Cameco says it plans to review a rival company’s offer for a lucrative uranium deposit In northern Saskatchewan.
Spokesman Gord Struthers notes Rio Tinto has announced an intention to file a bid for Hathor Exploration, the group that owns the Roughrider uranium deposit.
In August, Cameco offered Hathor Shareholders $3.75 a share for the company.
However, that appears to have been trumped by reports Rio is ready to offer $4.15 a share.
Struthers says they are still reviewing the situation and will contact the Hathor shareholders after that.
Cameco’s original bid for the company expires on October 31st.