Continued Interest in the Uranium Industry Uranium prices are currently sitting near ATHs as many nations continue to seek uranium sources from places other than Russia. For example, the US is seeking to buy $4.3B of non-Russian uranium. This is huge for North American producers because it’s the beginning of a less import-dependent uranium industry.
$SYH.V is up 9.4% today as anticipation grows for their recent developments. For those who aren’t too familiar, $SYH.V (Skyharbour Uranium), is an exploration-stage company focusing on uranium/thorium exploration in the Athabasca Basin in Saskatchewan (rated #2 mining jurisdiction in the world). To add to their already extensive portfolio of projects, $SYH.V recently acquired a few more, which they’ll talk about in an upcoming webinar.
- Secured an Option to Acquire an Initial 51% and up to 100% of the Russell Lake Uranium Project from Rio Tinto in the Athabasca. This brings their total holdings to 450,000 hectares over 15 properties.
- The advanced-stage project (95,000m of past drilling) comprises of 26 claims covering 73,294 hectares and is located between $SYH.V’s Moore Uranium project and Denison Mines' Wheeler River project.
The fact that they now have Rio Tinto as a new strategic shareholder and project partner is huge for the future development of the property and company. As the uranium market continues to stay hot, there's a lot of upside for $SYH.V here. With strong resistance at the $0.30 range and only a $45M market cap, considering the recent developments and upcoming results, I'll be keeping a close eye out here.
Definitely check out the upcoming webinar on July 7 here: https://redcloudfs.com/rcwebinar-syh-2/