LOS ANGELES, CA / ACCESSWIRE / October 31, 2024 / Singular Research is pleased to announce the initiation of coverage on Myriad Uranium Corp. (OTCQB:MYRUF) with a BUY-Venture rating and a price target of $1.35. Myriad's Copper Mountain uranium project has emerged as a high-potential asset in the current uranium market, driven by historical data and recent acquisitions that underscore its growth potential.
Investment Highlights:
Nuclear Industry Resurgence: Uranium prices have climbed from $30 to over $80 per pound in the past two years, supported by global demand for carbon-free energy and constrained uranium supply. This pricing environment strengthens the strategic value of Myriad's portfolio.
U.S. Focus on Uranium Supply Security: The United States has prioritized domestic uranium production, making Wyoming a key area for future investments. Myriad's Copper Mountain project is well-positioned within this critical region for development.Extensive Historical Data with Resource Upside: Myriad holds significant historical data on the Copper Mountain project, including over 2,000 drill holes and resources estimated at 15 to 30 million pounds of uranium. The project presents a strong foundation for continued expansion, with the estimated potential of known deposits and prospects at over 65 million pounds of uranium.
Strategic Project Enhancements through Acquisitions: Recent additions, including the Bonanza Mine and Midnight Prospect, contribute substantial grade and tonnage potential, elevating Copper Mountain's overall value.
Attractive Valuation Relative to Industry Peers: Myriad Uranium is trading at a notable discount to its sector. With a price target of $1.35 based on a conservative valuation of potential reserves, we view MYRUF as offering compelling upside.
Given the favorable uranium market and increasing demand for secure, domestic energy sources, Myriad Uranium stands out as a promising exploration company with significant growth potential. Singular Research's BUY-Venture rating reflects confidence in Myriad's near-term and long-term value for investors.
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SOURCE: Singular Research
