Fission Uranium shares spike on promising resource estimate

Mon Jan 12, 2015 10:09am EST
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Jan 12 (Reuters) - Shares of Fission Uranium Corp jumped 19 percent in early trading on Monday after the company late on Friday reported a promising estimate of its mineral resource in northern Saskatchewan.

Kelowna, British Columbia-based Fission said its deposit at Patterson Lake South was estimated to contain 105.5 million pounds of uranium, surpassing some analysts' expectations.

Potential acquirers of the company are likely to take notice, said Dundee Capital Markets analyst David Talbot.

Fission shares climbed 18.8 percent, or 19 Canadian cents, to C$1.20 in Toronto. (Reporting by Rod Nickel in Winnipeg, Manitoba; Editing by Lisa Von Ahn)