Western Uranium & Vanadium is a small, early-stage mining company focused on extracting uranium and vanadium from properties in Colorado and Utah. Uranium's primary commercial use is as fuel for nuclear power plants, while vanadium is used primarily as a steel hardener and has emerging demand for grid-scale energy storage batteries. Western's core asset is the Sunday Mine Complex, a cluster of five underground mines in western Colorado, though underground operations were placed on standby in early 2026. The company is pre-revenue at scale — it made a small ore sale to Energy Fuels' White Mesa Mill in 2025, but lacks its own processing mill and cannot independently produce finished uranium or vanadium product. Western's long-term model is to mine ore, process it through its own planned Mustang Mineral Processing Plant in Colorado, and sell finished uranium oxide and vanadium pentoxide to utilities, brokers, and industrial buyers. Mustang, acquired in 2024, targets a license application in Q4 2026 and processing to begin in 2029. Western also holds an exclusive license for Kinetic Separation, a physical process that concentrates mineralization underground before milling, which management estimates can reduce uranium production costs by roughly 40-50%. Beyond the Sunday Mine Complex, Western is advancing several additional projects in Utah and Colorado. The company funds operations through equity capital raises and had only 16 full-time employees as of year-end 2025.