Security holders of Anatolia Energy Ltd. have expressed their support and approved a proposed merger between the company and Uranium Resources, Inc. (URI).
“We thank the Anatolia security holders for their strong support for this transaction, making URI the world’s next low-cost uranium producer with the Temrezli Project,” Christopher Jones, CEO and President of URI said. “We look forward to welcoming this broader base of shareholders in Australia and around the world.”
The Temrezli project is currently in its development stages, Anatolia Energy has completed the pre-feasibility study for the area.The project will consist of a central processing plant that will manage processing operations of uranium in the Temrezli field.
For this merger to be finalized it will need to be approved by the Federal Court of Australia. A hearing will be held in two weeks. If approved, the deal is expected to close around Nov. 9.
Anatolia Energy is focused on the exploration and development of uranium mining operations in the central Anatolian region of Turkey.
URI currently has two licensed processing facilities and approximately 17,000 acres of uranium recovery projects in Texas. The company is authorized to recover up to three million pounds of uranium on an annual basis.
