Australia's Global Uranium jumps after getting regulatory nod for buyout

Frontier Nuclear and Minerals

09/12/2025 04:28

** Shares of Global Uranium and Enrichment GUE.AX rise as much as 3.1% to A$0.066, their highest level since October 21

** Uranium explorer says mineral explorer Snow Lake Resources LITM.O receives written confirmation from the Foreign Investment Review Board (FIRB)

** Says confirmation means that the Australian government has 'no objection' to Snow Lake Resources' proposed acquisition of Global Uranium

** Snow Lake Resources had proposed to acquire GUE shares that it does not already own for an equity value of A$44.5 million ($29.52 million) in October

** GUE has risen 10% this year, including session's moves

($1 = 1.5076 Australian dollars)

 (Reporting by Aamir Sheik Khalid in Bengaluru)

 ((Aamir.SheikKhalid@thomsonreuters.com))