Athabasca is home to such large and uranium rich properties as McArthur River and Cigar Lake. Some analysts suggest that when uranium demand gets under way – and it will, given the number of uranium reactors that are being planned for construction until 2020 - the Athabasca properties will be among the ones to benefit first and most. Denison has a strong, diversified portfolio and, with the Triple R deposit, Fission is bringing the Athabasca Basin's largest undeveloped high-grade resource as well as a successful and award-winning technical and management team," said Randhawa.ĭenison Energy’s most important assets will be two uranium exploration and development projects: the Patterson Lake South Project Fission and Denison Mines’ 60% owned Wheeler River project.īoth are located in the Athabasca Basin, which has seen the start of an actual uranium exploration ‘boom’ because its deposits are among the most desirable in the world. "This merger will create the uranium industry's leading exploration and development company at a time when the sector is poised for growth.
Fission’s chairman and CEO Dev Randhawa will take over the CEO position in the merged company. Denison Energy would then be equally owned by the Denison- and Fission shareholders. The combined company will be named Denison Energy, boasting a market capitalization of approximately C$900 million. This implies a price of 1.25 CAD per Fission-share, a premium of 18% to the average price of the past 30 days.
DENISON MINES FISSION URANIUM PLUS
If approved, Fission’s shareholders will receive 1.26 common shares of Denison for each common share of Fission held plus $0.0001 per share in cash. We are confident that our shareholders will benefit from the value creation opportunities that will be realized through an expanded and more diversified uranium company," said Denison’s executive chairman, Ron Hochstein, Executive Chairman of Denison. "The continued exploration success at our Phoenix deposit and Gryphon discovery, in combination with the discovery and exploration success of the world class Triple R deposit puts the combined company in an incredibly strong strategic position, with the most significant development portfolio in the world. (TSE:FCU) (OTCQX:FCUUF) intends to take over its competitor Fission Uranium for approximately C$483 million to create a diversified uranium company with a promising project portfolio in northern Saskatchewan. Canada’s Denison Mines ( TSE:DML) (NYSE MKT:DNN) and Fission Uranium Corp.
0 kommentar(er)
