With the Fission-Denison merger dead, attention turns to next possible moves in the Athabasca Basin, the world's richest underground concentration of the metal used to fuel nuclear reactors.įission neighbour NexGen Energy grabbed its share of the spotlight this morning with the release of stellar drill results at the company's rapidly growing Arrow project. The deal would have consolidated Fission's 100% owned Patterson Lake South deposit and Denison's 60% owner Wheeler River project, as well as Denison's 22.5% ownership of the McClean Lake mill in the eastern Basin. The news comes after a sometimes rancorous shareholder town hall meeting in Toronto last week featuring Denison's Lukas Lundin and Fission's Dev Randhawa that was covered live by CEO chat ( story here). News release: Denison and Fission terminate arrangement agreement Two-thirds approval was required from Fission shareholders but they shot down the much-criticized all-share deal, which had dragged down the stocks of both companies since it was announced July 6. The Athabasca Basin is back in play after a planned merger between Denison Mines and Fission Uranium fizzled, the companies announced this morning. The breakup of the Denison-Fission agreement has shifted the focus to other Athabasca Basin plays, including NexGen Energy.
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