Nov. 17 at 9:07 PM
$SYHBF Posted on Behalf of Skyharbour Resources Ltd - Today, Skyharbour Resources announced it entered a definitive Strategic Agreement with Denison Mines for Denison to acquire initial ownership interests across SYH's Russell Lake Uranium Project in the Eastern Athabasca Basin: https://skyharbourltd.com/news-media/news/skyharbour-enters-into-major-strategic-agreement-with-denison-mines-to-form-four-new-joint-ventures-at-russell-lake-combined-project-consideration-of-up-to-615-million
Notably, the
$61.5M strategic partnership with Denison Mines is an amount approaching the company’s entire market cap, while allowing SYH to retain significant ownership across the Russell Lake Uranium Project.
The agreement both accelerates exploration, with Denison poised to spend roughly
$5.5M per year to earn in, and cashes up SYH to continue advancing high-priority targets where it remains operator, including Moore and two-thirds of the Russell land package where it keeps an 80% stake.