From this morning's Canaccord newsletter.
Hathor Exploration* (HAT : TSX : $4.69), Net Change: 0.00, % Change: 0.00%, Volume: 301,905
Rio Tinto (RIO : NYSE : US$52.16), Net Change: 0.00, % Change: 0.00%, Volume: 4,411,317
Forum Uranium* (FDC : TSX-V : .07), Net Change: 0.00, % Change: 0.00%, Volume: 152,000
Fission Energy* (FIS : TSX-V : .80), Net Change: 0.01, % Change: 1.27%, Volume: 141,155
Pitchstone Exploration* (PXP : TSX-V : .11), Net Change: 0.01, % Change: 10.53%, Volume: 53,200
UEX Corp.* (UEX : TSX : .60), Net Change: 0.00, % Change: 0.00%, Volume: 382,422
Hathor is gone. Well, almost. So who's next? Rio Tinto stepping up to purchase Hathor has provided further validity to the long-term outlook of the uranium market. Now, those analysts and investors that share a bullish view are looking for the next takeover candidate in the uranium space, especially the Athabasca Basin where many believe Rio might just be getting started. One Bay Street analyst put out a report addressing just this very topic. The analyst identified a few companies with projects in the Athabasca Basin that would make logical takeover targets. Fission Energy, which the analyst believes may be the “best and most prospective emerging deposit” in the basin, UEX, Forum Uranium and Pitchstone Exploration. In addition to the juniors, the analyst touched on the rumours that AREVA may be looking to sell assets in the Athabasca. He noted that AREVA would be unlikely to sell its stakes in the McArthur River and Cigar Lake projects. However, may be willing to sell non-core assets, including its interests in the Shea Creek and McClean Lake deposits. Taking it one step further, if Rio does buy assets from AREVA, than the next target may be Denison Mines' (DML) Canadian operations as well, the analyst wrote. Adding that, Denison owns minority interests in key deposits in the Athabasca, and an acquisition would clean up the ownership structures.
