Denison Mines offers to buy OmegaCorp

[Denison Mines, 5 December] Denison Mines Corp of Canada announced a C$154 million ($134 million) takeover offer for OmegaCorp Ltd of Australia. The offer calls for Omega to spin off its Mavuzi assets in Mozambique to Omega shareholders, while giving Denison the uranium rights. Of most interest to Denison is the advanced-stage Kariba project in Zambia, which is expected to enter production by 2010. The takeover offer came less than a day after Denison completed its merger with International Uranium Corp (IUC).

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