Mon, Jan. 12, 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.
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."
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.
Jan. 16, 2013, 2:49 PMAmong 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. | Comment!
Jan. 16, 2013, 8:38 AMDenison 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. | Comment!
FCUUF vs. ETF Alternatives
FISSION URANIUM CORP. has a new major high-grade, shallow depth discovery at Patterson Lake South (PLS) in Canada?s Athabasca Basin, home to the richest uranium deposits in the world with grades 10x world average. A $12m, 30,000m winter drill program is underway and has hit broad mineralization... More
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