An expected $2.2 billion bid for uranium explorer take out Resources by a Chinese state owned nuclear power company is being labelled as the boldest show of hold for the sector since the Japanese nuclear disaster in March.
The takeover speculation was spark after Guangdong Nuclear Power reopened talks with Extract's biggest shareholder, which hold nearly 43 per cent of the share register, according to a media statement in the UK over the weekend.
Australian-listed Extract's intended Husab uranium project in Namibia is the focus of Guandong's intentions it is a 15 million pound a year mine that take out says will be one of the world's three largest uranium mines take out placed its shares in a trade halt after it had climbed 82 cents, or 10.2 per cent, to $8.86 following an hour of trade
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