M&A Deal Summary

Energy Fuels Acquires Base Resources

On April 22, 2024, Energy Fuels acquired metals/mining company Base Resources from Pacific Road Capital for 375M AUD

Acquisition Highlights
  • This is Energy Fuels’ 2nd transaction in the Metals/Mining sector.
  • This is Energy Fuels’ 0th largest (disclosed) transaction.
  • This is Energy Fuels’ 1st transaction in Australia.

M&A Deal Summary
Date 2024-04-22
Target Base Resources
Sector Metals/Mining
Buyer(s) Energy Fuels
Sellers(s) Pacific Road Capital
Deal Type Add-on Acquisition
Deal Value 375M AUD

Target

Base Resources

West Perth, Australia
Base Resources develops mineral resources in Africa. It primarily owns 100% interests in the Kwale Mineral Sands project located in Kenya. Base Resources was founded in 2007 and is based in West Perth, Australia.

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Buyer(S) 1

Buyer

Energy Fuels

Lakewood, Colorado, United States
Category Company
Founded 1987
Sector Metals/Mining
Employees159
Revenue 38M USD (2023)
DESCRIPTION

Energy Fuels is an integrated US-based uranium mining company, supplying U3O8 to major nuclear utilities. Energy Fuels holds three of America's key uranium production centers, the White Mesa Mill in Utah, the Nichols Ranch Processing Facility in Wyoming, and the Alta Mesa Project in Texas. Energy Fuels was founded in 1987 and is based in Lakewood, Colorado.

DEAL STATS #
Overall 4 of 5
Sector (Metals/Mining) 2 of 2
Type (Add-on Acquisition) 2 of 3
Country (Australia) 1 of 1
Year (2024) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-05-06 GeoInstruments Logging - Prompt Fission Neutron Borehole Logging Technology and Equipment

Texas, United States

GeoInstruments Logging LLC - Prompt Fission Neutron (PFN) Borehole Logging Technology and Equipment comprise four (4) PFN tools; nine (9) gamma tools with point resistivity, spontaneous potential, and deviation; two (2) low-mileage, heavy-duty logging trucks with logging and associated equipment; power supplies, computers, communication, and other technology; and all associated intellectual property, including all internal details of the tools, circuit board diagrams, firmware code, software, manuals, instructions, patents and the sole right to utilize and license the acquired PFN technology globally.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-08-19 RadTran

Centennial, Colorado, United States

RadTran is a technology development company focused on closing critical gaps in the procurement of medical isotopes. RadTran was formed in 2012 and is based in Centennial, Colorado.

Buy -

Seller(S) 1

SELLER

Pacific Road Capital

Sydney, Australia

Investor Investor Investor Investor

Category Private Equity Firm
Founded 2006
PE ASSETS 796M USD
Size Middle-Market
Type Sector Focused
DESCRIPTION

Pacific Road Capital is a private equity manager investing in the global mining industry. PRC provides expansion and buyout capital for mining projects, mining-related infrastructure, and mining services. The Firm's target investment size is US $15 to $40 million. PRC will consider projects located in resource rich areas including Australia, Asia, Africa, and the Americas. PRC's investment horizon is three to five years. Pacific Road Capital was founded in 2006 and is located in Sydney, Australia.

DEAL STATS #
Overall 6 of 6
Sector (Metals/Mining) 6 of 6
Type (Add-on Acquisition) 4 of 4
Country (Australia) 1 of 1
Year (2024) 1 of 1
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-07-01 Alio Gold

Vancouver, British Columbia, Canada

Alio Gold is an exploration, development, and operation of mineral resource property in Mexico. The company primarily mines gold and silver. Alio Gold was founded in 2005 and is based in Vancouver, Canada.

Sell -
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