The merger of Azarga Uranium (TSX: AZZ; US-OTC: PWURF) and URZ Energy (TSXV: URZ; US-OTC: URZZF) will create a new uranium development company focused on in situ recovery (ISR) uranium deposits in the United States.
Azarga controls six uranium assets in the U.S. and its flagship project, Dewey Burdock in South Dakota, has received key permits from the Environmental Protection Agency. URZ Energy owns the Gas Hills, Juniper Ridge and Shirley Basin properties in Wyoming and also has properties in Utah and Colorado.
“We think it’s time to put good assets and good people and financial structures together to take advantage of opportunities when the uranium commodity market turns,” says Todd Hilditch, URZ Energy’s executive chairman.
URZ Energy’s CEO, Glenn Catchpole, who has spent the last 40 years in the uranium sector, says the business combination will create the preeminent ISR uranium developer in America and that the two companies have been talking about a deal for a few months.
Continue reading at The Northern Miner.