Isoenergy Stock Price, News & Analysis

IsoEnergy (TSX: ISO, OTCQX: ISENF) and Anfield Energy have entered into a definitive agreement where IsoEnergy will acquire all outstanding Anfield shares. Anfield shareholders will receive 0.031 IsoEnergy shares for each Anfield share. Post-transaction, IsoEnergy and Anfield shareholders will own approximately 83.8% and 16.2% of the combined company, respectively.

The transaction values Anfield at approximately $126.8 million, with a 32.1% premium to its share price. This acquisition includes the Shootaring Canyon Mill, one of only three licensed uranium mills in the U.S., and a portfolio of uranium and vanadium projects. The combined entity aims to enhance near-term U.S. uranium production capacity and secure significant operational synergies.

The transaction is expected to close in Q4 2024, subject to shareholder and regulatory approvals. In connection, IsoEnergy has provided a $6 million bridge loan to Anfield for working capital.

IsoEnergy (TSX: ISO) (OTCQX: ISENF) has announced that its President, Tim Gabruch, will be resigning from his position effective August 31, 2024, to pursue other opportunities. The company's CEO and Director, Philip Williams, expressed gratitude for Gabruch's leadership and contributions to positioning the company for future growth. Gabruch, in turn, expressed pride in the team's achievements and confidence in IsoEnergy's future success.

Despite this management change, IsoEnergy remains focused on advancing its portfolio of assets, particularly the Larocque East Project in Canada's Athabasca Basin and its near-term production potential in the U.S. The company emphasized its commitment to operational excellence and sustainability, noting the growing interest from utilities in its projects.

IsoEnergy has completed Ambient Noise Tomography (ANT) surveys at its Larocque East Project in the eastern Athabasca Basin, covering an additional 20 km2. The surveys have identified six new high-priority drill targets on strike of the Hurricane deposit to the east. To date, 23 of 27 planned diamond drill holes have been completed, totaling 9,660 meters.

Key highlights include:

• ANT surveys have proven effective in guiding exploration, successfully tracing low-velocity responses correlated with alteration and structural disruption.
• Six new drill targets (E through J) identified within two conductor corridors.
• Early drilling results show strong hydrothermal alteration, typically associated with uranium mineralization.
• The overall hydrothermal system extends over a proven strike length of more than 9 km along a known conductor corridor.

The company plans to expand its current summer drilling program to test the newly identified target areas.

IsoEnergy (TSX: ISO, OTCQX: ISENF) has successfully reopened the main decline at the Tony M uranium mine in Utah on July 26, 2024. The company is initiating a comprehensive work program to restart uranium production in 2025. Key highlights include:

1. Ongoing rehabilitation by Tomcat Mining, expected to take 8-10 weeks.
2. Engagement of top-tier consultants SRK Consulting and Call & Nicholas for ventilation and ground control plans.
3. Upcoming underground and surface mapping, including a LiDAR survey.
4. Planned technical and economic study to establish production rates and costs.
5. Expansion of land position in the Henry Mountains by over 400%.

CEO Philip Williams emphasized the strategic importance of restarting production amid rising uranium prices and growing demand for nuclear power.

IsoEnergy (TSX: ISO; OTCQX: ISENF) has completed the sale of its Argentina portfolio to Jaguar Uranium Corp. The transaction includes the Laguna Salada Project in Chubut and the Huemul Project in Mendoza. As consideration, IsoEnergy receives:

1. 2,000,000 Jaguar shares valued at USD$10 million
2. A 2% NSR royalty on Laguna Salada (1% buyback option)
3. A 1% NSR royalty on part of Huemul
4. An option for an additional 1% NSR on the rest of Huemul

The deal aligns with IsoEnergy's strategy to maximize shareholder value and focus on core jurisdictions in the US, Canada, and Australia. It adds approximately C$13.6 million to IsoEnergy's equity portfolio, estimated at C$16.9 million pre-transaction.

IsoEnergy (TSXV: ISO, OTCQX: ISENF) has received final approval to list its common shares on the Toronto Stock Exchange (TSX). The transition from the TSX Venture Exchange (TSXV) to the TSX will commence on July 8, 2024, with the company's shares trading under the symbol 'ISO'. As part of this upgrade, IsoEnergy's shares will be voluntarily delisted from the TSXV prior to the commencement of trading on the TSX. This move marks a significant milestone for IsoEnergy, providing increased visibility and liquidity for the company's shareholders.

IsoEnergy has announced that it will settle portions of its interest payments to Queen's Road Capital Investment in shares.

Under the terms of the 2020 and 2022 QRC Debentures, IsoEnergy owes QRC a combined interest of US$455,000 as of June 30, 2024.

To settle this, IsoEnergy will issue 24,752 shares, worth US$74,998.56, and 16,501 shares, worth US$49,998.03, at a price of US$3.03 per share.

The interest payable in shares amounts to 2.5% per annum, based on the volume-weighted average trading price on the TSX Venture Exchange over the last 20 days before the due date.

The issuance of shares is subject to TSXV approval.

IsoEnergy (OTCQX: ISENF) has received conditional approval to list on the Toronto Stock Exchange (TSX), graduating from the TSX Venture Exchange. Final approval is pending customary TSX conditions. Upon approval, shares will trade under the symbol 'ISO' with no change required from current shareholders.

IsoEnergy also announced the effective continuance from British Columbia to Ontario, approved by shareholders on May 22, 2024. Additionally, IsoEnergy has entered into an agreement to acquire the Bulyea River project, a high-uranium site in the Athabasca Basin. The acquisition includes staged cash or share payments totaling C$1 million over three years, a C$2 million exploration commitment, and a C$1 million payment upon publishing a technical report with a current mineral resource estimate. A 2% net smelter returns royalty is also part of the agreement, with the option to repurchase 1% for C$1 million.

The acquisition is contingent on TSXV approval and other customary conditions.

IsoEnergy has commenced a 30-hole summer exploration program in the eastern Athabasca Basin, focusing on its Larocque East and East Rim projects. The program will involve 9,825 meters of drilling, following positive results from the winter program. The Larocque East project will see 27 drill holes covering 8,775 meters, targeting multiple areas identified through previous surveys. Additionally, an Ambient Noise Tomography survey is in progress. At the East Rim project, 3 drill holes spanning 1,050 meters will target geophysical anomalies. Other projects will include various surveys to develop exploration targets. IsoEnergy also announced the acquisition of the Bulyea River project, pending regulatory approval, which will focus on high uranium targets in 2024 and drilling in 2025.