Fission Uranium Corp. (FCUUF) - OTCQX
  • 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. 28, 2015, 4:59 PM | 5 Comments
  • 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.
    | Oct. 13, 2015, 8:58 AM | 10 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.
    | Jan. 12, 2015, 7:14 PM
  • Dec. 10, 2013, 10:49 AM
    • Fission Uranium (FCUUF) completed its acquisition of Alpha Minerals, giving it full ownership of the Patterson Lake South discovery in Saskatchewan's Athabasca Basin, which Raymond James considers the last known "high-grade, easily open-pittable uranium asset left un-mined in the world," and which should operate with extremely low cash costs with plenty of exploration upside.
    • Such attributes make it a top takeover target for the Basin's existing major producers, miners considering a Basin foothold, or even Asian nuclear utilities, the firm says: "Assuming exploration momentum continues, we would be surprised if a bid did not materialize in the next two years."
    | Dec. 10, 2013, 10:49 AM
  • 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.
    | Sep. 3, 2013, 5:32 PM
  • 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
Company Description
Fission Uranium Corp. owns the near-surface, high-grade Triple R Deposit at PLS - the largest undeveloped uranium deposit in Canada's Athabasca Basin, which is home to the world's richest uranium mines. Recent highlights include a preliminary economic assessment study (PEA) that shows the Triple... More
Industry: Electric Utilities
Country: Canada