“We think there’s a fantastic opportunity to provide a really substantial global alternative to Cameco with this deal,” said Purdy, who visited Canada this week to meet federal government officials about the proposal.
Combining companies would make it easier to attract investors and raise the likelihood that Fission’s Patterson Lake South project is completed by the end of the decade, Purdy said. He expects to fund construction of Fission’s C$1.2 billion ($877 million) project by cash generated from Paladin’s Langer Heinrich operation in Namibia as well as through traditional financing, including debt and offtake agreements.
Paladin’s agreement last month to buy Fission in a C$1.14 billion all-stock deal marks the first significant sign of consolidation in a sector that has been revived by global demand for nuclear energy. While uranium prices have rallied as supply concerns escalate and countries reconsider nuclear…
