Snow Lake Acquires Pine Ridge Uranium Project To Boost US Energy Security: Retail Sentiment Edges Lower As Stock Declines

Snow Lake Resources Ltd. (LITM) announced the acquisition of the Pine Ridge uranium project, giving a boost to the energy sector in the U.S.

Despite this, the stock came under selling pressure on Monday, falling nearly 6% in the regular trading session and extending the losses with a further decline of almost 3% during after-market hours.

The Winnipeg-based uranium exploration and development company announced it acquired the Pine Ridge uranium project in a 50:50 joint venture with Global Uranium and Enrichment Ltd.

The Pine Ridge project is located in the Powder River basin in Wyoming. It is an advanced in-situ recovery project that is primed for development.

Snow Lake CEO Frank Wheatley underscored the Trump administration’s focus on reinforcing the uranium supply chain.

“With the Powder River Basin in Wyoming being one of the preeminent uranium producing regions in the United States, coupled with [the] advanced stage of development of Pine Ridge, we strongly believe that Pine Ridge holds the potential to contribute to U.S. domestic production of uranium,” he said.

However, retail investors on Stocktwits were not as enthusiastic about the company despite the development, with sentiment and message volumes declining over the past day.

LITM sentiment and message volume April 1, 2025, as of 3:30 am ET | Source: Stocktwits

One bullish user tried to maintain optimism, saying the stock could “turn around at some point” after a spate of red days.

However, one bearish user quipped that they wanted to knock the stock down to $0.30 instead of $0.10.

Snow Lake’s stock has declined by more than 46% year-to-date.

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