Cameco to Buy Hathor Exploration for C$520 million

Aug. 26, 2011 07:54AM PST

Reuters reports Cameco Corp (TSE:CCO) says that it plans to buy Hathor Exploration Ltd (TSE:HAT) for about C$520 million ($527.8 million )in cash.

Reuters reports Cameco Corp (TSX:CCO) says that it plans to buy Hathor Exploration Ltd (TSX:HAT) for about C$520 million ($527.8 million )in cash.

The market news is quoted as saying:

The offer price of C$3.75 per share, represents a 40 percent premium to Hathor’s Thursday closing of C$2.67.
Cameco said it first offer to buy Hathor, whose most significant asset is the Roughrider uranium deposit in Saskatchewan, was made on August 19.
The Roughrider deposit is estimated to contain indicated resources of about 17.2 million pounds of uranium. The deposit is located about 25 kilometers northwest of Cameco’s Rabbit Lake mill.