle for those seeking to capitalize on uranium’s strong fundamentals and the disruptive power of decentralized finance.

In July 2025, the company launched its xU3O8 token on KuCoin, MEXC, and Gate.io — ushering in a new era of uranium investment. This simultaneous, multi-platform listing marks a major milestone in the evolution of real-world asset (RWA) tokenization, delivering institutional-grade exposure to uranium markets to a combined audience of over 115 million global traders.

By debuting across multiple top-tier platforms, xU3O8 ensures broad accessibility and liquidity for investors:

• KuCoin – With over 41 million users in 200+ countries, KuCoin offers a full suite of trading services—spot, margin, options, and futures. As a technology-first exchange focused on accessibility, KuCoin shares xU3O8’s mission to dismantle traditional investment barriers.
• MEXC – Founded in 2018, MEXC serves 36 million users globally and has seen explosive 2024 growth: 143 percent increase in spot trading and 118 percent in futures. Its intuitive platform makes crypto trading “simple, accessible, and rewarding,” mirroring xU3O8’s goal of democratizing uranium investment.
• Gate.io – Ranked among the top 3 global crypto exchanges by real trading volume, Gate.io boasts 32 million users and supports over 3,600 digital assets. With institutional-grade security and a commitment to 100 percent reserve holdings, Gate.io provides the infrastructure essential for tokenized commodity trading.

Company Highlights

• Uranium.io is a pioneering platform for buying and selling uranium, providing direct ownership of physical uranium via a blockchain-powered token xU3O8.
• Built on Etherlink, powered by Tezos technology, enabling transparency, low fees, energy efficiency and programmable compliance.
• FCA-regulated digital asset custodian, Archax, holds physical uranium in trust on behalf of token holders.
• Physical supply is brokered by Curzon Uranium, a trusted uranium trading and logistics partner with deep industry roots and over $1 billion in uranium trades.
• The uranium bought on the platform is physically stored at a regulated depository owned and operated by Cameco, one of the world’s leading global uranium providers/converters.
• Global 24/7 market access offering fractionalized and direct uranium exposure with real-time settlement and cross-border accessibility.
• Capitalizing on nuclear energy’s role in clean energy transition and the financialization of critical minerals.
• The company has launched the xU3O8 token across three of the world’s leading cryptocurrency exchanges: KuCoin, MEXC, and Gate.io.
• Uranium.io launches a near-real-time pricing oracle, disrupting uranium market opacity and delivering unmatched transparency and efficiency.

Technology Platform

Uranium.io is built on a secure, decentralized technology stack that integrates blockchain infrastructure, digital asset custody, and real-world commodity supply — delivering unprecedented access and transparency to the uranium market. The platform bridges traditional commodities trading with Web3 innovation, allowing users to seamlessly acquire, hold and trade physical uranium via xU3O8 tokens.

Uranium.io unveiled the world’s first uranium spot pricing oracle, aimed at addressing the price opacity issues in the uranium market. Unlike oil, gold, base metals, and agricultural commodities, uranium pricing has traditionally relied on fragmented, privately negotiated over-the-counter deals, leaving market participants in the dark and creating inefficiencies and uncertainty that limit broad participation.

Uranium.io’s oracle transforms this landscape with:

• Real-time pricing oracle: Launched to tackle uranium market opacity, providing near-instant spot price updates and boosting transparency and efficiency.
• Tokenized uranium trading: Investors can trade fractional shares of physical uranium, democratizing access to a traditionally restricted market.
• Market interest surging: Uranium-related financial instruments, including ETFs, have outperformed Bitcoin in 2025, reflecting growing investor demand.
• Data-driven insights: Aggregates dozens of sources—spot feeds, nuclear equities, commodity funds—and uses algorithms to mirror uranium’s complex market dynamics.

Blockchain Infrastructure: Etherlink, Powered by Tezos

At the heart of xU3O8’s digital asset engine is the Tezos blockchain, a highly secure, energy-efficient and self-amending Layer 1 protocol. Tezos is uniquely suited to power real-world asset tokenization due to its low transaction costs and energy efficiency; on-chain governance and smart contract flexibility; and enterprise-grade security and decentralization.

Tezos’ track record with real-world assets, including tokenized real estate and art, positions it as an ideal foundation for the secure, scalable digitization of uranium ownership.

Digital Custody: Archax

To ensure that each xU3O8 token is backed with physical uranium, uranium.io is supported by Archax, a London-based, digital asset custodian and exchange regulated by the Financial Conduct Authority. Archax provides regulated asset custody, KYC/AML-compliant onboarding, and real-time asset reconciliation.

Archax brings institutional-grade governance and accountability to the storage and oversight of physical uranium, ensuring that investor holdings are not just theoretical but physically secured.

Physical Supply: Curzon Uranium

Access to physical uranium is facilitated by its partnership with Curzon Uranium, a specialized uranium trading and logistics firm. Curzon acts as the platform’s uranium provider, sourcing, purchasing and delivering uranium from trusted upstream suppliers to secure storage.

Curzon’s decades of experience in uranium procurement adds physical credibility and market depth to the xU3O8 ecosystem — making the platform more than just a digital asset project, but a fully integrated uranium trading platform.

Physical uranium storage: Cameco

The physical uranium ore concentrate (U3O8) is securely stored at a regulated storage facility, operated by Cameco, one of the three globally recognized uranium conversion and storage providers. For transparency, Proof of Reserves is always available on the website and is updated with monthly statements from Cameco.

Together, Tezos, Archax and Curzon Uranium form the digital, custodial and physical backbone of the uranium.io platform. This trio of technologies and partnerships ensures a secure, compliant and efficient path for investors to gain physical uranium exposure — fractionalized, tokenized and tradable 24/7 on a global scale.

What is manganese?

Manganese is a silvery white transition metal that is nearly as abundant in the earth’s crust as another transition metal, iron. It has many of the same properties of iron, but is harder and more brittle. Manganese is also an essential nutrient for plant growth and human health.

What is manganese used for?

The steel sector accounts for most manganese demand, and its use in batteries is the largest demand growth driver.

Used as an alloy constituent, manganese improves the strength, toughness and stiffness of steel. Manganese is also mixed with aluminum to manufacture tin cans. In addition, manganese may be used as an additive in refined oil to help coat and protect vehicle engines.

Manganese dioxide has long been used as a cathode material in alkaline batteries, but this is not the manganese battery market that is now the most interesting. Manganese is drawing attention for its role in several types of lithium-ion battery cathodes that require the metal, including the popular nickel-manganese-cobalt (NMC) and lithium manganese iron phosphate (LMFP) batteries.

NMC batteries are in high demand in the electric vehicle sector as they improve energy loading and lifespan, and electric vehicles using this cathode type have been popular in North America. LMFP batteries show improved energy density, capacity and low-temperature performance over lithium-iron-phosphate (LFP) batteries by adding manganese. Battery makers seeking to reduce costs and secure supply chains have been adopting this battery chemistry as an alternative to nickel and cobalt chemistries.

Manganese supply and demand trends

The battery industry is the second largest consumer of manganese today, and many market watchers believe that demand from this sector could be set to increase in the future. However, the steel sector still remains the biggest drive of manganese demand.

However, mining companies are increasingly focusing on the growing battery market for their projects.

“When looking for investment, companies like to align their projects with growing market sectors, so when companies are talking about new mine investments, they often reference the EV supply chain — even if in practice, most of the ore will likely go to ferroalloy producers for consumption in steel production,’ Hanna added.

That strategy on the part of manganese miners makes sense given Fastmarkets’ forecast for the metal’s role in the battery metal in the next decade. “We expect demand to grow from now and into the 2030s, driven in part by new chemistries like LMFP,” the firm stated.

China represents the geographical focal point of the manganese market as the country is the largest producer and consumer of steel. It also dominates the manganese battery market as it is the top producer of high purity manganese sulphate. Investors keen on the manganese space should watch for signs of strength or instability in the Chinese economy, particularly the real estate, infrastructure and EV markets.

Looking at supply, the three top manganese producing countries are South Africa, Gabon and Australia. Global manganese production reached 20 million metric tons in 2024, a slight increase of 400,000 metric tons from 2022, as per the US Geological Survey.

With an output of 7.4 million metric tons, South Africa accounts for about 37 percent of total global manganese production. The country is also home to almost 33 percent of global economic manganese mineral reserves.

South32 (ASX:S32), which has operations in South Africa and Australia through the Samancor 60/40 joint venture with Anglo American (LSE:AAL,OTCQX:NGLOY), is the world’s largest manganese-producing company. Disruptions to its operations can have major impacts on the manganese market and prices for the metal.

For example, the suspension of operations at its Australia-based Groote Eylandt Mining Company (GEMCO) operations in March 2024 due to a tropical cyclone was one of the key drivers of manganese prices that year.

While a phased return to mining began in June 2024, the severity of the flooding brought about by the cyclone damaged the wharf with which the company exported its products to the global market. The company officially opened its reconstructed wharf in late August 2025.

How to invest in manganese

As the manganese story has picked up speed in recent years with its necessity to popular electric vehicle cathodes, more publicly traded companies are focused on manganese, offering investors more choices for exposure to the metal.

Manganese mining and junior stocks

Large-cap manganese stocks

While there are plenty of large companies are involved in manganese production, many of them are private. Still, there are a few major publicly traded mining companies currently producing manganese products for the steel and battery industries.

Anglo American (LSE:AAL,OTCQX:NGLOY)
Anglo American is a British multinational miner that owns 40 percent of the Samancor manganese joint venture alongside operator South32. Samancor’s operations include the GEMCO manganese mine in Australia’s Northern Territory and the South Africa Manganese operation. GEMCO is the world’s second largest manganese mine.

Eramet (EPA:ERA)
Eramet produces manganese ore from the Moanda mines in Gabon. Eramet is the largest producer of manganese worldwide and also produces manganese alloy at its plants in four countries.

Jupiter Mines (ASX:JMS)
Jupiter Mines operates the Tshipi Borwa manganese mine in South Africa’s Kalahari Manganese Field, considered the largest manganese mine in the country by export volume and one of the largest in the world. Jupiter holds a 49.9 percent interest in the Tshipi joint venture.

South32 (ASX:S32)
South32 is the operator of multiple manganese operations through its 60/40 Samancor joint venture with Anglo American. Samancor holds a 74 percent interest in the South Africa Manganese operations in South Africa’s Kalahari Basin alongside Broad-based Black Economic Empowerment entities. South32 is also the operator of the joint venture’s wholly owned Groote Eylandt, or GEMCO, mine in Australia.

Junior manganese mining stocks

Investors interested in smaller-cap manganese companies may want to look at junior manganese mining stocks. These manganese stocks are some of the options available to investors. They had market caps above $20 million as of September 16.

Element 25 (ASX:E25,OTCQX:ELMTF)
Element 25 is working on an expansion and a restart to operations at its Butcherbird manganese mine in Western Australia by 2026. The company is also planning to build a battery-grade high-purity manganese sulphate monohydrate refinery in Louisiana, US.

Euro Manganese (TSXV:EMN)
Euro Manganese is developing its Chvaletice manganese project in Czechia. Instead of mining manganese, the company plans to recycle tailings from a past-producing mine to produce manganese and decontaminate the site. The EU designated it as a strategic project under the Critical Raw Materials Act.

Firebird Metals (ASX:FRB)
Firebird Metals aims to create a vertically integrated manganese company, mining high-purity manganese from its Oakover project in Western Australia, and processing it into battery-grade manganese sulfate at its proposed plant in China.

Giyani Metals (TSXV:EMM)
Giyani Metals has a portfolio of manganese oxide projects in Botswana, including its flagship K.Hill project, from which it plans to produce high-purity manganese sulfate monohydrate, with first production on track for Q3 2025.

Manganese X Energy (TSXV:MN,OTCQB:MNXXF)
Manganese X Energy is exploring and developing its Battery Hill manganese project in New Brunswick, Canada, with the goal of producing high-purity manganese for the North American market.

OM Holdings (ASX:OMH,OTCQX:OMHI)
OM Holdings is a vertically integrated manganese ore and ferroalloys company based in Singapore with global operations. It holds a 26 percent interest in the Tshipi joint venture that owns the Tshipi Borwa manganese mine in South Africa.

RecycLiCo Battery Materials (TSXV:AMY,OTCQB:AMYZF)
RecycLiCo Battery Materials’ technology recycles cathode materials from battery waste and upcycles them into lithium and battery cathode precursors. The company designs and installs on-site battery material recycling plants globally.

Investor Insight

Green Technology Metals aims to build Ontario’s first integrated lithium business, developing two mining hubs and a downstream conversion facility to supply North America’s fast-growing EV and battery industry. The company’s approach is straightforward: bring Seymour into production, secure the downstream footprint at Thunder Bay with EcoPro, and then layer in Root as a long-life second feed. The plan is underpinned by offtake agreements, government funding and a management team with direct experience building lithium mines.

Overview

Green Technology Metals (ASX:GT1) is building Ontario, Canada’s first integrated lithium business, anchored by three upstream assets and a planned downstream conversion facility. The portfolio consists of the flagship Seymour project, the large-scale Root lithium project, and the Junior exploration project, which together provide a clear pipeline of feed into a proposed lithium hydroxide facility in Thunder Bay, Ontario.

The company is actively leveraging Canadian policy support for critical minerals development and supporting a growing number of EV and battery manufacturers in Ontario. The province’s Building More Mines Act, alongside several federal programs, is creating a supportive funding environment for new projects. GT1 has already received conditional approval for C$5.5 million from the Critical Minerals Innovation Fund (CMIF) to support road and infrastructure upgrades at Seymour. In addition, the company has received a letter of intent for a C$100-million project financing support from Export Development Canada, and has pending applications with SIF/NRCan and CMIF Round 2, including a C$5-million submission tied to the Root project. These mechanisms substantially de-risk the financing path and provide tangible momentum toward development.

The strategy is being executed in three phases. First, Seymour will be brought into production with a concentrator based on a dense media separation flowsheet, taking advantage of coarse spodumene mineralogy and proven metallurgical performance. Second, GT1 will construct the Thunder Bay lithium conversion facility in partnership with EcoPro Innovation, replicating proven hydrometallurgical technology to produce battery-grade lithium hydroxide. Finally, Root will be developed as the company’s second, larger mining hub, designed to provide long-life scale and additional feed into the Thunder Bay facility.

Pilot processing of 600 kg of Seymour concentrate produced exceptional overall recoveries averaging >94 percent.

Strategic partnerships reinforce this integrated model. LG Energy Solution has secured a binding offtake for a portion of Seymour’s concentrate production and has invested directly into GT1, providing early validation of the project’s place in the EV supply chain. EcoPro Innovation, as the company’s technical partner on the Thunder Bay facility, has already piloted Seymour concentrate into high-purity lithium hydroxide.

Company Highlights

• Integrated strategy in Ontario: The Seymour and Root projects form the foundation for a vertically integrated lithium business, supported by a proposed lithium hydroxide plant in Thunder Bay, Ontario, with rail, port, power, gas and water access.
• Marketing and offtake secured: LG Energy Solution has a binding offtake for 25 percent of Seymour concentrate and has invested directly into the company, demonstrating strong downstream demand.
• Strategic process partner: EcoPro Innovation is co-developing the conversion facility. Pilot work has already produced battery-grade lithium hydroxide with high recoveries.
• Government backing: GT1 has secured conditional approval for significant funding programs, including C$5.5 million for road upgrades, a C$100 million project financing support LOI from EDC, and additional CMIF and SIF applications.
• Resource base: A combined inventory of over 30 Mt @ ~1.2 percent lithium oxide across Seymour and Root, providing both near-term production and long-life scale.
• By-product upside: Seymour hosts a significant rubidium resource in mica streams that could be recovered alongside lithium, creating an additional revenue line.

Key Projects

Seymour Lithium Project

The Seymour lithium project, near Armstrong, Ontario, contains a total resource of 10.3 million tonnes (Mt) @ 1.03 percent lithium oxide, including 6.1 Mt indicated @ 1.25 percent lithium oxide. Mineralization is hosted in the North and South Aubry pegmatites, which remain open along strike and at depth. An optimized preliminary economic assessment (PEA) demonstrated strong project economics based on a DMS-only concentrator producing 130 ktpa. Key numbers include a C1 cash cost of US$680/t, an after-tax NPV of US$251 million, an IRR of 33 percent, and a three-and-a-half-year payback.

The project benefits from existing road and rail access, low strip ratios, and simple metallurgy with coarse spodumene that responds well to dense medium separation (DMS). Mining leases were granted in August 2025, the environmental assessment submission has been lodged, and the closure plan is nearing completion.

An offtake agreement with LG Energy Solution secures sales for 25 percent of initial concentrate production. Seymour also includes a maiden rubidium resource (8.3 Mt @ 0.27 percent rubidium oxide, with a 3.4 Mt high-grade core at 0.40 percent), which can be recovered from mica streams already separated in the flow sheet, creating potential for a by-product circuit.

Thunder Bay Lithium Conversion Facility

GT1 and EcoPro Innovation are developing a lithium hydroxide monohydrate facility in Thunder Bay. The selected site is fully serviced with rail access, 44 kV power, municipal water and gas, and port facilities. The plant will replicate EcoPro’s operating hydromet trains, with two parallel ~13 ktpa back-end lines designed to scale with Seymour and Root concentrate supply.

Pilot-scale processing of 600 kg of Seymour concentrate at EcoPro’s Pohang facility achieved battery-grade lithium hydroxide, meeting downstream specifications with >94 percent overall recovery. This demonstration significantly de-risks the conversion step and supports ongoing financing discussions with Invest Ontario, SIF and EDC. The project is being advanced through PFS-level engineering, with permitting and JV structuring underway.

Root Lithium Project

Located in Northwestern Ontario, Root is GT1’s scale project, hosting 14.6 Mt @ 1.21 percent lithium oxide (10.0 Mt Indicated @ 1.32 percent). The April 2025 optimized PEA outlined a combined open-pit and underground mining scenario producing ~213 ktpa. The project carries a C1 cost of ~US$677/t, an after-tax NPV of US$668 million, an IRR of 53.5 percent, and a three-year payback.

Root enjoys outstanding infrastructure advantages: road and rail access, proximity to port, and most critically, grid hydro power delivered by the Watay transmission line, reducing both operating costs and upfront capex for power infrastructure. Drilling has confirmed stacked pegmatite bodies that remain open along strike and down dip, leaving scope for significant resource expansion. A bulk sample has been completed, with further testwork and pilot runs at EcoPro planned. Permitting is in its early stages, with a PFS targeted for 2026 and potential construction by late 2027.

Junior Lithium Project

The Junior project is located near Seymour and contains three drill-ready targets. Its proximity to the planned Seymour concentrator makes it a strategic satellite project, with the potential to extend Seymour’s mine life and provide incremental feed. Drilling is expected to test these targets in upcoming campaigns, potentially increasing the overall feed available for the Seymour hub.

Management Team

John Young – Non-executive Chairman

John Young co-founded Pilbara Minerals and played a key role in transforming it into a multi-billion-dollar lithium producer. His background as a geologist spans more than three decades, with significant contributions across discovery, development and financing of lithium and gold projects. At GT1, Young provides strategic oversight and proven operational expertise to scale a lithium developer into a fully integrated producer.

Cameron Henry – Managing Director

Cameron Henry was appointed managing director in June 2024, stepping up from his earlier role as executive director. A founder and substantial shareholder of GT1, Henry has over 20 years’ experience in minerals processing and project delivery. Prior to GT1, he built Primero Group into a respected global leader in lithium infrastructure EPC, successfully executing major projects in Australia and globally. His role is to drive Seymour into production and to lead the execution of the Thunder Bay downstream strategy.

Patrick Murphy – Non-executive Director

Patrick Murphy brings nearly two decades of experience in resource sector investment and deal-making. He has held senior positions at Macquarie and AMCI Group, with expertise in capital deployment, project financing and strategic partnerships. His presence on GT1’s board ensures strong connectivity to the financial community and a disciplined approach to structuring project funding.

Robin Longley – Non-executive Director

With more than 30 years of experience in exploration and project evaluation, Robin Longley is a seasoned geologist who has led successful exploration and development programs across lithium, gold and other critical minerals in Australia, Canada and Africa. His practical technical knowledge and management experience strengthen GT1’s ability to evaluate and expand its Ontario portfolio.

Han Seung Cho – Non-executive Director

Representing EcoPro Innovation, Han Seung Cho serves as a direct link between GT1 and its strategic partner on the Thunder Bay conversion facility. As general manager of EcoPro’s strategic business team, he brings decades of experience in lithium procurement, downstream offtake structuring, and project development for LHM plants. His position ensures that GT1’s downstream ambitions remain closely aligned with end-user requirements in the battery sector.

Chinese tech firms turn to local alternatives

At the same time, NVIDIA is facing a longer-term challenge: leading Chinese firms are beginning to lean more heavily on their own silicon. Alibaba and Baidu (NASDAQ:BIDU) have started using internally designed chips to train AI models, according to the Information, marking a shift away from exclusive reliance on NVIDIA hardware.

Alibaba has deployed its chips for smaller AI models since early this year, while Baidu is experimenting with training new versions of its Ernie AI model using its Kunlun P800 processor.

According to the report, three employees who have worked with Alibaba’s chip said that its performance is now competitive with NVIDIA’s H20, a sign of the rapid improvement in China’s homegrown designs.

Neither Alibaba nor Baidu responded to requests for comment from Reuters.

In response to the report, NVIDIA said: “The competition has undeniably arrived … We’ll continue to work to earn the trust and support of mainstream developers everywhere.”

Although most companies still rely on NVIDIA chips for their most advanced systems, Beijing has made clear that it wants its local firms to reduce dependence on foreign suppliers by adopting domestic alternatives where feasible.

Regulatory pressure from Beijing

Compounding NVIDIA’s difficulties, China’s market regulator has accused the US chipmaker of violating anti-monopoly laws. The watchdog did not specify what conduct was under investigation, but said it will continue its probe.

NVIDIA refuted the allegations, stating that it has complied with Chinese law “in all respects” and pledging to cooperate with “all relevant government agencies.”

The company has been under scrutiny in China since December, when regulators launched an initial inquiry seen as a countermeasure in the wider semiconductor standoff with Washington.

NVIDIA CEO Jensen Huang said late last month that discussions with the White House over licensing a less advanced version of its next-generation chip for China “will take time.”

Separately, the company has reportedly struck a deal with US President Donald Trump to exchange 15 percent of its China sales revenue from H20 chips in return for export approvals.