Crosshair has US uranium assets in its sights
Crosshair Exploration & Mining Corp. (TSX:CXX) has launched a US$12.85 million hostile bid for US uranium assets owned by Australian American Mining Corporation Limited (ASX:AIW).
Crosshair has written directly to AusAm shareholders to outline their proposal and call on shareholders to support Crosshair's efforts to "unlock the value in AusAm."
Under the proposal, AusAm would receive consideration of US$12.85 million in Crosshair shares, in return for AusAm's uranium assets in Nevada, Texas and New Mexico.