Bullboard - Stock Discussion Forum Fission Uranium Corp T.FCU

Alternate Symbol(s): FCUUF

Energy

Fission Uranium Corp. is a Canada-based resource company. The Company’s principal business activity is the acquisition and development of exploration and evaluation assets. The Company is a resource issuer specializing in uranium exploration and development in Saskatchewan’s Athabasca Basin in Western Canada. The Company’s primary asset is the Patterson Lake South (PLS) project, which hosts the... see more

Add To Watchlist

TSX:FCU - Post Discussion

Fission Uranium Corp > 📝Canaccord Genuity's take on Paladin Energy $PDN's proposed

View:

Post by mangoe on Jun 25, 2024 12:02pm

📝Canaccord Genuity's take on Paladin Energy $PDN's proposed

John Quakes

@quakes99 -

Canaccord Genuity's take on Paladin Energy $PDN's proposed C$1.14B acquisition of Fission #Uranium $FCU echos what seems to be the consensus view of Fission shareholders: "In our view, this is a more favourable transaction for PDN shareholders than FCU shareholders. At our C$1.75/sh target price, which is based on 1.0x NAV, the deal implies a ~26% discount to what we think the company is worth. We expect the biggest pushback from FCU shareholders to be the light premium."

"Furthermore, we were surprised by the timing of this deal with FCU on the verge of receiving its provincial approvals (targeting September 2024), a key re-rating catalyst"

"Is Fission now in play? With a deal now on the table for one of the best undeveloped assets in the Athabasca Basin, we would not be surprised to see other interest in the asset and a potential competing bid (especially in light of the low premium). In our view, today's proposed transaction could put FCU "in play", forcing other potential suitors' hands."

Seems to be little point in mailing out voting ballots to Fission shareholders as they are very unlikely to be voting Yes to this offer. A much higher offer will be needed to get the required 66.7% vote for acceptance.