Western Prospector Group
Western Prospector is a Canadian company focused on the Saddle Hills uranium project, located in north-eastern Mongolia, in a region of established infrastructure, the 1,900 square kilometre Saddle Hills uranium project is unique in that one of its uranium deposits, Gurvanbulag Central, was previously readied for production.
See more information about Western Prospector Group
Western Prospector agrees acquisition by CNNC Intl for CDN$31m
Western Prospector Group Ltd has agreed to be bought by a unit of Hong Kong listed CNNC International Ltd for CDN$31m in cash.
Under the terms of the offer, First Development Holdings Corp will pay C$0.56 per share in cash for the group that is focused on the Saddle Hills uranium project in Eastern Mongolia.
CNNC international is ultimately controlled by China National Nuclear Cooperation, a major uranium development and nuclear fuel company.
The offer represents a 51 percent premium to Western's closing price of CDN$0.37 on March 24 2009, and a 75 percent premium to Western's 20-day volume weighted average price for the period ending on the same day.
