$SYH - Skyharbour Resources Uranium Exploration Uranium is becoming more prevalent in today’s society as countries and companies look for sustainable ways to produce energy. Some have been researching the use of nuclear power. This has caused institutional investors and big names like Micheal Burry and Sprott Asset Management. In fact, Sprott Asset Management just launched the world’s largest actively managed uranium fund.
- As of launch (July 19), it adds over $600M under management to Sprott
- It converted the Uranium Participation Corporation into the Sprott Physical Uranium Trust
- On the first day of trading, they purchased 100,000 pounds of uranium (bringing their total to 18,194,659 pounds total)
What does this mean for uranium? Now that one of Canada’s most prominent institutions has a fund for it, I expect the price of uranium to keep moving upwards as demand increases.
https://www.google.ca/amp/s/www.fool.com/amp/investing/2021/07/20/the-big-reason-uranium-stocks-soared-today/
With increasing uranium demand, prices, and interest,mining companies are becoming more critical. One that I've been watching for quite a while is $SYH. They have a few impressive projects that they're doing:
- 100% interest in the 35,705 hectare Moore Uranium Project. An advanced-stage project with drill results returning up to 6.0% U3O8 over 5.9 metres, including 20.8% U3O8 over 1.5 metres at a vertical depth of 265 metres
- JV with Orano Canada (owns 24.5 interest in the Preston Project)
- JV with Azincourt Energy (owns a 15% interest in the East Preston Project)
- 100% interest in the South Falcon Uranium Project
- Recently signed agreement with the Australian company, Valor Resources, for the Hook Lake Uranium Project
More on their projects: https://skyharbourltd.com/projects/projects-overview/
With their joint ventures and partnerships with other industry-leading exploration companies, I expect $SYH to begin moving upwards to the $0.50 range again very soon. Still, today has been excellent for the company (+7.04) to $0.38 with a market cap of $45M.