Cauldron Energy (ASX:CXU) has despatched a bidder's statement to acquire all the shares in Energia Minerals (ASX:EMX) following a conditional takeover offer to acquire all the shares in Energia Minerals.
The offer is on the basis of 1 share in Cauldron for every 8 shares held in Energia.
Energia scoping study
Yesterday, Energia reported results of a Scoping Study for its wholly-owned Carley Bore uranium deposit in Western Australia that estimates pre-tax net present value at $61 million if the project is developed.
Capital costs were estimated at $114 million and total operating costs of US$39 per pound of U3O8.
Energia has also returned into an ASX trading halt while it prepares a clarification announcement regarding the results of the Scoping Study completed on the Nyang uranium project, where Carley Bore is located.
The halt will last until the earlier of an announcement being made to the market, or the opening of trade on Monday, 20th May 2013.
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