Cauldron Energy (ASX: CXU) has extended the closing date for the takeover offer for Energia Minerals (ASX: EMX), which will now end at 5.00pm (WST/Perth time) on 16 November 2013 (unless further extended).
The offer is currently a conditional offer of one Cauldron share for every eight Energia shares held. Cauldron last traded at $0.12, with Energia $0.015.
The companies projects are located in the Yanrey region of Western Australia, and a consolidation by the companies could provide economies of scale, and a potential ISR mining opportunity.
Energia's Carley Bore is directly south of Cauldron's Bennet Well, with Paladin Mining's (ASX: PDN) projects to the north.
Cauldron sees the potential for uranium production within five years.
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