UPDATE: Hathor Continues To Make Gains on Bid From Cameco
Hathor Exploration (HAT.TO) continues to make gains and remains close to a three year high hit Friday when uranium producer Cameco (CCO.TO) said it planned a $520 million hostile takeover bid for Hathor after talks aimed at a friendly deal failed. Some analysts don't expect a bidding war for Hathor, as was initially mooted. Daniel Rohr at Morningstar said: "If consummated, the Hathor deal would add to Cameco's already impressive growth platform, which presently targets an increase in uranium production volume from 22.8 million pounds in 2010 to 40 million by 2018. Importantly, Hathor's key asset, the Roughrider exploration property, is situated reasonably close to Cameco's key properties and existing infrastructure in Saskatchewan's uranium-rich Athabasca Basin, which could set the stage for operational efficiencies that would make Roughrider more valuable in Cameco's hands than it would be on a stand-alone basis."
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