Uranium Company Acquires New Claims as World Looks for New Uranium Sources

Skyharbour Resources Ltd. (SYH:TSX.V; SYHBF:OTCQX; SC1P:FSE) has added seven new prospective uranium exploration claims located in Northern Saskatchewan to its portfolio. The company's total land package has expanded to 518,302 hectares across 24 projects. The new claims are 100% owned, and make up 13,945 hectares in and around the Athabasca basin. The company remains focused on its Russell Lake and Moore projects, but these new properties will become a part of Skyharbour's prospect generator business and the company will seek strategic partners to advance these assets.

The claims added to Skyharbour's portfolio are the CBX project, which includes an additional five new contiguous claims totaling 6,804 ha linking the company's former CBX and Snow projects, the Karin project, which includes one additional claim totaling 5,882 ha, and the 914W project, which includes a new claim totaling 1,260 ha.

Jordan Trimble, president of Skyharbour, remarked that " We continue to add to our dominant uranium project portfolio in the Athabasca basin with this recent staking while advancing our core projects through ongoing drilling and exploration. These new mineral claims bolster existing properties and provide additional ground to option or joint venture out to new partner companies as a part of our prospect generator business."

A Bullish Market

The G-7 summit earlier this year led to member nations pledging to take steps to mitigate Russia's dominance of the nuclear fuel market. The effort to dislodge Russia from global supply chains will necessitate increased supplies from elsewhere. According to Richard Mills of Ahead of the Herd, the market for uranium is bullish: "Uranium has found itself in a solid upward trajectory after years of downtrend following the 2011 Fukushima nuclear disaster. Governments are continuing to recognize nuclear power as a crucial solution for decarbonizing the economy, which will further tighten the uranium market that is already undersupplied."

Analysts have maintained a bullish market for uranium. According to analysts with Bank of America, "After a decade of underinvestment, a shortage is visible; our strategists forecast 20-40% upside. Global demand is also rising, with 60 new reactors being built & 100 more approved. Resource nationalism, energy security, war and inflation echo the nuclear build-out of the 1970s/80s."

An Attractive Buy

Skyharbour was rated as a "buy" by a Fundamental Research report. Sid Rajeev, an analyst with Fundamental Research, noted that " Skyharbour has a strong balance sheet, and its in-the-money warrants and options imply it can raise US$5M." Skyharbour's past history of successful expansion and reasonable entry price make it an attractive prospect.

Skyharbour is rated as a "speculative buy" by Red Cloud Securities Inc., with a target price of CA$0.95 per share. According to David A. Talbot with Red Cloud Securities, "upcoming potentially positive catalysts for the company include further drill results from ongoing work at the Moore property, exploration results from Hook Lake and East Preston and positive findings from a potential Moore resource estimate in H2/21."

Ownership and Share Structure

Jordan P. Trimble owns 1.54% of the company with 2.48 million shares, and David Daniel Cates owns 0.77% of the company with 1.25 million shares.

Alps Advisors, Inc., owns 5.74% of the company with 9.28 million shares, Mirae Asset Global Investments (USA) LLC owns 4.63% with 7.48 million shares, Sprott Asset Management LP owns 3.07% with 4.96 million shares, Exchange Traded Concepts, LLC owns 2.62% with 4.24 million shares, MMCAP Asset Management owns 2.26% with 3.66 million shares, Incrementum AG owns 1.44% with 2.32 million shares, Vident Investment Advisory, LLC owns 0.38% with 0.61 million shares, and DWS Investment GmbH owns 0.37% with 0.60 million shares.

The company has approximately CA$7 million in the bank with a burn rate of about CA$125k.

The company reports no potential sellers. There are warrants priced at CA$0.22 that expire at the end of November.

Skyharbour does not work with any influencers or IR firms. Siddarth Rajeev of Fundamental Research Corp. and David Talbot of Red Cloud securities provide analysis of the company. INN, Equity Guru, and Energy & Gold Ltd. all provide news coverage of the company.

There are 161.59 million shares outstanding, with 157.13 free float traded shares. The company has a market cap of CA$42.89 million. It trades in the 52 week period between CA$0.32 and CA$0.56.

Important Disclosures:

1. Skyharbour Resources Ltd. is a billboard sponsor of Streetwise Reports and pays SWR a monthly sponsorship fee between US$4,000 and US$5,000. 
2. As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of Skyharbour Resources Ltd.
3. Amanda Duvall wrote this article for Streetwise Reports LLC and provides services to Streetwise Reports as an employee. 
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