M&A

Superior doubles down on uranium

Undertaking DD on properties in Wyoming and Utah

This article is 4 years old. Images might not display.

The properties are owned by Premier Uranium, an entity said to owned by a fund controlled by Sachem Cove Partners, "a prominent uranium/nuclear power dedicated hedge fund led by uranium investor Mike Atkin".

Superior is paying A$200,000 to take a look at Sweetwater (Wyoming) and Uravan (Utah), with no deal agreed-to should the ASX-listed junior likes what it sees.

Sweetwater is adjacent to Rio Tinto's non-operating mill and resource of the same name.

Earlier this month Superior announced it was undertaking DD on the Aurora uranium property in Oregon.

The move into uranium comes as a long mooted recovery in the price of commodity has possibly begun to take shape.

It also comes as Superior find it difficult to attract much attention to its namesake zinc play in Ontario.

Superior is led by executive director Grant Davey, who was previously a key figure at Boss Resources and its advanced Honeymoon uranium project in South Australia.

Shares in Superior were up 11% to 10c in afternoon trade, capitalising the company at $13 million.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining News Intelligence team.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining News Intelligence team.

editions

Mining Company ESG Index: Benchmarking the Future of Sustainable Mining

The Mining Company ESG Index report provides an in-depth evaluation of ESG performance of 61 of the world's largest mining companies. Using a robust framework, it assesses each company across 9 meticulously weighted indicators within 6 essential pillars.

editions

Mining Journal Intelligence Global Leadership Report 2024: Net Zero

Gain insights into decarbonisation trends and strategies from interviews with 20+ top mining executives and experts plus an industrywide survey.

editions

Mining Journal Intelligence Project Pipeline Handbook 2024

View our 50 top mining projects, handpicked using a unique, objective selection process from a database of 450+ global assets.

editions

MiningNews.net Research Report 2024

Access a multi-pronged tool to identify critical risks and opportunities in Australia’s mining industry.