Kevin Feeney • 13 Comments
Jan. 12, 2015, 7:14 PM
- Fission Uranium's (OTCQX:FCUUF) "truly phenomenal" resource estimate for its PLS deposit has rekindled takeover speculation about the company, and CEO Dev Randhawa says investment bankers already have set up a data room for potential bidders.
- Fission said late Friday the deposit contains an estimated 105.5M lbs. of uranium resources, with more than half of the resource comprised of a high-grade zone that could potentially be mined at very low costs; the discovery is smaller than Saskatchewan's McArthur River and Cigar Lake mines, analysts say it compares favorably to everything else in the province.
- Fission needs the help of a major company for actual development into a mine; Cameco (NYSE:CCJ), Rio Tinto (NYSE:RIO) and France Areva are sometimes mentioned, but since the discovery is shallow and could be mined as an open pit, the CEO thinks it may draw interest from more general buyers such as Teck Resources (NYSE:TCK) that have no history in the region.
Sep. 3, 2013, 5:32 PM
- Fission Uranium (FCUUF.OB) agrees to acquire Alpha Minerals (ESOFF.PK) for $185M in stock, attempting to create a potential takeover target that could appeal to a larger producer such as Cameco (CCJ) or Areva (ARVCF.PK).
- The junior miners have been releasing impressive drilling results from their Patterson Lake South project in Saskatchewan's Athabasca Basin.
Mar. 29, 2013, 6:39 AM
The owners of Urenco, the world's second-largest nuclear-fuel maker, are looking to sell the company in a deal that could be worth €8-12B. Potential suitors reportedly include, Canadian uranium processor Cameco (CCJ) and P-E firms Carlyle (CG), KKR, and Blackstone (BX), with the bidders expected to form consortia because of the size of the transaction. Urenco's owners comprise the U.K. and Dutch governments, and German energy utilities E.ON and RWE.| Mar. 29, 2013, 6:39 AM | 1 Comment
Jan. 16, 2013, 2:49 PM
Among the Fission Energy assets being acquired by Denison (DNN +3.4%) is a 60% stake in the Waterbury Lake uranium project, part of a deposit attached to Rio Tinto’s (RIO -1.9%) Roughrider deposit - which Cantor Fitzgerald says "ties a neat bow on top of Denison for a potential takeout offer" from RIO. The analyst also considers Cameco (CCJ -1.2%) a potential source of a competing offer for Fission.| Jan. 16, 2013, 2:49 PM
Jan. 9, 2013, 10:56 AM
Cameco (CCJ +0.8%) says it obtained all required regulatory approvals and completed the acquisition of NUKEM Energy, one of the world's leading traders and brokers of nuclear fuel products and services. CCJ paid €107M ($140M) and assumed NUKEM's net debt, reduced to ~€84M ($111M) since the deal was announced in May.| Jan. 9, 2013, 10:56 AM | 1 Comment
Aug. 27, 2012, 7:46 AMBHP continues to play defense, selling its Australian uranium assets to Cameco (CCJ) for $430M. "We can't pursue all of the growth operations that are before us," says a BHP spokesman. Cameco, on the other hand, has a more optimistic outlook for uranium in the wake of Fukushima than does BHP. (PR) | Aug. 27, 2012, 7:46 AM | 1 Comment
May 23, 2012, 9:19 AM
Uranium giant Cameco's (CCJ) planned effort to raise as much as $1B through a combination of securities may signal an upcoming acquisition, BMO Capital suggests, citing falling uranium equity valuations in recent weeks and CCJ's ample funding capability. Potential targets: Paladin Energy (PALAF.PK), Denison Mines (DNN), UEX Corp. (UEXCF.PK)| May 23, 2012, 9:19 AM | 2 Comments
Nov. 28, 2011, 8:40 AM
Cameco (CCJ) gains 4.1% after stating it will allow its C$4.50/share offer for fellow Canadian uranium miner Hathor Exploration (HTHXF.PK) to lapse. Barring regulatory holdups, Cameco's move paves the way for Rio Tinto (RIO) to acquire Hathor, courtesy of its C$4.70/share offer. RIO +6.2%.| Nov. 28, 2011, 8:40 AM
Nov. 17, 2011, 4:36 PM
Oct. 19, 2011, 11:01 AM
Rio Tinto (RIO -1.9%) is making a C$578M all-cash bid for Canadian uranium miner Hathor Exploration (HTHXF.PK). The offer represents an 11% premium to an August bid from Cameco (CCJ -2.9%). Politicians might object to Rio Tinto's bid out of a wish to see Hathor acquired by a fellow Canadian firm.| Oct. 19, 2011, 11:01 AM | 1 Comment
Aug. 26, 2011, 9:22 AM