On Friday the 24th, American uranium producer Energy Fuels (TSX:EFR) signed the letter of intent with Strathmore Minerals (TSX:STM). This makes Energy Fuels one of the largest uranium company in the US.
Strathmore’s high-grade uranium project is within trucking distance of Energy Fuels’ White Mesa Hill.
The most important part of this deal is that this transaction improves relationship with KEPCO, as they are developing Gas Hills in JV with Strathmore, and KEPCO happens to be the largest shareholder and customer of Energy Fuels.
Following the acquisition, Energy Fuels share price climbed 12.9%.