January 11, 2012 at 10:48:59 EST by Proactive Investors
Fission Energy (CVE:FIS) has been named one of the top picks for 2012 by capital markets firm Versant Partners, as Versant is expecting an "inevitable consolidation" from the uranium explorer.
Fission is engaged in the acquisition and exploration of uranium properties in Alberta, Saskatchewan and Quebec in Canada, as well as the Macusani District in Peru.
Versant has a "speculative buy" rating on Fission Energy with a $1.25 price target. Tuesday, Fission shares closed up 1.3 percent at $0.78.
Fission Energy's flagship Waterbury Lake project is located immediately west of Hathor Exploration’s (TSE:HAT) Roughrider uranium deposit, which is in the heart of a district that hosts over 110 million pounds of uranium.
Hathor was recently subject to a takeover battle in late 2011 between mining giants Cameco Corp. (TSE:CCO)(NYSE:CCJ) and Rio Tinto (NYSE:RIO)(LON:RIO), with the latter emerging as the winner with its $654 million friendly bid trumping Cameco's $625 million bid.
Fission's J East Zone at Waterbury is the likely western extension of Hathor's Rougrider deposit as the property line is the only thing separating the two, Versant noted.
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