Uranium energy production accounts for nearly 10% of global energy production while still being a relatively clean and extremely efficient method. If we want to have a cost-effective transition away from harmful production methods such as coal and gas, nuclear power is essential going into the future. Moreover, uranium demand is set to outpace supply which could create a uranium shortage. Sprott's Asset Management CEO recently stated that prices could double from here due to the supply/demand imbalance.
https://www.kitco.com/news/2022-05-05/Uranium-price-has-a-lot-more-runway-left-and-needs-to-double-for-supply-to-meet-demand-Sprott-s-Ciampaglia.html
With Russia currently impacting the supply of uranium, spot prices have been sitting at an elevated level for several months, which is extremely beneficial for companies in the mining sector. $SYH.V is a uranium exploration company with a number of high-grade projects in the famous Athabasca Basin. Furthermore, their partner company, Basin Uranium, recently completed the second drill hole at the Mann Lake project (located just 25km from the largest high-grade uranium mine in the world). Samples from this hole are being prepared for chemical assays along with samples from the first hole, so we should be seeing results soon. Besides Mann Lake, $SYH.V is a very impressive company.
- $SYH.V holds nearly 385,934 hectares of land in the Athabasca Basin
- They still have several drilling targets for this year besides the Mann Lake project
- The flagship project, Moore Lake, is especially promising considering the numerous high-grade results, historical exploration, and current 2500m drill program.
Without a doubt, $SYH.V is a well-positioned company in the uranium space. Their numerous projects and strategic partnerships tied with the low valuation and high spot prices make this a very interesting company to watch. With only a $46M market cap, in addition to being oversold with an RSI of just 27, things are starting to get interesting here.
$SYH.V will also be in attendance at booth 604 for the Vancouver Resource Investment Conference on May 17-18 at the Vancouver Convention Centre.
https://ca.finance.yahoo.com/news/skyharbour-resources-ltd-invites-join-210500167.html