3 Reasons This Uranium Stock Is Moving
Skyharbour Resources (TSX-V: SYH)(OTC: SYHBF) is approaching four-month highs and I can point to a few likely reasons why…
First, uranium spot prices have firmed up at $33 per pound as supply has been taken offline because of COVID-19. Cameco has shuttered Cigar Lake and Kazakhstan is behind on its quotas.
This means more buying in the spot market to fulfill what should be coming from mines and highlights the precarious supply imbalance of the sector.
Second is with a bull market in gold now underway other metals are being looked at as well. Copper prices are up. Rare Earths are back in the news with a $1.5 billion NYSE deal underway. And uranium is a beneficiary of that attention as well.
And specifically with Skyharbour, its partner just announced a summer exploration program at the East Preston Property ahead of the next drill program.
Combined with its other active projects, investors are likely looking to Skyharbour as one of the few uranium companies out there with exposure to multiple uranium exploration assets.
All those assets and the plans for them are covered in our in-depth report on the company, which you can find here.
And outside of uranium, click here to see how our team is positioning for the gold bull market that’s now underway.
Yours in profits,
Editor, Resource Stock Digest