{"id":2917,"date":"2023-12-08T01:45:14","date_gmt":"2023-12-08T01:45:14","guid":{"rendered":"https:\/\/economicherald.net\/?p=2917"},"modified":"2023-12-08T01:45:14","modified_gmt":"2023-12-08T01:45:14","slug":"ground-breakers-the-uranium-mergers-are-coming","status":"publish","type":"post","link":"https:\/\/economicherald.net\/?p=2917","title":{"rendered":"Ground Breakers: The uranium mergers are coming!"},"content":{"rendered":"<p>High uranium prices sparking new flurry of North American M&amp;A<br \/>\nBoss Energy to become multi-mine producer after buying 30% of enCore\u2019s high grade Alta Mesa project in Texas for US$60m<br \/>\nCanadian explorer 92E inks 3-way merger with ATHA Energy, Latitude Uranium at implied 78% premium to last share price<\/p>\n<p>\u00a0<\/p>\n<p>The budding uranium bull market has sparked a fresh flurry of North American merger and acquisition activity this week.<\/p>\n<p>On Wednesday, Australia\u2019s newest emerging producer <a href=\"https:\/\/stockhead.com.au\/company\/boss-energy-boe\/\" target=\"_blank\" rel=\"noopener\">Boss (ASX:BOE)<\/a> announced plans to acquire 30% of TSXV-listed enCore\u2019s high grade Alta Mesa In Situ Recovery (ISR) project in South Texas for US$60m cash.<\/p>\n<p>With the Honeymoon and Alta Mesa projects, $1.4bn capped BOE expects to become a multi-mine uranium producer in 1H 2024.<\/p>\n<p>\u201cThe outlook for the global uranium market remains strong,\u201d managing director Duncan Craib says.<\/p>\n<p>\u201cWith two ISR assets expected to come into operation in 1H 2014 in tier 1 jurisdictions, no punitive legacy off-take agreements, no gearing and our strategic uranium inventory, Boss Energy provides a unique uranium production exposure for investors.\u201d<\/p>\n\n<p><span class=\"mce_SELRES_start\"><\/span>\u00a0<\/p>\n<p><a href=\"https:\/\/stockhead.com.au\/company\/92-energy-92e\/\">92 Energy (ASX: 92E)<\/a>\u00a0 was the first new uranium company to list on the ASX in more than a decade when it joined the bourse almost three years ago.<\/p>\n<p>92E boss Siobhan Lancaster \u2014 <a href=\"https:\/\/stockhead.com.au\/resources\/uranium-has-started-a-new-bull-run-but-who-will-bake-the-first-yellowcake\/\">part of the Extract team which sold the Husab uranium mine for $2.2 billion<\/a> \u2013 has said its debut and subsequent exploration success in Canada\u2019s Athabasca Basin was the catalyst for many other uranium companies to either IPO or peg ground in one of the world\u2019s highest-grade uranium districts.<\/p>\n<p>92E today announced a merger with TSX-listed ATHA Energy at an implied 78% premium to the last 92E share price, and 70% premium to the 30-day VWAP.<\/p>\n<p>ATHA has concurrently entered a deal with fellow TSX play Latitude Uranium.<\/p>\n<p>The three-way merger will create a leading uranium exploration company \u201cwith multi-project exposure across Canada\u2019s top three uranium jurisdictions\u201d.<\/p>\n<p>Assuming completion of the transactions, existing shareholders of ATHA, 92E and Latitude will hold ~49%, 25% and 25% of the merged group, respectively.<\/p>\n<p>The 92E board and its two largest shareholders intend to vote in favour of the deal.<\/p>\n<p>\u201cWe are very excited to be part of such a transformative transaction to create an unparalleled uranium exploration company focused on Canada\u2019s three major uranium districts,\u201d Latitude CEO John Jentz says.<\/p>\n<p>\u201cThe benefits for LUR shareholders are clear, an immediate increase in value combined with ongoing exposure to one of the most robust portfolios of high-upside uranium assets in the entire sector.<\/p>\n<p>\u201cThe combined company will be fully funded with C$64 million in cash and boasts a suite of highly complementary uranium assets across the exploration spectrum.<\/p>\n<p>\u201cThe combined company will have increased scale and prospectivity and we believe it will be a go-to name in the uranium exploration industry.\u201d<\/p>\n\n<p><span class=\"mce_SELRES_start\">\ufeff<\/span><span class=\"mce_SELRES_start\"><\/span><br \/>\n\u00a0<\/p>\n<p>This follows the completion earlier this week of IsoEnergy\u2019s acquisition of fellow TSXV listed Consolidated Uranium, which has past producing mines in Utah and Colorado.<\/p>\n<p>IsoEnergy is up +1200% since the 2018 discovery of the outrageously high grade (48.61Mlbs at 34.5%) U3O8 Hurricane deposit in the eastern Athabasca Basin.<\/p>\n<p>On average, one cubic metre of Hurricane\u2019s high-grade domain weighs over 4.5 tonnes and contains over 5,200lb of U3O8, the company said last year.<\/p>\n<p>\u00a0<\/p>\n<h2>Uranius share prices today:<\/h2>\n<p>Your favourite ASX stock missing from this list? Email reuben@stockhead.com.au<\/p>\n<div class=\"supsystic-table-loader spinner\"><\/div>\n<div class=\"supsystic-tables-wrap \">CODE COMPANY PRICE % TODAY MARKET CAP 92E 92Energy 0.455 25% $38,826,912 VAL Valor Resources Ltd 0.0035 17% $11,620,004 KNG Kingsland Minerals 0.25 11% $11,144,071 GTR Gti Energy Ltd 0.0075 7% $14,349,630 CXU Cauldron Energy Ltd 0.015 7% $15,850,288 MEU Marmota Limited 0.049 4% $49,763,627 SLX Silex Systems 3.4 3% $776,262,587 BOE Boss Energy Ltd 3.935 3% $1,348,206,214 PEN Peninsula Energy Ltd 0.1025 3% $126,050,534 DEV Devex Resources Ltd 0.255 2% $110,297,668 AEE Aura Energy 0.28 2% $159,243,450 GUE Global Uranium 0.092 1% $19,140,577 LOT Lotus Resources Ltd 0.2775 1% $474,245,997 PDN Paladin Energy Ltd 0.9475 1% $2,804,373,001 NXG Nexgenenergycanada 10.06 0% $347,542,028 MOM Moab Minerals Ltd 0.007 0% $4,983,744 AGE Alligator Energy 0.054 0% $208,564,686 LAM Laramide Res Ltd 0.74 0% $15,759,892 GLA Gladiator Resources 0.017 0% $10,043,546 BKY Berkeley Energia Ltd 0.395 0% $176,089,702 ACB A-Cap Energy Ltd 0 0% $86,499,432 THR Thor Energy PLC 0.028 0% $5,209,017 ARE Argonaut Resources 0.11 0% $16,799,673 SBR Sabre Resources 0.027 0% $9,776,397 EME Energy Metals Ltd 0.15 0% $31,452,497 UVA Uvrelimited 0.13 0% $4,302,770 BSN Basinenergylimited 0.125 0% $7,785,001 BMN Bannerman Energy Ltd 2.62 0% $397,435,795 1AE Auroraenergymetals 0.075 -1% $12,099,727 DYL Deep Yellow Limited 1.035 -1% $796,339,915 TOEDA Toro Energy Limited 0.49 -5% $49,247,366 HAR Haranga Resources 0.18 -8% $12,833,734 ADD Adavale Resource Ltd 0.008 -11% $6,573,324 NFL Norfolk Metals 0.195 -15% $8,124,749 EL8 Elevate Uranium Ltd 0.425 -17% $146,588,084 BSN Basin Energy 0.12 0% $5,990,000 <!-- \/#supsystic-table-13604.supsystic-table --><\/div>\n<p><!-- \/.supsystic-tables-wrap --><!-- Tables Generator by Supsystic --><!-- Version:1.10.30 --><!-- http:\/\/supsystic.com\/ --><a title=\"WordPress Tables Plugin\" href=\"https:\/\/supsystic.com\/plugins\/wordpress-data-table-plugin\/?utm_medium=love_link\" target=\"_blank\" rel=\"noopener\">WordPress Tables Plugin<\/a><br \/>\n<span class=\"et_bloom_bottom_trigger\"><\/span><\/p>\n<p>The post <a href=\"https:\/\/stockhead.com.au\/resources\/ground-breakers-the-uranium-mergers-are-coming\/\">Ground Breakers: The uranium mergers are coming!<\/a> appeared first on <a href=\"https:\/\/stockhead.com.au\/\">Stockhead<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"<p>High uranium prices sparking new flurry of North American M&amp;A Boss Energy to become multi-mine producer after buying 30% of enCore\u2019s high grade Alta Mesa <a href=\"https:\/\/economicherald.net\/?p=2917\" class=\"read-more-link\">[more&#8230;]<\/a><\/p>\n","protected":false},"author":0,"featured_media":2918,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-2917","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Ground Breakers: The uranium mergers are coming! 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