Report

Ramping Up Activities as AI Sparks Renewed Optimism in the Uranium Sector

Skyharbour Resources Ltd. (TSXV: SYH / OTCQX: SYHBF / FSE: SC1P) is ramping up activities in the uranium sector as demand surges, driven by tech giants like Google, Microsoft, and Amazon securing nuclear power deals to support data center and AI expansion. With uranium supply chains vulnerable, particularly given Russia's dominance in enriched uranium production, the industry anticipates increased M&A activity in 2025. Skyharbour has expanded its portfolio to 10 projects under JV/option agreements, with recent asset sales and ongoing drill programs at its flagship Moore and Russell Lake projects. Notably, a JV with Rio Tinto at Russell Lake has uncovered high-grade zones, while drilling at the Moore project continues to identify significant mineralization, with plans for a maiden resource estimate in 2025. Additionally, option partners are advancing their projects, potentially contributing $52M to Skyharbour if agreements are fulfilled. While uranium prices have softened to US$78/lb, market sentiment remains strong, bolstered by increased holdings of the Sprott Physical Uranium Trust. Key upcoming catalysts include further drilling results, exploration by partners, and new option agreements.
Underlying
Skyharbour Resources Ltd.

Skyharbour Resources is engaged in the acquisition, exploration, and evaluation of mineral resource properties in Canada. Co. is primarily a junior exploration company with no revenues from mineral producing operations. Activities include the process of exploring its mineral properties, reviewing and subsequently acquiring new mineral properties and conducting exploration programs to determine whether these properties contain ore reserves that are economically recoverable.

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Fundamental Research
Fundamental Research

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Analysts
Sid Rajeev

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