As per the terms, Macusani Yellowcake would buy Minergia, a subsidiary of Azincourt, by issuing 30% of the outstanding shares of Macusani post-transaction.
If the deal is finalized, Macusani would have one of the largest undeveloped uranium assets across the world with combined resource of 49.67 M lbs of measured and indicated (M&I) contained U3O8 and 47.49 M lbs of inferred contained U3O8.
Azincourt president and CEO Ted O’Connor earlier said, "Once combined, Macusani will offer one of the largest contiguous uranium resource bases, the potential for substantial synergies from a combined mine plan and exploration upside which is very rare to find."
Macusani Yellowcake primarily focuses on the exploration of its properties on the Macusani Plateau in southeastern Peru. It owns a 99.5% interest in concessions that cover over 90,000 hectares.
