Are More Australian Uranium Mergers to Come?
Source: Mineweb.com (10/11/07)
A merger implementation agreement was announced today between Monaro Mining NL and Uranium King Ltd to put their uranium businesses together to form what both described as an "internationally competitive" uranium company.
Sydney-based Monaro was the first Australian uranium explorer to acquire ground in the Kyrgyz Republic, covering historic mines and orebodies outlined during the Soviet era. It also can earn 75% equity in a number of exploration licences in Australia's Northern Territory, Queensland and Western Australia...
While the sausage factory is pumping out as much as one new uranium explorer IPO each week on the Australian Stock Exchange, there is a sense the frenetic tempo has been tempered, first with the uranium price dipping to the $US70/lb range before strengthening. This saw a significant change in the market capitalisation of uranium juniors in the past two weeks. Second, from the growing realisation that near-term uranium mine developments are likely only in South Australia and the NT.