Categories: Energy
Topics: General Energy

Globe says Fission Energy could be Cameco's next target

Globe says Fission Energy could be Cameco's next target

Fission Energy Corp (C:FIS)
Shares Issued 100,735,805
Last Close 9/1/2011 $0.68
Friday September 02 2011 - In the News

Also Cameco Corp (C:CCO) In the News
Also Hathor Exploration Ltd (C:HAT) In the News

The Globe and Mail reports in its Friday, Sept. 2, edition that the uranium sector appears to be reignited again thanks to the $520-million hostile bid from Cameco ($22.75) for Hathor Exploration ($4.11), with shares in several uranium production and exploration firms rising since last week's announcement. The Globe's Darcy Keith writes in the Eye On Equities column that one of the biggest gainers has been Fission Energy (68 cents), rallying about 40 per cent since Aug. 24, amid speculation it could become the next takeover target in the sector. Versant Partners analyst Rob Chang says it is not a bad bet for investors to take, noting that Fission owns a majority interest in potential ore bodies adjoining Hathor's Roughrider deposit. Mr. Chang says, "It is our view that if Cameco is successful in its acquisition of Hathor Exploration's Roughrider deposit, the company will turn its attention towards the acquisition of Fission Energy as its shallower lying J-Zone and J-East zones would be the natural starting point along the path of mining uranium from the deeper Roughrider deposit." Mr. Chang has a $1.50 price target on Fission Energy, with a "buy (speculative)" rating.

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