Consolidated Uranium agrees to buy undeveloped Virginia uranium project

Consolidated Uranium, which owns a portfolio of pre-production and mothballed uranium projects, has agreed to acquire Virginia Energy Resources, owner of an undeveloped uranium deposit in that state, for C$29 million (US$21.6 million) in stock.

Not registered?

Receive daily email alerts, subscriber notes & personalize your experience.

Register Now Under the deal announced Nov. 15, Virginia Energy shareholders would receive 0.26 shares of Consolidated Uranium for each share in Virginia Energy they hold. Both company stocks are listed on the Toronto Stock Exchange.At the closing price Nov. 14, that implied a value for the transaction of C$32.2 million. However, the value dropped as shares of Consolidated Uranium declined in recent days. The price of Consolidated Uranium shares fell after the announcement, closing at C$1.73 Nov. 22, down more than 10% from C$1.93 on Nov. 14, the day before the announcement.Prices of Virginia Energy shares climbed on the news of the deal, […]

About the author: StockMan
Any information posted on the website has been prepared without taking into account your objectives, financial situation or needs and as such, you should before acting on the information or advice, consider the appropriateness of the information or advice in relation to your objectives, financial situation or needs. Please be aware that any information posted on this site should not be considered to be financial product advice.
Posting Guidelines
Do
  • Do contribute something to the discussion
  • Do post factual information, analysis and your view on company valuations
  • Do disclose if you have an interest in a security
  • Do take our Terms of Use seriously
Do Not
  • Do not make low-content posts, unsubstantiated ramps or untruthful/misleading statements
  • Do not complain about a post unless you have reported it first, and not on the forum.
  • Do not post financial advice
  • Do not advertise or post sponsored content

Get involved!

Get Connected!

Come and join our community. Expand your network and get to know new people!

Comments

No comments yet