Cameco plans C$520 million hostile bid for Junior Uranium...

Cameco plans C$520 million hostile bid for Junior Uranium Explorer......

Canada's largest uranium producer said on Friday it would offer C$3.75 a share for Hathor, a 40 percent premium on its Thursday close of C$2.67.

The announcement sent Hathor's shares more than 45 percent higher on Friday to close at C$3.88, though analysts said a bidding war for Hathor was unlikely.

Check the Full story here - http://uk.reuters.com/article/2011/08/26/us-hathor-cameco-idUKTRE77P4K020110826

Points to Consider:

** Hathor's main asset, the Roughrider uranium deposit with a total indicated and inferred resource of 58 million pounds.

** Forte already have proven 28.5Mlbs JORC Resource

** Price being paid by Cameco would value Forte's resource at �321mln or 22.7p per share.

Note this statement from the article:

With plenty of cash still left in the coffers, buying Hathor would not preclude Cameco from further takeover deals.

"I don't think we'll stop what we were doing before this - scouring the world for good projects," Gitzel said. "Projects that make sense for Cameco, that have possible potential synergies for our operations. So yes, we'll keep looking for more."

Gitzel, who took over the top job at Cameco less than two months ago, had previously said that Cameco was looking for development-stage assets and identified Africa as a target region.


I am sure it is only a matter of time before Forte are approached with a take out (At much higher SP than where we are) or JV.


Without doubt current SP is Seriously Undervalued and wont be long before the big boys are sniffing around if they are not already ;-)

As always DYOR Etc......