Skeleton Coast Uranium Corp. (TSXV:SKEL) - 42 Ranked Targets Across Five Namibian EPLs, Led by EPL 8617 - Research Portal

Skeleton Coast Uranium Corp. (TSXV:SKEL) - 42 Ranked Targets Across Five Namibian EPLs, Led by EPL 8617 - Research Portal

Skeleton Coast (SKEL) announced 42 ranked airborne uranium targets, including 13 high-priority targets, based on reprocessed government radiometrics in Namibia's Erongo Region. In the world's third-largest uranium producer, SKEL's ~610 km² package sits within ~30 km of the Rössing, Husab or Langer Heinrich mines, in a district already served by roads, rail, power and the port at Walvis Bay. This is the first new data SKEL has produced, and it focuses the story on EPL 8617, which carries 30 of the targets and 10 of the high-priority ones in a palaeovalley setting near the Valencia deposit. In our view, the focus suits an early-stage explorer with limited cash, and the placement, now repriced to C$0.125 from C$0.15, should fund the next phase of work toward the C$5M earn-in if it closes. There is work to do as none of the 42 targets have yet been ground truthed, and there are few high-priority targets close to Langer Heinrich. For an EV of ~C$4.3M, the market puts little value on district-scale ground in the Erongo corridor; but investors get district scale exposure to the world’s third-largest uranium-producing country, alongside a backer group linked to the UraMin (~US$2.5B, 2007) and Extract (~US$2.4B, 2012) Namibian uranium exits, with EPL 8617 groundwork as the first real test.