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Fission Uranium’s big resource estimate rekindles takeover chatter

Jan. 12, 2015 7:14 PM ETFission Uranium Corp. (FCUUF) Stock, FCU:CA StockCCJ, TECK, RIO, FCUUFBy: Carl Surran, SA News Editor
  • 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 (TCK) that have no history in the region.

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