Kelowna, B.C-based Fission is developing the Patterson Lake South uranium project in the Athabasca Basin region of Saskatchewan and hopes to be in production by the end of the decade.
Paladin trades on the Australian stock exchange, but it plans to list on the TSX after the deal closes. PLS has been in development for more than a decade, and its mine plan has undergone several iterations. Because the uranium ore lies only about 55 meters below the surface, Fission considered building a hybrid open pit and underground operation. But Fission eventually decided to develop an underground operation only, in large part because the environmental footprint is less intrusive and permitting is anticipated to be considerably easier to obtain.
“It just doesn’t seem like enough for something that’s going to be five per cent of global supply,” he said.
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