Skyharbour Resources (TSX-V: SYH)(OTC: SYHBF) was just able to attract a C$1.05 million financing from a single strategic investor.
This shows the smart money is continuing to position in the resource sector.
It also means Skyharbour is fully funded for its upcoming 2,500 meter drill program at the flagship Moore high-grade uranium project.
Seven to nine drill holes are planned with the goal of discovering more high-grade, basement-hosted uranium mineralization at the Maverick and East Maverick zones.
It will also drill a blue sky exploration target in the Viper zone, where there’s potential for more mineralization and higher grade pods to be found.
The company is also working on a resource estimate that is due out before the end of the year.
And it has other portfolio projects that are being funded by partners for exploration. Partner company Azincourt will be drilling at Skyharbour’s East Preston project this summer.
And at the Preston project, Orano, which is France’s largest uranium company, is exploring and advancing with news from a field program due out soon.
That is a ton of value in a uranium company with a C$15 million market cap, still trading around C$0.15 per share. Especially with uranium supply in danger because of COVID and spot prices holding above $30 per pound.
No wonder that strategic investor wanted to put a million bucks in.
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