Uranium Explorer Powers Higher on Athabasca Basin Update

Skyharbour Resources Ltd. (CVE:SYH), a uranium explorer, moved up after announcing that option partner Azincourt Uranium has provided details for an upcoming exploration program in the Athabasca Basin

Sean Mason | May 10, 2017 | SmallCapPower

A new exploration program in the Athabasca Basin breathed a bit of life into the shares of a uranium explorer Wednesday. Here’s some small stocks making big moves on Wednesday, May 10, 2017 (as of 4 pm EST):

Skyharbour Resources Ltd. (TSXV: SYH) shares climbed 17% to $0.53 on Wednesday after the uranium explorer announced that its option partner Azincourt Uranium has provided details for an upcoming exploration program at the East Preston Uranium Project in the Athabasca Basin. Their exploration program is slated to begin this summer/early fall with the purpose of locating new drill targets that were previously untested and refining other additional targets within the Swoosh corridor.

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As well, shares of Concordia International Corp. (TSX: CXR) slid 30% to $2 as the international specialty pharmaceutical company said its first-quarter revenue fell to US$160.6 million from $228.5 million during the same period last year.

Essential Energy Services Ltd. (TSX: ESN), meanwhile, reported that improved commodity prices and industry optimism continue to support higher oilfield service activity in 2017 compared to 2016. Essential Energy Services stock popped 30% to $0.74 following the announcement.

In addition, shares of Luminor Medical Technologies Inc. (TSXV: LMT) gained 11% to $0.42 as the medical diagnostic company said it has executed a letter of intent to acquire the exclusive Canadian and Jamaican licences for all current and future cannabis commercial products owned by Jamaica BLU Ltd., in consideration for 9.5 million Luminor common shares and $200,000 for intellectual property access.

Finally, Spartan Energy Corp. (TSX: SPE) shares rose 7% to $2.41 after the oil and gas producer/explorer announced record average production in Q1 2017 of 21,455 boe/d, representing an increase of 122% over the first quarter of 2016.

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Disclosure: Neither the author nor any of the principals at Small Cap Power, or their family members, own shares in any of the companies mentioned above.

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