Cauldron Energy Confirms Plan to Launch Takeover Offer for Energia

Mining Weekly reported that Cauldron Energy, which plans to create a uranium-focused entity, announced on Monday that it plans to launch a takeover offer for Energia Minerals. The offer was a 30% premium to Energia share’s closing price or 1 share per 8 Energia shares.

As quoted in the market news:

Energia currently had an inferred mineral resource of 16.9-million tons, at 350 parts per million uranium oxide (U₃O₈) for 13-million pounds of U₃O₈ at the Carley Bore deposit at its Nyang project.

Cauldron, in turn, recently announced an exploration target of between 30-million and 115-million pounds of U₃O₈ at its wholly owned Yanrey project, in Western Australia, which is adjacent to the Nyang deposit.

Click here to read the full Mining Weekly report.