Friday, August 26, 2011

M&A heats up in Saskatchewan as Cameco announces intention to buy Hathor for $520 million CAD

Saskatoon-based Cameco Corporation, the largest uranium miner in the world, just announced this morning plans to buy its junior peer Hathor Exploration Ltd. for cash consideration of $3.75 per share in a transaction which values the fully diluted share capital of Hathor at approximately $520 million CAD, after talks for a potential board-supported deal failed.

Hathor is a junior uranium company focused on exploration projects in the Athabasca Basin of northern Saskatchewan, Canada. The company's most significant asset is the Roughrider uranium deposit. The Roughrider deposit is estimated to contain indicated and inferred resources of approximately 17.2 and 40.7 million pounds of uranium. The deposit is located approximately 25 kilometres northwest of Cameco's Rabbit Lake mill.

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