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Globe says China likely has eyes for Fission

2012/3/23

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Globe says China likely has eyes for Fission, others
Ticker Symbol: C:FIS C:KIV C:RSC C:CCO

Globe says China likely has eyes for Fission, others

Fission Energy Corp (C:FIS)
Shares Issued 102,761,805
Last Close 3/21/2012 $0.67
Thursday March 22 2012 - In the News

Also Kivalliq Energy Corp (C:KIV) In the News
Also Strateco Resources Inc (C:RSC) In the News
Also Cameco Corp (C:CCO) In the News

The Globe and Mail reports in its Thursday edition that the uranium sector could start to sizzle with takeover action as China searches for feedstock to fuel its growing stable of nuclear reactors. The Globe's Shirley Won writes that a Chinese state-controlled newspaper recently said the country plans to buy more uranium mines abroad and is looking in Canada. China also expects to import more uranium this year as its nuclear program resumes after being halted following Japan's Fukushima nuclear disaster. China imports nearly all its uranium from Kazakhstan, Uzbekistan, Namibia and Australia. Versant Partners analyst Rob Chang says, "It comes as a surprise" that China is showing its hand by publicly targeting Canadian miners. China's interest could be a positive catalyst for potential acquisitions like Fission Energy, Kivalliq Energy and Strateco Resources, says Mr. Chang. The Globe says there is industry speculation that the Conservative government will relax its foreign ownership laws on uranium mines. Euro Pacific Canada analyst Merrill McHenry agrees that Fission Energy could be a strategic acquisition for China. If ownership rules do not change, China will need a partner like Cameco to mine uranium.

2012 Canjex Publishing Ltd.

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