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SYHBF is a Panzer Pick to Click!
Time to buy Uranium!
Excellent! SYHBF TIME!
Time to load up Uranium play!
Why Uranium spiked today
Cameco’s announcement to shut down the McArthur River mine, is big catalyst for the uranium sector. This is the world’s largest operating uranium mine, ~10% global production, coming offline. Much bigger news than when Cameco’s Cigar Lake mine flooded in 2006 (at the time that was development stage) but that was the beginning of a major uranium rally. No mine on the planet can make money at $20/lb. uranium, and this announcement is the ultimate validation of this point. The McArthur River Mine and Key Lake Mill complex are collectively the world’s largest uranium operation and a shutdown of this magnitude cannot be over-emphasized.
The impact on spot uranium prices was volatile today and immediate today.
Also, Westinghouse has just announced that they they have reached a deal to sell six AP-1000 reactors to China.
Note that the offer price on UxC BA is now over $23.00 USD.
Should be interesting tomorrow. and over the next few days.
$SYHBF
Know what you own: Best SYHBF Interview I have listened to
It is long, but great DD for those that are interested.
https://www.twitch.tv/videos/148810398?collection=ISd5tlftthRC7A
CEO Interview: “We’re in the Early Days of a Uranium Market Recovery”
Industry Experts Optimistic About Uranium Market
http://investingnews.com/daily/resource-investing/energy-investing/uranium-investing/experts-optimistic-uranium-market/
Stock Catalyst Report on SYBH
The Sky’s the limit for this under-the-radar Athabasca Basin Junior Explorer
http://docs.wixstatic.com/ugd/a2e87b_7a65c3baf6a44c23badc0b0f13af3033.pdf
http://www.thestockcatalystreport.com
R.Rule: "last bottom bought 5 juniors ,worst return of those was 22x his money"
From last weekend’s conference in Vancouver. Let’s see where the bottom for Uranium spot price really is. Skyharbour received great visibility there https://metalwriters.com/e/international-metal-writers-conference-68 and continues to deliver on their plan and positive drilling results.
Jordan Trimble Retweeted
deepvalbuyer? @FootnotesFirst May 28
More
Rick Rule at Conf hosting uranium panel "last bottom bought 5 juniors ,worst return of those was 22x his money"
https://twitter.com/JordanPTrimble
Spot Uranium prices have taken a dive
http://www.economiccalendar.com/2017/05/31/spot-uranium-prices-take-a-dive/
SYHBF CEO Radio Interview: Exceeded Expectations and Next Steps
http://resourcestockdigest.com/archives/index.php?content_id=5229
Some highlights:
“it's going to be an exciting time in the next couple of months. Your model thus far, it seems to be holding up. “
“Well, obviously Moore is the flagship and deservedly so, the results speak for themselves, but you do have other irons in the fire. I know you recently announced that your partner on the East Preston uranium property, your partner Azincort, has announced a summer/fall program if I'm not mistaken.”
“They're going to be starting their exploration programs this summer, as you saw the news from Azincourt. AREVA, as well, planning exploration for this year, so it's good to note that it's not just about our drilling at Moore. That's obviously the flagship. That will be the main catalyst for the company but we have several irons in the fire. We'll be using this prospect generator model on our secondary projects like Preston. We have partner companies coming, spending the money, carrying out the exploration. We'll benefit from the news flow from that, so for the remainder of this year you have drilling that we'll be carrying out at Moore, but you'll also have exploration that Azincourt and AREVA will be carrying out as well, so you'll have lots of news flow from three programs for the remainder of the year, which I think the market will react positively to.”
“There's also a lot happening on the macro side of things with uranium right now. We've spoken about this is the past but just about a month ago you had the World Nuclear Fuels Conference in Toronto. Kazakhstan, there's talks there of an additional cut in production, which would be, we saw the impact that had in the market back in January and February of this year, so if we do see additional cuts from Kazakhstan, that'll be very positive. We also have Japan, the nuclear restarts there. The two Takahama reactors, fuel being loaded into those reactors, expecting those to come online shortly.”
“Denison Mines is our largest strategic shareholder. They actually put some more money in this recent financing we just closed. As I mentioned, the strategic partnership with them, with Moore being on the east side near Wheeler. David Cates, the President and CEO on our board. Marin Katusa, the KCR Fund, has been a cornerstone investment for us for years now. Another contrarian like yourself. We've had a few institutional investors funds out of China, the US, Canada, in this recent financing that we just closed. Jeff Phillips, who you know quite well, down in San Diego. A few other notable names in the industry. So it's important to have, obviously, a strong management and technical team as we do, Rick Kusmirski, being our head geologist. Radioactive Rick as we call him, previously with Cameco and then sold his company, JNR, to Denison a few years back, and then he came on with us at Skyharbour. But it's also important to have long-term shareholders who understand the industry, who are value add, and we have that at Skyharbour.”
News: Skyharbour Intersects High Grade Uranium in Multiple Drill Holes Including 9.12% U3O8 over 1.4m at Newly Discovered Maverick East Zone as well as 5.29% U3O8 over 2.5m at Main Maverick Zone on the Moore Uranium Project
May 23, 2017
Highlights:
• Hole ML-202 at the Maverick East Zone returned 1.79% U3O8 over 11.5 metres from 266.0 to 277.5 metres downhole including 4.17% U3O8 over 4.5 metres and 9.12% U3O8 over 1.4 metres; this is a newly discovered high grade mineralized lens on the Maverick corridor and illustrates the strong discovery potential of additional high grade lenses along strike.
• Hole ML-208 at the Main Maverick Zone returned 2.25% U3O8 over 3.0 metres from 266.8 to 269.8 metres.
• Previously reported drill hole ML-199 at the Main Maverick Zone intersected high grade uranium mineralization containing 6.0% U3O8 over 5.9 metres, from 261.6 to 267.5 metres depth including 20.8% U3O8 over 1.5 metres from 264.0 to 265.5 metres.
• This first phase drill program totaled 5,450 metres in 15 holes testing the Maverick corridor; the known unconformity-hosted high grade mineralization at the Maverick corridor is relatively shallow at 250 metres to 275 metres vertical depth.
• Only 1.5 kilometres of the total 4 kilometre long Maverick corridor have been systematically drill tested leaving robust discovery potential along strike as well as at depth in the underlying basement rocks which have seen limited drill testing historically.
• Given the success of the first phase of drilling at Moore, planning is currently underway for a summer drill program with news and details forthcoming; the Company is fully funded for this upcoming drill program with over $3.7 million in the treasury.
Jordan Trimble, President and CEO of Skyharbour Resources, states: "The first phase of drilling at Moore has far exceeded our expectations and we will be commencing a summer drill program in the coming months to follow up on these results. The presence of shallow, high grade uranium mineralization in seven of the fifteen holes is very encouraging not to mention that all of the holes drilled to target intersected uranium mineralization in this program. We are discovering new, high grade mineralized lenses along strike from the Main Maverick Zone which clearly illustrates the robust, underlying geological potential of the Moore Project. The Maverick corridor is over 4 kilometres long yet only 1.5 kilometres have been systematically drilled with most of this drilling and known high grade uranium hosted at or near the unconformity leaving strong discovery potential along strike but also at depth in the basement rocks. The Company is fully funded to complete multiple future drill programs, including the upcoming summer program, which will provide ample news flow for the remainder of the year as we continue to value-add the project using a systematic and proven exploration methodology augmented by innovative field techniques and new geological analyses."
http://skyharbourltd.com/news-media/news/news-display/index.php?content_id=550
Yes. A few folks (Included myself) have been accumulating more over the last few weeks.
$SYHBF
News: Skyharbour Announces and Closes $600,000 Private Placement of Flow-Through Shares
http://skyharbourltd.com/news-media/news/news-display/index.php?content_id=549
May 16, 2017
Vancouver, BC - Skyharbour Resources Ltd. (TSX-V: SYH) (OTCQB: SYHBF) (Frankfurt: SC1P) (the “Company”) announces that it has arranged and closed a non-brokered private placement of 1,000,000 flow-through shares (the “FT Shares”) at a price of CAD $0.60 per FT Share, for total gross proceeds of CAD $600,000. A strategic, institutional investor subscribed for the full amount of the financing.
Skyharbour intends to utilize the proceeds from this private placement for exploration and diamond drilling at the Moore Uranium project. The Company is fully funded for multiple upcoming diamond drill programs at its flagship Moore Uranium project located on the southeast side of the Athabasca Basin proximal to regional infrastructure, as well as nearby development projects and producing mines.
In connection with the financing, Skyharbour issued a total of 70,000 warrants to finders (the “Finder’s Warrants”) who introduced certain subscribers to the private placement. Each Finder's Warrant will entitle the finder to purchase one additional common share for two (2) years at a price of CAD $0.75 per common share. The Company also paid to finders a total of CAD $42,000 in cash fees associated with this financing. The private placement is subject to TSX Venture Exchange approval, and all securities are subject to a four-month hold period.
Further, the Company announces an amendment to the amount of finders fees paid pursuant to the financing closed on April 18, 2017. The Company issued an aggregate of 127,322 Finder’s Warrants and paid a total $85,948.30. Details of the Finder’s Warrants can be found on the Company’s news release issued April 18, 2017.
SYHBF CEO Interview: Uranium Exploration and Opportunity in the Athabasca Basin
http://palisaderadio.com/jordan-trimble-uranium-exploration-and-opportunity-in-the-athabasca-basin/
Syhbf is a sneaky one. Hard to figure out what they're up to.
SYHBF News! Skyharbour Option Partner Azincourt Announces Upcoming Exploration Program at East Preston Uranium Property
http://www.otcmarkets.com/stock/SYHBF/news/Skyharbour-Option-Partner-Azincourt-Announces-Upcoming-Exploration-Program-at-East-Preston-Uranium-Property?id=158608
News: Skyharbour Option Partner Azincourt Announces Upcoming Exploration Program at East Preston Uranium Property
http://skyharbourltd.com/news-media/news/news-display/index.php?content_id=548
Highlights:
• Azincourt may earn a 70% interest in East Preston totaling 25,329 hectares, which represents the eastern region of the larger 107,278 hectare Preston Project through the upfront issuance of 4,500,000 shares as well as $3,500,000 of total project consideration over three years, including up to $2,500,000 of exploration work programs and $1,000,000 of cash payments to Skyhabour and Clean Commodities to be split equally.
• If carried to completion, a tripartite joint venture would be formed being 70% as to Azincourt and 30% as equally divided between Skyharbour and Clean Commodities.
• Azincourt’s initial exploration program is budgeted at $250,000 and is being planned for completion by the fall of 2017 to allow for future winter drill target testing.
• The Preston Uranium Project is one of the largest tenure positions in the Patterson Lake region and currently consists of 107,278 hectares strategically located near NexGen Energy Ltd.’s high-grade Arrow deposit hosted on its Rook-1 property and Fission Uranium Corp.’s Triple R deposit located within their PLS Project area.
• In addition to the Azincourt Agreement on the Preston East Property, Skyhabour recently announced that it signed an option agreement with AREVA Resources Canada whereby AREVA may earn up to a 70% interest in a separate 49,635 hectare portion of the Preston Project.
Some big volume today and the pps is heading down. Any news we missed?
What does that mean?
Small Company Offering and Sale of Securities Without Registration (d)
Good stuff.... Very positive things happening for Skyharbour.
Uranium Prices: Will Europe Warm Up to Nuclear Power?
http://www.economiccalendar.com/2017/04/19/uranium-prices-will-europe-warm-up-to-nuclear-power/
“A report published this week by Foratom, the European nuclear trade body, on the European Commission’s ‘Clean Energy for All Europeans’ package of measures for a clean energy transition, said that the EU’s aim to decarbonise the economy by more than 80% by 2050 cannot be achieved without nuclear power.”
“While China alone can power significant growth in the nuclear power market, if Europe decides to join in, the outlook for uranium will improve even further.”
Skyharbour now fully funded for uranium drilling program
http://www.stockhouse.com/news/newswire/2017/04/19/skyharbour-now-fully-funded-for-uranium-drilling-program#gChZx70eAZdZpDsL.99
CEO Interview @resourcestockdigeste
Filling in the details . . . nice addition to yesterday's news
http://resourcestockdigest.com/archives/index.php?content_id=4981
ONCE IN A LIFETIME!... That's the way I see the SYHBF opportunity.
Yes, even more bullish are some of the statements below.
The drilling campaign continues to do well.
Skyharbour Closes Non-Brokered Private Placement of Over $2.1 Million
http://skyharbourltd.com/news-media/news/news-display/index.php?content_id=547
“The Company’s President and CEO, Jordan Trimble, stated: “We are pleased to close this financing with several new institutional investors as well as our largest strategic shareholder, Denison Mines, participating in the private placement. The Company is well positioned financially with over $3.7 million in its treasury to fund the planned and upcoming drill programs at its flagship Moore Uranium Project. Given the previously reported high grade drill results from our winter 2017 program, we are already planning a summer drill program as we await final geochemical assay results for the final ten drill holes. The Company will also benefit from news flow from upcoming exploration programs being planned with strategic partners AREVA Resources Canada and Azincourt at the Preston Uranium project, in addition to future cash payments from the partner companies to Skyharbour as per the respective option agreements. Skyharbour continues to execute on its business model by adding value to its project base in the Athabasca Basin through focused mineral exploration at its flagship Moore Uranium Project, as well as utilizing the prospect generator model to advance its other projects with strategic partners.””
“The recently completed winter drill program was originally budgeted for 3,500 metres but was increased to 5,500 metres in light of the early drilling success and operational efficiencies. The Company is awaiting the geochemical assay results for the final ten drill holes from this phase 1, 2017 winter drilling program program.”
“Given the high grade uranium mineralization intersected in the drill program and the encouraging visual indicators and elevated radioactivity in the final drill holes (assays pending), Skyharbour is currently planning a 2017 summer diamond drilling program to follow up on the successful phase one results. More news will be forthcoming on the planned summer program, as well as future drilling campaigns.”
SYHBF just announced another private placement over $2Mil. Looks like Big money continues to flow into this company. Very bullish sign.
Perry orders grid plan to boost coal, nuclear
http://www.washingtonexaminer.com/perry-orders-grid-plan-to-boost-coal-nuclear/article/2620453?custom_click=rss
Yes, I attended the Vancouver Resource Investment Conference 2017 which is co-produced by Katusa Reseach
http://cambridgehouse.com/event/54/vancouver-resource-investment-conference-2017
That is one of the reasons I am here. Most of the players like Katusa were high on the mid- and long-term play on uranium. SYHBF and UEC should both do well; but currently, I like the multiple potential on SYHBF better. I have met Amir Adani the CEO of UEC several times and I have made some nice returns on his other company last year. He is setting up UEC for a nice run in the near future and has major US Government players and Private Investors on his side. SYHBF will follow.
$SYHBF
Here's another one https://smallcappower.com/top-stories/marin-katusa-junior-gold-stocks/
Marin Katusa said he owns only two uranium stocks.
Mr. Katusa also owns shares of Skyharbour Resources Ltd. (TSXV: SYH), which secured an option to acquire Denison Mines’ Moore Lake project on the southeastern side of the Athabasca Basin. He thinks the stock will have a “big run.”
SYHBF has Many BIG MONEY Backers!
... Soon it will be Over $1.00.
.
.... Better Buy these cheapies now! SYHBF Is going to $1.00 Land & above!
Uranium is starting to rally. Keep an eye on URA and that will show you where SYHBF is headed. UP UP UP.
Uranium Is Finally Taking off in 2017
By Byron King
Posted
April 10, 2017
Uranium Is Finally Taking off in 2017
The uranium sector is beaten down. It crashed hard six years ago, right after the nuclear disaster at Fukushima, Japan, in March 2011. After Fukushima, uranium miners, processors and nuclear equipment makers sold down and have pretty much stayed down.
However, the uranium industry has just begun to turn around. You may have even heard about it in the news lately. The takeaway, however, is that we currently have an open window to get into the uranium space near the bottom.
Uranium is critical to running the world. In many countries, it literally keeps the lights on. There’s an entire investment space devoted to uranium production and associated companies that process “yellowcake” — uranium oxide — to move it through the industrial cycle. Uranium is the foundation to a multibillion-dollar global industry with immense investment promise.
During its last two boom cycles, in 2004–07 and 2009–2011, early investors could have seen gains around 600% and 185%, respectively.
There are three big reasons that uranium is set to turn around. The first is an increase in demand for nuclear power.
500 More Nuclear Plants
Although uranium hasn’t been in the investment limelight lately, nuclear power is significant. According to the World Nuclear Association (WNA), 440 nuclear power reactors operate today in 31 countries, with a combined capacity of over 385 gigawatts of electric capacity (GWe).
In 2014, these units provided 2,411 billion kilowatt hours (kWh), or over 11% of the world’s total electricity. As recently as 2015, says the Nuclear Energy Institute, “13 countries relied on nuclear energy to supply at least one-quarter of their total electricity”.
Nuclear Energy locations with Uranium
This represents just the existing demand for nuclear power; it’s the day-to-day “load” on the global grid. However, I recently met with key players in the energy space, including Spencer Abraham, former U.S. senator (R-Michigan, 1995–2001) and secretary of energy (2001–05). At a dinner, I sat next to Secretary Abraham for about two hours, discussing politics, energy policy and uranium.
I also had a long discussion with an individual whose professional career has been involved working with major uranium mining companies and nuclear-based electricity generators.
Byron King with former U.S. Senator and Secretary of Energy Spencer Abraham.
Later in his career, this individual advised both the U.S. and Russian governments on uranium, up to and including respective national policy that affected weapons-grade material. He’s highly knowledgeable about uranium production and pricing from sources as far afield as Kazakhstan, Australia, Canada, the U.S. and nations in Africa.
After meeting with these energy insiders, it is clear that nuclear power is increasingly coming back into demand as a global source of energy. Across the world, many nuclear plants are under construction, in design or being planned at early stages.
Most new-build reactors are sited in Asia, particularly China, South Korea and India, all with fast-growing economies and rapidly rising electricity demand.
Dovetailing the Asian buildout, many countries with existing nuclear power programs (Argentina, Armenia, Brazil, Bulgaria, China, the Czech Republic, India, Pakistan, Romania, Russia, Slovakia, South Korea, South Africa, the UAE, Ukraine, the U.K., the U.S.) plan to construct new nuclear reactors over and above beyond those now under construction.
In all, according to WNA, over 160 reactors are planned with a total net capacity of some 182 GWe; over 300 more are proposed. The primary reasons for this increasing demand are energy security concerns, uncertainty about future access to carbon-based fuel and overall greenhouse gas constraints on carbon burning — combined with basic economics. This has “put nuclear power back on the agenda for projected new capacity in many countries.”
Kazakhstan Tightens Supply
As more nuclear plants are built, the plant operators must lock in the source of their uranium for decades to come. The plants themselves may take 10–20 years to plan, design and construct, and then they have a service life of 50–75 years or more. It’s a multigenerational commitment.
All existing nuclear plants, and the utility companies that own and operate them, already have firm contracts in place to lock up future supplies of uranium fuel. These decades-long contracts are with big-name uranium producers.
On occasion, however, utility companies may require additional supplies of uranium fuel, maybe for technical reasons. In that situation, they’ll buy uranium on the “spot” market.
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During the past six years, many Japanese utilities didn’t need uranium they had coming in under long-term contracts, because they had shut down all their nuclear plants after Fukushima. Some of this unneeded uranium found its way back onto the spot market due to resale by Japanese middlemen.
As with any commodity, a glut in supply drove down prices. This contributed to a depressed uranium space, which helped drag down share prices of many primary uranium producers.
In addition, the world’s single largest national uranium producer is the nation of Kazakhstan. It inherited a massive nuclear complex after the Soviet Union collapsed.
For several years, Kazakh miners went all out with mining and processing, and the country’s overseeing agency, Kazatomprom, sold the material. This contributed to the global glut of yellowcake and processed uranium — and led to historically low prices for uranium and miners.
But this past January, the Kazakh government made a critical decision. Rather than continue mining the country’s uranium to sell at a depressed price, the Kazakh government ordered Kazatomprom to scale back on output by 10%. This reduces the quantity of uranium available for export sale and tightens global supply.
“Kazakhstan controls about 40% of the overall global market for uranium,” writes Michael Ambrozewicz at Seeking Alpha, “so the 10% cut amounts to approximately a 3% reduction in global uranium supply.”
News of the Kazakh government’s new, restrictive uranium export policy hit global markets like a bombshell. Within hours, uranium spot prices began to creep up, while share prices of many listed uranium companies began to rise.
After seeing this recent growth, you might be wondering if it’s too late to get into the uranium market… But there’s another signal we’re seeing that tells us now is the perfect time to get in the game.
Uranium — Follow the Institutional Money
At one point in time, the U.S. was nearly self-sufficient in uranium. But today — after many years of U.S. environmental regulation and general anti-industry and anti-nuclear sentiment — the U.S. imports over 90% of the uranium it uses in its nuclear plants.
President Trump is focused on reducing the U.S. trade deficit and creating jobs. Uranium imports involve billions of dollars in trade flows and tens of thousands of potential jobs in the uranium industry.
Maria Korsnick, president and chief executive officer of the Nuclear Energy Institute, said in a recent interview that (as Bloomberg put it) “Trump will throw more support behind nuclear power than the Obama administration, which gave a higher priority to wind and solar power.”
In addition to increasing global demand and tightening global supply, President Trump will likely move the U.S. toward a more national-oriented uranium supply policy, which will benefit any well-run U.S. producer.
Investment professionals see this already. Trading volumes have increased as institutional money moves into the uranium space. Luckily for us, retail investors have not quite caught the bug yet.
The Safest Way to Play Uranium
Uranium has been beaten down for so long that many investors are skeptical of today’s rising prices. But we’re just at the beginning of a tightening in uranium supply. (Kazakh officials have already signaled that they like getting paid more for producing less.)
We expect prices to rise as more and more nuclear power plants are built and contracts for future uranium supplies are locked in. That’s why you need to invest now, before most retail investors catch up.
Regards,
Byron
It's about to get crazy in the URANIUM sector!... I anticipate ALL GOOD.
The High-Court in Japan Orders a Restart on 2 Nuclear Reactors
https://www.theguardian.com/environment/2017/mar/28/japanese-nuclear-industry-court-injuction-takahama-greenpeace
The above, combined with anything positive for the nuclear industry over the next couple of weeks coming from the following meeting may give us the push we need:
Global nuclear safety meeting under way
http://www.world-nuclear-news.org/RS-Global-nuclear-safety-meeting-under-way-2803178.html
CEO Interview: SYHBF Continues to make deals
http://resourcestockdigest.com/archives/index.php?content_id=4840
$2,000,000 Private placement for SYHBF.
This is about to heat up big time.
Wheelin and dealin! Skyharbour is really making some strong solid moves! This is about to get Very interesting!! BUY, BUY, BUY!!!
News: Partnership with Azincourt Uranium
Skyharbour Signs Option Agreement with Azincourt Uranium to Option 70% of the East Preston Uranium Property for $3,500,000 in Project Consideration and 4,500,000 Shares
Skyharbour’s President and CEO, Jordan Trimble commented: “Skyharbour continues to execute on its business model by adding value to its project base in the Athabasca Basin through focused mineral exploration at its flagship Moore Uranium Project as well as utilizing the prospect generator model to advance its other projects with strategic partners. We are excited to have the opportunity to work with a new partner in Azincourt led by a dynamic management and technical team. This Agreement also complements the recent option agreement signed with industry-leader AREVA Resources Canada and together the two option agreements combine for $9,800,000 in total exploration expenditures over six years, as well as $1,700,000 in total cash payments and the issuance of 4,500,000 shares of Azincourt split between Skyharbour and Clean Commodities in return for 70% interests in the respective property areas.
http://skyharbourltd.com/news-media/news/news-display/index.php?&content_id=543
Excellent article!
I haven't seen this one. Thanks.
$SYHBF
There seem to be an increasing number of potential catalysts coming to the forefront for the uranium sector. I think very soon after this minor pullback in uranium prices we will see a great surge that will mark the beginning of a major bull run for the sector.
SYHBF will benefit greatly from this movement.
.
Nuclear ‘Batteries’ for Towns and Industry...
https://www.bloomberg.com/news/articles/2017-03-22/uranium-battery-for-town-and-industry-is-urenco-s-nuclear-vision
Uranium Price: Will US Demand Growth Provide More Support?
http://www.economiccalendar.com/2017/03/21/uranium-price-will-us-demand-growth-provide-more-support/
New Nuclear Reactors Could Soon Be Built In Kentucky
http://dailycaller.com/2017/03/20/new-nuclear-reactors-could-soon-be-built-in-kentucky/#ixzz4c1mkhkWF
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Fission Uranium Corp. (TSX-V: FCU)
Cameco Corporation (TSX: CCO)
Denison Mines Corp. (TSX: DML)
AREVA SA (AREVA.PA)
Nexgen Energy (TSX: NXE)
Vancouver, BC - Skyharbour Resources Ltd. (TSX-V: SYH) (OTCQB: SYHBF) (Frankfurt: SC1P) (the “Company”), in conjunction with Preston Uranium Project partner Clean Commodities Corp. (“Clean Commodities”) (TSX-V: CLE), is pleased to announce the signing of a binding term sheet (the “Term Sheet”) with a uranium company (the “Partner”) which provides that the parties will work to negotiate a definitive option agreement that, if entered into by March 15th, 2017, would provide the Partner an option to acquire up to a 70% working interest in a portion of the Preston Uranium Project (the “Preston Segment”). In consideration for the 70% interest, the Partner would be required to spend up to CAD $8 million consisting of cash payments to the Company and Clean Commodities and accelerating exploration programs.
Preston Uranium Project Claims Map:
http://skyharbourltd.com/_resources/maps/SYH_Patterson_Lake_Area_Promo_20161212_blue_hi_res.pdf
Skyharbour’s President and CEO, Jordan Trimble commented: “We are very pleased and excited to have the potential opportunity to work with a new partner to further advance the central portion of the Preston Uranium Project. The Preston Project is a strategic, district-scale property with robust exploration upside potential throughout and is located near recent high grade discoveries in the Patterson Lake area including NexGen’s Arrow deposit, Fission’s Triple R deposit, and the Spitfire discovery. The signing of this Term Sheet is a significant milestone for Skyharbour as the Company continues to value-add its project base in the Athabasca Basin through focused mineral exploration as well as the prospect generator model and associated strategic partnerships.”
Highlights of the Binding Term Sheet:
Preston Uranium Property Map and Regional Exploration Corridors:
http://skyharbourltd.com/_resources/SYH_Regional_Corridors.jpg
The significant potential of the Western Athabasca Basin has been highlighted by recent discoveries in the area by NexGen Energy Ltd. (Arrow), Fission Uranium Corp. (Triple R) and a joint-venture consisting of Cameco Corporation, AREVA Resources Canada Inc. and Purepoint Uranium Group Inc. (Spitfire). Through its involvement in the Western Athabasca Syndicate and the Preston Uranium Project, the Company has been involved in a large regional exploration program in the relatively under-explored southwestern side of the Athabasca Basin since 2013. In excess of $4.7 million in expenditures on the Preston Uranium Project have been incurred to-date including ground gravity, airborne and ground EM and magnetics, radon, soil, silt, biogeochem, lake sediment, and geological mapping surveys, as well as two exploratory drill programs. Fifteen high-priority drill target areas associated with six prospective exploration corridors have been successfully delineated through this methodical, multi-phased exploration initiative which has culminated in an extensive, proprietary geological database for the project area.
The Term Sheet was signed by all parties on December 14th, 2016 and represents an arm’s length transaction with no finder’s fees being paid.
Qualified Person:
The technical information in this news release has been prepared in accordance with the Canadian regulatory requirements set out in National Instrument 43-101 and reviewed and approved by Richard Kusmirski, P.Geo., M.Sc., Skyharbour’s Head Technical Advisor and a Director, as well as a Qualified Person.
About Skyharbour Resources Ltd.:
Skyharbour holds an extensive portfolio of uranium and thorium exploration projects in Canada's Athabasca Basin and is well positioned to benefit from improving uranium market fundamentals with five drill-ready projects. In July 2016, Skyharbour acquired an option from Denison Mines to acquire 100% of the Moore Lake Uranium Project which is located 20 kilometres east of Denison’s Wheeler River project and 39 kilometres south of Cameco’s McArthur River mine. Moore Lake is an advanced stage uranium exploration property with over $30 million in historical exploration, 370 diamond drill holes, and a high-grade uranium zone known as the Maverick Zone with drill results including 4.03% eU3O8 over 10 metres at a vertical depth of 265 metres. The Company owns a 100% interest in the Falcon Point (formerly Way Lake) Uranium Project on the eastern perimeter of the Basin which hosts an NI 43-101 inferred resource totaling 7.0 million pounds of U3O8 at 0.03% and 5.3 million pounds of ThO2 at 0.023%. The project also hosts a high grade surface showing with up to 68% U3O8 in grab samples from a massive pitchblende vein, the source of which has yet to be discovered. Skyharbour also has a 50% interest in the large, geologically prospective Preston Uranium Project proximal to Fission Uranium’s Triple R deposit as well as NexGen Energy’s Arrow deposit. The Company’s 100% owned Mann Lake Uranium project on the east side of the Basin is strategically located adjacent to the Mann Lake Joint Venture operated by Cameco, where high-grade uranium mineralization was recently discovered. Skyharbour’s goal is to maximize shareholder value through new mineral discoveries, committed long-term partnerships, and the advancement of exploration projects in geopolitically favourable jurisdictions.
Skyharbour’s Uranium Project Map in the Athabasca Basin:
http://skyharbourltd.com/_resources/SYH_Landpackage_2014.jpg
To find out more about Skyharbour Resources Ltd. (TSX-V: SYH) visit the Company’s website at www.skyharbourltd.com.
SKYHARBOUR RESOURCES LTD.
“Jordan Trimble”
Jordan Trimble
President and CEO
For further information contact myself or:
Nick Findler
Corporate Development and Communications
Skyharbour Resources Ltd.
Telephone: 604-687-3850
Toll Free: 800-567-8181
Facsimile: 604-687-3119
Email: info@skyharbourltd.com
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.
This release includes certain statements that may be deemed to be "forward-looking statements". All statements in this release, other than statements of historical facts, that address events or developments that management of the Company expects, are forward-looking statements. Although management believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results or developments may differ materially from those in the forward-looking statements. The Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change. Factors that could cause actual results to differ materially from those in forward-looking statements, include market prices, exploration and development successes, continued availability of capital and financing, and general economic, market or business conditions. Please see the public filings of the Company at www.sedar.com for further information.
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