Energy Fuels kicks off 2015 with bid for Uranerz

In what will be its fifth acquisition since February 2012, conventional uranium producer Energy Fuels (TSX: EFR; NYSE-MKT: UUUU) hopes to pick up in situ recovery (ISR) uranium producer Uranerz Energy (TSX: URZ; NYSE-MKT: URZ) in a friendly all stock deal worth $179 million.

If approved, the transaction would transform Energy Fuels into the second largest integrated uranium producer in the U.S. Its wholly owned White Mesa uranium mill in Utah – the only licensed and operating conventional uranium mill in the U.S. – already accounts for 20% of all uranium production in the country, and Uranerz Energy became the newest uranium producer in the U.S. in April 2014 when its Nichols Ranch ISR mine in Wyoming started production.

A combination of the two companies’ pipeline of development projects would also pair conventional assets – such as the Canyon mine in Arizona, the Sheep Mountain project in Wyoming, the Henry Mountains project in Utah and the Roca Honda project in New Mexico – with ISR assets such as the Jane Dough, Hank, West North Butte and Reno Creek projects.

Read the complete article at NorthernMiner.com/news/energy-fuels