Initiating Coverage
We are initiating coverage of Blue Sky Uranium with a BUY rating and a C$0.15/sh target price. Blue Sky (BSK) is a uranium developer focused on advancing its 100%-owned Amarillo Grande U-V project in Argentina. Amarillo Grande is host to the Ivana deposit, which is a near-surface, open-pit deposit, with an existing I&I resource, surrounding infrastructure, and strong exploration upside potential. In our view, Blue Sky is poised to advance a sizable uranium project that is host to a 145km-long trend and has yet to be extensively explored in an emerging and supportive jurisdiction. It plans to advance Amarillo Grande to Feasibility Study (FS), in partnership with Corredor Americano S.A. (COAM), with the goal of advancing it into the production stage.
