RE:Fission can expland PLS and groom for production - both...My own crystal ball sees that once PLS has completed a Pre-Feasibility Study then we could see CGN and Areva propose a takeover deal where CGN increases its ownership to the 49% allowed under Canada's Non-Resident Ownership Policy for U mines, while Areva Canada takes the remaining 51%. To me that seems the most likely scenario... imho.
Under your scenario, Areva would come in by either a direct interest in the project, or shares in FCU in exchange for development capital, diluting FCU shareholders to a trivial interest. In order for boh CGN and Areva to maximize ROI, they have to screw FCU shareholders as hard as they can. Neither of them are here for the benefit of FCU shareholders-they are here only for the uranium to sell on to the downstream U business segment, to process and sell on again as fuel to their utility customers. If this means diluting FCU shareholders down to a trivial interest, they will do so......based on the structure of the CGN deal, and CGN's relationship with Areva, IF a feasibility study was positive, there could be no other outcome than to screw long suffering FCU shareholders into the ground.