M&A Deal Summary

enCore Energy Acquires Westwater Resources - North American Uranium Business

On September 8, 2020, enCore Energy acquired metals/mining company Westwater Resources - North American Uranium Business from Westwater Resources

Acquisition Highlights
  • This is enCore Energy’s 2nd transaction in the Metals/Mining sector.
  • This is enCore Energy’s 2nd transaction in the United States.
  • This is enCore Energy’s 1st transaction in Colorado.

M&A Deal Summary

Date 2020-09-08
Target Westwater Resources - North American Uranium Business
Sector Metals/Mining
Buyer(s) enCore Energy
Sellers(s) Westwater Resources
Deal Type Divestiture

Target

Westwater Resources - North American Uranium Business

Centennial, Colorado, United States
Westwater Resources, Inc. - North American Uranium Business engages in the production and exploration of the mining.

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Buyer(S) 1

Buyer

enCore Energy

Vancouver, British Columbia, Canada

Category Company
Sector Metals/Mining
DESCRIPTION

enCore Energy Corp. is focused entirely on domestic U.S. uranium assets. The Company has a 100% interest, with no holding costs, on 115,000+ acres (46,400 ha) of private mineral rights in New Mexico, including the Crownpoint and Hosta Butte uranium deposits. These deposits contain an Indicated mineral resource of 26.6 MM pounds of U3O8 at an average grade of 0.105% eU3O8 and an Inferred mineral resource of 6.1 MM pounds of U3O8 at an average grade of 0.110% eU3O8.


DEAL STATS #
Overall 2 of 2
Sector (Metals/Mining) 2 of 2
Type (Divestiture) 2 of 2
State (Colorado) 1 of 1
Country (United States) 2 of 2
Year (2020) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-02-08 Metamin US

Arizona, United States

Metamin US, Inc. is an own and operator of 13,605 acres of prospective uranium mining properties located in the States of Arizona, Utah and Wyoming, USA, along with drill core, geophysical data, drilling data and equipment related to the properties.

Buy $55M

Seller(S) 1

SELLER

Westwater Resources

Centennial, Colorado, United States

Category Company
Founded 1977
Sector Energy Services and Equipment
Employees24
DESCRIPTION

Westwater Resources is focused on developing energy-related metals. Westwater Resources was founded in 1977 and is based in Centennial, Colorado.


DEAL STATS #
Overall 1 of 1
Sector (Metals/Mining) 1 of 1
Type (Divestiture) 1 of 1
State (Colorado) 1 of 1
Country (United States) 1 of 1
Year (2020) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-12-13 Alabama Graphite

Toronto, Ontario, Canada

Alabama Graphite Corp. is a Canadian-based flake graphite exploration and development company as well as an aspiring battery materials production and technology company. Alabama Graphite operates through its wholly owned subsidiary, Alabama Graphite Company, Inc. (a company registered in the state of Alabama). With an advancing flake graphite project in the United States of America, Alabama Graphite intends to become a reliable, long-term U.S. supplier of specialty high-purity graphite products. Alabama Graphite Corp. is focused on the exploration and development of its flagship Coosa Graphite Project in Coosa County, Alabama, and its Bama Mine Project in Chilton County, Alabama as well as the research and development of the manufacturing and technological processing of battery materials.

Buy -