With the uranium spot prices reaching multi-year highs at the moment, probably with the help of the Sprott Physical Uranium Trust which keeps on buying at the spot market in order to kickstart utility buying, Blue Sky Uranium (TSXV: BSK; US-OTC: BKUCF) is finding new mineralization at Ivana targets at their flagship Amarillo Grande uranium project in Argentina.
During times of relative stockmarket unrest, caused by more hawkish Fed policies regarding potential interest rate hikes and reduction of bond buying programs, Blue Sky Uranium (TSXV: BSK; US-OTC: BKUCF) is busy drilling several Ivana targets at their flagship Amarillo Grande uranium project in Argentina.
Where the Federal Reserve has been spooking the markets by more aggressive interest rates than expected lately, leading to a temporary consolidation, general sentiment seems to be picking up again after digesting the Fed scare, despite the new omicron COVID-19 variant developing around the globe, seemingly creating the new pandemic normal now.
Ivana deposit; Rio Negro province, Argentina
Despite the summer doldrums and negative sentiment in mining, the uranium price spiked in September fortunately, and Blue Sky Uranium (TSXV: BSK; US-OTC: BKUCF) didn’t stay behind, as the company diligently continues to advance their flagship Amarillo Grande uranium project in Argentina.
After raising C$0.87M in October of last year, Blue Sky Uranium (TSXV: BSK; US-OTC: BKUCF) has been busy defining drill targets on their fully owned Amarillo Grande Uranium Vanadium project in Rio Negro, Argentina. An 8 kilometre long IP survey has been completed, which identified a 5 km long anomaly 20 km north of the Ivana deposit.
It has been a quiet year so far for Blue Sky Uranium (TSXV: BSK; US-OTC: BKUCF), as the uranium oxide spot prices dropped off again after a run-up in H2 2018, rising almost 50%, only to pull back another 20% or so from these heights as can be seen at this chart, which can be found on the website of Cameco:
Nonetheless, as one of the premier low cost development plays in the uranium space, Blue Sky managed to continue working on their Amarillo Grande project in the Rio Negro province in Argentina, and recently raised fresh cash.
After publishing the results of the Preliminary Economic Assessment (PEA) for its Ivana uranium/vanadium project in Argentina on February 27, 2019, and filing this study recently on April 12, 2019, Blue Sky Uranium (TSXV: BSK; US-OTC: BKUCF) positioned itself immediately as a low cost development play in the uranium mining sector.