Proxy firm recommends IsoEnergy’s acquisition of Anfield Energy
Independent proxy advisory firm Institutional Shareholder Services (ISS) has recommended that shareholders of Toronto-listed IsoEnergy vote in favour of its proposed acquisition of Anfield Energy.
The deal, announced last month, involves a C$126.8-million all-share transaction, which will position IsoEnergy for increased uranium production in the US.
IsoEnergy CEO Philip Williams expressed his satisfaction with ISS’s support, calling it an endorsement of the strategic benefits the acquisition would bring to shareholders.
In its report, ISS stated that the transaction made “strategic sense,” noting that the combined company would benefit from enhanced access to capital, improved trading liquidity, potential cost synergies, and increased development optionality for shareholders.
Anfield’s assets include the Shootaring Canyon mill in south-eastern Utah, one of only three licensed and operating conventional uranium mills in the US. Additionally, Anfield holds a diverse portfolio of uranium and vanadium projects across Utah, Colorado, New Mexico and Arizona. The combination of these assets will create one of the largest uranium mineral endowments in the US, supported by a 100%-owned processing facility and multiple fully permitted mines ready for restart.
A standout feature of the deal is the integration of IsoEnergy’s advanced Tony M mine, located just 6.5 km from Anfield’s Shootaring Canyon mill. IsoEnergy has already submitted a restart application to the state of Utah, with plans to increase the mill’s throughput from 750 t/d to 1 000 t/d and expand its licensed production capacity from one-million pounds to three-million pounds a year of uranium.
This acquisition follows IsoEnergy’s purchase of Consolidated Uranium last year, further cementing its position as a global leader in uranium development and exploration.
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