Fission will be spurred by a bullish uranium market. The metal has garnered increased attention as a result of the energy market shake-up caused by Russia's war against Ukraine. 

The company - which has a share price at a five-month high - said it had repaid the remaining US$7 million or so of its credit facility, which rendered Fission completely debt and lien free. 

As of April 7, Fission held about $40 million of cash and cash equivalent, the company said. 

The feasibility study for the firm's high-grade, near-surface PLS uranium project is on schedule to be  completed this year, Fission added. 

A 2019 pre-feasibility study on the project showed a post-tax net present value at 8% of C$702 million (US$557 million), a post-tax internal rate of return of 25%, and a post-tax payback period of 2.5 years. 

The life-of-mine operating costs in that study showed C$753 million, with an initial capital cost of C$1,77 million, and total capital cost of C$1,459 million. 

The project timeline envisions a construction period of 3 years and operations period of 7 years. 

The indicated mineral resource stands at 102.36 million pounds U­₃O₈ based on 2.216 tonnes at an average grade of 2.10% U­₃O₈, while the inferred mineral resource is 32.81Mlb U₃O­₈ based on 1.221t at an average grade of 1.22% ­U₃O₉. The resources have a cut-off grade of 0.25%.

Fission also noted that roughly 80% of the property had yet to be explored, which left untapped potential. 

On the Toronto Stock Exchange, Fission's share price was quoted as C$1.04 on April 10 - the highest close since November 12, 2021. 

The stock has climbed from C$0.74/share since February 24 - which was the day that Russia launched its large-scale invasion of Ukraine. 

Fission had a market capitalisation of C$702.66 million.