On January 24, 2024, Fiona Harvey with The Guardian reported that uranium prices are expected to break records next year as a result of the global move away from fossil fuels, and initiatives on the part of several countries, including India and China, to bring new reactors online. According to the report, France aims to increase its share of nuclear power.
Interest in nuclear power has been renewed as countries look for power sources that reduce their emissions while keeping up with growing global demand for electrical power.
Earlier this month, on January 15, 2024, Christian Moess Laursen with Wall Street Journal reported that uranium prices were higher than they had been in over 15 years. The jump was prompted by an announcement from Kazatomprom, a nationalized uranium producer from Kazakhstan, that it would not be reaching its production goals for 2024 and 2025.
If major uranium producers continue to struggle to meet demand, it seems clear that prices will continue to skyrocket. Savvy investors may want to keep an eye on uranium stocks for the foreseeable future.
Skyharbour Resources Ltd.
Skyharbour Resources Ltd. (SYH:TSX.V; SYHBF:OTCQX; SC1P:FSE) announced in a press release on January 18, 2024, that it had acquired the Foster property, located in the Athabasca Basin, along with seven other claims in the area, all of which are prospective for uranium, from Eagle Plains Resources Ltd. These acquisitions have expanded Skyharbour’s portfolio by 30,184 acres, and have the potential to bring in new partnerships for the company.
Technical Analyst Clive Maund reviewed the company on January 7, 2024, and commented that he believes the company is at an excellent place for new investors to buy in. Maund commented, “the Accumulation line has held up very well on the correction, almost flatlining, which is bullish.”
A Fundamental Research Corp. report from December 15, 2023, by Siddharth Rajeev rated Skyharbour as a “Buy,” with a target share price of CA$0.53 per share, and a potential return on investment of 119%.
The company’s investor presentation revealed a number of catalysts, including a 5,000m drill program on Russel Lake, and a drill program on the Falcon Uranium Project in Q1 of 2024.
Streetwise Ownership Overview*
Skyharbour Resources Ltd. (SYH:TSX.V; SYHBF:OTCQX; SC1P:FSE)
Refinitiv provided a breakdown of the company’s ownership and share structure, where management and insiders own approximately 2.24% of the company. According to Refinitiv, President and CEO Jordan P. Trimble owns 1.54% of the company with 2.79 million shares, and Director David Daniel Cates owns 0.70% of the company with 1.27 million shares.
Refinitiv reports that institutional investors own 20.06% of the company, as Alps Advisors, Inc., owns 8.39% of the company with 15.19 million shares, Mirae Asset Global Investments (U.S.A.) L.L.C. owns 4.69% of the company with 8.49 million shares, Sprott Asset Management L.P. owns 2.74% of the company with 4.96 million shares, M.M.C.A.P. Asset Management owns 2.02% of the company with 3.66 million shares, Incrementum A.G. owns 1.30% of the company with 2.36 million shares, Vident Investment Advisory, L.L.C. owns 0.34% of the company with 0.61 million shares, D.W.S. Investment GmbH owns 0.33% of the company with 0.60 million shares, and BetaShares Capital Ltd. owns 0.25% of the company with 0.46 million shares.
According to Refinitiv, there are 181.16 million shares outstanding with 176.36 million free float traded shares, while the company has a market cap of CA$68.33 million and trades in the 52 week period between CA$0.32 and CA$0.64.
Tisdale Clean Energy Corp.
Tisdale Clean Energy Corp. (TCEC:CSE) Announced in a press release from December 22, 2023, that it had closed private placement worth CA$775,000, which the company intends to use as general working capital.
Streetwise Reports covered Tisdale Clean Energy Corp. on January 17, 2024, and recommended that investors consider Tisdale’s stock as an opportunity while uranium prices break records.
The company has been covered extensively by analysts, who believe that the company could be a profitable option for investors looking to get in on green energy as governments ramp up efforts to replace fossil fuels.
Analyst Michael Ballinger spoke with Streetwise Reports about Tisdale on January 16, 2024, where he stated that he would consider investing in the company. Ballinger commented, “moving to a micro-cap explorer like Tisdale Clean Energy Corp. takes me out of the CA$90 million market cap… and into a CA$2.9 million market cap in TCEC, a 30-times differential.”
Technical Analyst Clive Maund reviewed Tisdale Clean Energy Corp. positively on January 8, 2024, and commented, “whilst acknowledging that this is a low-priced stock that must be classed as speculative, for those who are comfortable investing and trading in such stocks, it is looking most attractive here and worth going overweight on while it is still at a low price.”
In terms of catalysts, the company is planning a drill program on the South Falcon East uranium & thorium project for 2024.
Streetwise Ownership Overview*
Tisdale Clean Energy Corp. (TCEC:CSE)
Refinitive reported CEO and Director Alex Klenman as the primary investor in the company, with 3.70% in the company and 0.69 million shares. According to Refinitiv, the company has 18.69 million shares outstanding with 18 million free float traded shares, while the company has a market cap of CA$2.63 million and trades in the 52-week period between CA$0.14 and CA$0.73.
Atha Energy Corp.
Atha Energy Corp. (SASKF:OTCMKTS; SASK:CA) recently applied to be listed on the TSXV, and claims to have the Athabasca Basin’s largest land package, totaling 3.8mm acres. On January 17, the company reported the results of its large-scale electromagnetic survey in a press release. Atha stated that it identified six targets across the North Rim, East Rim, and Cable Bay that show evidence of uranium mineralization, and plans on continuing the survey across another 12 projects.
In an interview with Technical Analyst Clive Maund, Streetwise Reports recently listed Atha Energy Corp. as a company to keep an eye on as uranium prices continue to rise. Maund has covered the company extensively as a potential opportunity for investors in the uranium space.
Technical Analyst Clive Maund reviewed the company on December 7, 2023, where he rated the company as a “strong buy here for all timeframes,” and stated that the company is “not regarded as being unduly speculative.” In an examination of the company’s stock patterns, Maund stated, “Today’s volume breakout portends a breakout soon above the nearby resistance leading to an initial run to the higher resistance level shown which it should eventually succeed in breaking above to advance to still higher levels.”
On January 8, 2024, Maund provided an update on Atha, where he reviewed the company positively, and advised investors to “stay long and this is regarded as another good point to buy or add to positions.”
Atha’s investor presentation discusses a number of catalysts, including an expansion project on the company’s Angilak project and the GMZ corridor, and a plan to follow up on drill ready targets in the Athabasca Basin.
Streetwise Ownership Overview*
Atha Energy Corp (SASKF:OTCMKTS;SASK:CA)
Refinitiv provided a breakdown of the company’s ownership and share structure, where management and insiders own approximately 6.86% of the company. According to Refinitiv, Chairman Mike Castanho owns 2.22% of the company with 3.08 million shares, Director Blake Albert Steele owns 2.16% of the company with 3.00 million shares, Director Sean Michael Richardson Kallir owns 1.80% of the company with 2.50 million shares, Director Morgan Tincher owns 0.36% of the company with 0.50 million shares, and Director Jeffrey Barber owns 0.32% of the company with 0.45 million shares.
Strategic investor Timothy A. Young owns 12.67% of the company with 17.57 million shares, while Matthew J. Mason owns 11.63% with 16.12 million shares.
Refinitiv reports that institutional investors own 0.30% of the company in the form of Purpose Investments Inc., which holds 0.41 million shares.
According to Refinitiv, there are 138.61 million shares outstanding, with 95.4 million free float traded shares, while the company has a market cap of CA$120.96 million and trades in the 52-week period between CA$0.77 and CA$1.90.
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Important Disclosures:
- Skyharbour Resources Ltd. and Tisdale Clean Energy Corp. are a billboard sponsors of Streetwise Reports and pays SWR a monthly sponsorship fee between US$4,000 and US$5,000.
- 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.
- Amanda Duvall wrote this article for Streetwise Reports LLC and provides services to Streetwise Reports as an employee.
- This article does not constitute investment advice and is not a solicitation for any investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Each reader is encouraged to consult with his or her personal financial adviser and perform their own comprehensive investment research. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company.
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