SAN FRANCISCO, May 17, 2019 (GLOBE NEWSWIRE) -- From his office in Vancouver, Jordan Trimble oversees the operation of Skyharbour Resources Ltd.'s (SYH:TSX.V; SYHBF:OTCQB) uranium assets in Saskatchewan's Athabasca Basin—the world's most reliable source of high-grade yellow metal.

Company mentioned: Skyharbour Resources Ltd.

Trimble listed several reasons why Skyharbour chose to take advantage of the downturn in uranium prices by acquiring high-quality Athabasca Basin projects at bargain basement values.

"What's the point of driving a Tesla if you are fueling it with electricity generated from burning coal?"

Trimble explained that the low cost of production in uranium-rich regions such as Kazakhstan has caused the U.S. nuclear reactor industry to import the fuel, further extending the dormancy of the North American uranium mining sector.

Skyharbour acquired its six Athabasca Basin uranium projects with just over $4 million in cash and stock. Skyharbour owns 100% of its flagship, high-grade Moore Uranium Project, completing an earn-in with Denison Mines in August 2018. Denison is a large strategic shareholder of Skyharbour's, and its CEO, David Cates, sits on Skyharbour's Board of Directors.

Moore, located on the southeastern edge of the Athabasca Basin, consists of 12 contiguous claims totaling 35,705 hectares. Over CA$40 million has been invested in 140,000 meters of diamond drilling. The primary focus is the high-grade and relatively shallow Maverick Zone.

Skyharbour reports that upcoming company catalysts for 2019 include further drill results at Moore, as well as additional option and JV deals on its other projects as a part of its prospect generator strategy. 

Continue reading this article: One of the Remaining Active High-Grade Uranium Exploration Companies in Canada Could Benefit from a Rising Uranium Tide

About Streetwise Reports

Streetwise Reports shares investment ideas in many sectors. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.

DISCLOSURE:

The following companies are billboard sponsors of Streetwise Reports: Skyharbour Resources and Energy Fuels. Officers and/or employees of Streetwise Reports (including members of their household) own securities of Skyharbour Resources, a company mentioned in this article.

The full disclosure is provided at the article's end: One of the Remaining Active High-Grade Uranium Exploration Companies in Canada Could Benefit from a Rising Uranium Tide