A JV with Rio Tinto and a greater presence in the Athabasca: Our acquisition of Pitchstone

If you’ve read our latest press release you’ll know that we’ve completed our  stock-only takeover of Pitchstone.

Why do I believe this is a great move for Fission?

We now have a formal JV relationship with Rio Tinto, a very significant expansion to our presence in the Athabasca Basin, a highly promising property in Namibia and an additional $1.5 million in cash – all for  $5.8 million in stock.

Combined with our flagship Waterbury Lake property, which sits immediately adjacent to Rio Tinto’s Roughrider property, and our equally promising PLS property, the addition of Pitchstone’s Athabasca claims means that, in my opinion, that we are now the leading junior in the Basin.

This matters because the Athabasca Basin in the world’s leading source of uranium, accounting for nearly 20% of world supply last year. Any and all serious uranium producers need to be there, and recent announcements from China regarding Canadian mining companies (see my earlier post) make it plain that the Athabasca is the place to be. This is why we’ve been so aggressive with our exploration and why this acquisition matters.

You can read the press release here. As always, if you have questions don’t hesitate to get in contact with us with any questions. If want to stay up to date with company news, I also encourage you to sign up to our mailing list and follow us on Twitter.<insert link https://twitter.com/FissionEnergy.

Dev Randhawa