no takeover of pdn

please read the following article published by UBS today. DYOR please.

Canada's Cameco Corp said on Wednesday it will acquire a 70 percent interest in the Kintyre uranium exploration project in Western Australia from Rio Tinto Ltd for $346.5 million. The remaining 30 percent will be bought by Sydney-based Mitsubishi Development Pty Ltd. Together they paid $495 million for the property. Based on its due diligence, Cameco, the world's top uranium producer, said the Kintyre project may have potential mineral deposits ranging from 62 million to 80 million pounds of uranium. "The Kintyre project is an ideal fit with Cameco's strategy to expand our base of quality uranium assets," Cameco Chief Executive Jerry Grandey said in a statement. "It adds potential for low-cost open pit production and further diversifies our uranium business geographically." Uranium was first discovered in the area in 1985 but after extensive exploration that identified eight deposits, it was placed in care and maintenance in 1988 when uranium prices declined below $12 per pound. Cameco said the deal is expected to close in August and is subject to ministerial approval in Western Australia and the execution of certain agreements with the Martu people, who are the

traditional owners of the land. Cameco said it has experience working

with the Martu people through its ongoing exploration programs.