An End to Uranium’s Slide?

HoweStreet.com reports on the uranium trend with the recent market activities in the uranium markets.

The press release is quoted as saying:

One of the world’s largest uranium producers – Canada’s Cameco (T.CCO) – has launched a C$520-million hostile takeover bid for Hathor Exploration (T.HAT) in order to get its hands on Hathor’s high-grade Roughrider deposit in Saskatchewan’s prolific Athabasca Basin.

The offer of C$3.75 a share represents a 40% premium to Hathor’s closing price of C$2.67 on Thursday August 25, and it sent the company’s share price more than 46% higher on Friday. Cameco made the offer after talks with Hathor’s board failed. Hathor has not responded publicly to the news. The bid implies an enterprise value of US$8.70 per pound of contained uranium.

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