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Hathor Exploration’s (TSE:HAT) board recommends that shareholders accept Rio Tinto’s (LON:RIO) all-cash offer of Can$654 million.
Rio Tinto increased its all-cash offer to acquire all of the outstanding common shares of Hathor to $4.70 per share.
The offer represents a premium to Cameco Corporation’s previous offer of Can$4.50 per common share.
According to a preliminary economic assessment, Hathor’s Roughrider uranium deposit showed it would potentially be one of the lowest cost uranium producers in the world at only $14.44/lb U3O8.
The Globe and Mail reported Rio is one of the world’s largest uranium producers, mining 16 percent of the world’s nuclear fuel. “The mines include a 68-per-cent interest in Energy Resources of Australia Ltd. and 69-per-cent interest in Rössing Uranium Ltd in Namibia.”
Comments
sally liu
Rio is one of the world’s largest uranium producers. A lot of security issues related to nuclear fuel. energy is also very important