24/7 Market News Snapshot 08 January, 2025 – Sky Quarry Inc. Common Stock (NASDAQ:SKYQ)

January 8, 2025

DENVER, Colo., 08 January, 2025 (247marketnews.com) – (NASDAQ:SKYQ) are discussed in this article.
Sky Quarry Inc. (NASDAQ:SKYQ) is witnessing a robust surge in its stock performance, currently trading at $1.538, reflecting a noteworthy increase of 13.09% from the previous close of $1.360. This uptick, accompanied by a substantial trading volume of 987.04K shares, underscores heightened investor interest and a positive sentiment surrounding the company. Market analysts view this momentum as a potential precursor to continued growth and bullish trends in coming sessions, urging investors to watch for key resistance levels and volume dynamics that may signal future breakout opportunities.

Concurrently, Sky Quarry has reached a pivotal milestone in its operational strategy by securing an operational permit from the U.S. Department of the Interior Bureau of Land Management for a new Fractionation Facility at the Eagle Springs Refinery. This facility, covering over 40 acres and valid through December 31, 2055, is instrumental in enhancing production capabilities as the company moves toward its targeted expansion following a comprehensive 2024 capital program.

Marcus Laun, Founder and Director of Sky Quarry, expressed enthusiasm about the developments at the Foreland Refinery, emphasizing the commitment to sustainable practices and operational efficiency. The facility aims to support the company’s growth trajectory with an anticipated output increase projected for 2025, particularly noting its readiness to capitalize on market shifts, including the expected closure of a major regional refinery.

With a strong revenue record of $23 million in the last twelve months, Sky Quarry is strategically positioned to leverage opportunities in the evolving energy market. The integration of the Fractionation Facility with the forthcoming PR Spring hydrocarbon extraction plant further underlines the company’s aim to produce up to one million barrels of sustainable oil annually, reinforcing its dedication to environmental sustainability and resource optimization.

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