The Athabasca Basin from helicopter, Feb 2012. Photo: CEO.CA

This morning Skyharbour Resources announced they have acquired a land package in the Southwestern Athabasca region in close proximity to the Fission/Alpha Minerals discovery.

Shares in the junior exploration company (TSXV:SYH) traded up 10% to six cents by press time.

The company has been around for over ten years but inactive as of late save for a rollback in late 2010 and financing I’m assuming was led by insiders in anticipation of the next idea.

Judging by Alpha Minerals’ recent share price performance, the Patterson Lake South region is not a bad idea.

Knowing the group behind Skyharbour (98 Corporate – see: Bayfield Ventures and Aben Resources), I would assume Marin Katusa, Chief Energy Strategist at Casey Research is also a SYH shareholder (Katusa also manages a hedge fund with some of Rick Rule’s and Doug Casey’s money; he was a vocal supporter of both Bayfield and Aben in late 2010/early 2011 at conferences).

The 98 Corporate Group are excellent communicators and it’s possible they could get some market traction for this small company (~2m market cap at press time).

Seeing as this is an exploration stage company and results are far from assured, speculators who jump on board would be wise to sell early.

NexGen Energy, who have land adjacent to Alpha’s PLS Discovery as well as Hathor’s Roughrider Deposit, should be trading soon. They are in the process of taking over CPC Clermont Capital (Symbol TSXV:XYZ).

I would expect NexGen to debut with a market cap at least 10x that of SkyHarbour’s. It is your author’s opinion that NexGen are the group most likely to make the next uranium discovery in Canada.

The reason for all of this excitement, as outlined last week, is the incredible Ainsworth father and son PLS discovery.

I think Alpha Minerals shares are going to $15 bucks.


Disclosure: As of time of writing, the author has no positions in the companies mentioned. That is subject to change in the future without notice. All information presented is believed to be reliable at the time of publishing. Nothing in this article should be construed as advice or a solicitation to trade any securities. These are opinions alone. We seek safe harbour.