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Fission Uranium Corp T.FCU

Alternate Symbol(s):  FCUUF

Fission Uranium Corp. is a Canada-based uranium company and the owner/developer of the high-grade, near-surface Triple R uranium deposit. The Company is the 100% owner of the Patterson Lake South uranium property. Its Patterson Lake South (PLS) project, which hosts the Triple R deposit, a large, high-grade and near-surface uranium deposit that occurs within a 3.18 kilometers (km) mineralized trend along the Patterson Lake Conductive Corridor. The property comprises over 17 contiguous claims totaling 31,039 hectares and is located geographically in the south-west margin of Saskatchewan’s Athabasca Basin. Additionally, the Company has the West Cluff property comprising three claims totaling approximately 11,148-hectares and the La Rocque property comprising two claims totaling over 959 hectares in the western Athabasca Basin region of northern Saskatchewan. The La Rocque property is prospective for high-grade uranium and is located five km south of Cameco’s La Rocque Uranium Zone.


TSX:FCU - Post by User

Comment by GerryURon Aug 31, 2024 11:17pm
192 Views
Post# 36204406

RE:Deal Stalled

RE:Deal StalledI believe the article you're referencing is from July 17th.

"Paladin CEO bullish on clearing national security test on Fission deal, as Ottawa inquires about state-owned China shareholder"

It references the fact that CGN is Fission's largest shareholder, and whose parent is state-owned China Uranium Development Co. It goes on about how their position will be diluted under Paladin ownership (to less than 2%), and that they'll lose their board seat.  

The deal got Canadian regulatory approval to more forward ages ago. Oddly enough, the approval was announced on July 16th, the day before that article was published.  The approval was by the competition watchdog to verify clearance under the Investment Canada Act and Competitive Act.  ie: it's my understanding that that approval at that time was completely inclusive of the "clearing national security test".  

I believe it was a mis-timed publication of that article.  Like they put the work into doing it, but by the time the published it the reality of the government approval had already been complete.  

At least that's my take.... and that's on the assumption that that's the article you are indeed talking about, since I can't find any similar one, and none indicating any stall at this point in the deal.
 
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