M&A

Superior doubles down on uranium

Undertaking DD on properties in Wyoming and Utah

Superior doubles down on uranium

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.

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