Energy Fuels completes Base Resources buy after Australia court nod

(Alliance News) - Base Resources Ltd shares were suspended from trading on AIM Friday morning, after Energy Fuels Inc completed its acquisition of the mineral sands producer.

The Federal Court of Australia on Thursday approved the scheme of arrangement for a wholly owned subsidiary of Energy Fuels, a Lakewood, Colorado-based uranium and vanadium producer, to buy 100% of shares in Base Resources.

The Africa-focused miner announced in late April that it had agreed to Energy Fuels' takeover offer. Its shareholders will be entitled receive 0.0260 Energy Fuels shares for each of its own shares, plus a special dividend of 6.5 Australian cents per share.

The deal values Base Resources' total equity at AUD375 million, or approximately GBP193.9 million.

By Emma Curzon, Alliance News reporter

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