The Critical Investor • 36 Comments
Oct. 28, 2015, 4:59 PM
- A dispute between Fission Uranium (OTCQX:FCUUF) and a retail shareholder group has escalated to the point where the shareholders are working on a plan to launch a proxy fight and kick out the company’s board, Financial Post reports.
- The dispute that was brewing for months went public this week as Fission’s board adopted a bylaw that forces the group to give the company 30 days notice if it wants to name new directors at the Dec. 15 annual meeting.
- The group believes the decision to pursue a merger with Denison Mines (NYSEMKT:DNN) is evidence the board is not acting in the best interests of the company and that shareholder value is at risk.
Oct. 13, 2015, 8:58 AM
- Denison Mines (NYSEMKT:DNN) and Fission Uranium (OTCQX:FCUUF) say they have terminated their C$483M merger agreement after the deal failed to receive the necessary approval of two-thirds of Fission's shareholders.
- At the deadline for submission of proxies on Friday, DNN's shareholders had strongly supported the deal.
- DNN had sought to acquire Fission to expand its presence in the Athabasca mining region in Saskatchewan.
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. 16, 2013, 8:38 AM
Denison Mines (DNN) will acquire a portfolio of uranium exploration projects from Fission Energy (FSSIF.PK), including Fission's 60% interest in the Waterbury Lake uranium project, as well as exploration interests in the eastern part of the Athabasca Basin, plus assets in Namibia, Quebec and Nunavut.| Jan. 16, 2013, 8:38 AM
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
Apr. 14, 2011, 3:39 PM
Uranium names back in favor today after a report suggests that related companies, so depreciated they’re trading at less than their assets would be worth in a fire sale, could see a pickup in M&A activity. Japan’s nuclear crisis made uranium miners 31% cheaper relative to book value, Bloomberg says. URG +4.4%, UEC +4.7%, URRE +0.5%, USU +1.6%, DNN +2.6%, URZ +7.6%.| Apr. 14, 2011, 3:39 PM | 1 Comment