"This transaction represents an inflection point for both Macusani and Azincourt," stated Ted O'Connor, current President and CEO of Azincourt. Macusani and Azincourt will combine their respective Management Teams and Board of Directors to create a wider, deeper pool of expertise to drive development and capital market activity as well as minimising the related overhead costs. The PEA's base case evaluation concludes a post-tax Net Present Value of $417 million – 15 times the current combined market capitalisation of both companies. The deal appears highly advantageous for current AAZ shareholders and indicates a good entry point for savvy commodity investors.Īzincourt retains its joint venture in Saskatchewan, Canada with the Athabasca Basin's leading exploration company, Fission Uranium, exploring the highly prospective Patterson Lake North (PLN) property, while gaining 68 million common shares of Macusani, a larger uranium company in Peru. O'Connor and Ian Stalker, Chairman of Azincourt, will also join a six member board of directors of Macusani.
Ted O'Connor will be appointed as CEO of Macusani following completion of the transaction, and Laurence Stefan, current President and CEO of Macusani, will continue his role as President and COO. AAZ's chairman, Ian Stalker, is the former CEO of UraMin which was sold to Areva for $2.5Bn. The merged companies will have a total combined resource of 49.67 M lbs of Measured and Indicated (M&I) contained U 3O, and 47.49 M lbs of inferred contained U 3O 8.Īzincourt CEO and President Ted O'Connor spent the last decade assessing uranium projects around the globe.He previously worked in senior management positions at Cameco Corporation – an $8 billion company and one of the world's largest uranium producers. On ApMacusani Yellowcake (TSX-V:YEL) (FRANKFURT:QG1.F) and Azincourt Uranium (TSX-V:AAZ) announced a planned merger that will create one of the largest undeveloped uranium projects in the world.
Fission uranium npv install#
China plans to install 50 GW of nuclear capacity by 2017, a 300% increase from currently levels of about 16 GW. VANCOUVER, B.C., Ap(GLOBE NEWSWIRE) - China's government confirmed 2013 uranium imports reached 19,000 tons of uranium concentrate, exceeding current demand by 7,000 tonnes.