Inside the Market’s roundup of some of today’s key analyst actions
) in a friendly transaction worth $1.14-billion furthers his long-held thesis that North American uranium assets should trade for a premium.
“Although proposed to be consummated at a price that is well below our target price, the deal has the potential for unlocking shareholder value in the intermediate and longer term,” he said. “For one, the proposed transaction provides an immediate premium, and simultaneously allows Paladin to become a more prominent figure in the global clean energy sector.
“We acknowledge the chance of a white knight starting an auction for PLS. In our view, there are several competing bidders that should benefit from exposure to a large-scale uranium deposit in a geopolitically safe jurisdiction. As for the rest of the market, we view this deal as a potential catalyst for increased M&A activity for uranium assets going forward.”
“With PMET being an exploration company with no revenues being generated, the focus of the financial results is on the company’s cash position and its ability to undertake its exploration and development programs,” he said. “We continue to be on the lookout for results from the ongoing drill programs at CV5 and CV13 , as well as the upcoming resource update and PEA expected in Q3/CY24.
“A definitive feasibility study is expected to start in Q3/CY24 for publication before September 30, 2025,” he added. “An infill drilling program at CV5, which will support the DFS, is expected to be completed Q1/CY25.”
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