that the Supreme Court of British Columbia approved its acquisition of UEX on Aug. 18 after the company’s shareholders voted in favour of the takeover on Aug. 15.
“This marks UEC’s second successful highly accretive M&A transaction in the last year, creating the largest diversified North American focused uranium company,” Uranium Energy CEO Amir Adani said in a press release. “The competing interest for UEX from other industry participants further validates the significant upside and strategic rationale we identified in UEX’s portfolio of high-grade projects in the world-class Athabasca Basin of Saskatchewan,” Adani added.Article content
Uranium prices have dropped 24 per cent from their highs in April 2022, but are still almost 50-per-cent higher than a year ago, according to Fundamental Research Corp. The firm described the uranium supply chain as “highly vulnerable,” given that Russia accounts for 35 per of global production of enriched uranium.
Uranium producers such as Cameco Corp. have witnessed an increasing demand for the commodity in the past year. Cameco CEO Timothy Gitzel told analysts on a call at the end of July that countries struggling to access renewable energy were gradually turning towards nuclear for electricity.Article content
. has quoted 'Fundamental Research' in its story. Check your sources on this paid-for research rag. boughtandpaidfor