Westwater Resources up after rejecting Idaho Strategic Resources' takeover bid

Westwater Resources

22/12/2022 15:03

** Shares of Westwater Resources Inc  WWR.A  gain 4.2% to
$0.82
    ** The graphite developer rejects an unsolicited takeover
proposal from Idaho Strategic Resources  IDR.N   urn:newsml:reuters.com:*:nBwbVc58Ra
    ** Co says IDR's proposal lacks technical or strategic
synergies as it appears to discard its Kellyton Plant, which has
been under construction for about one year
    ** WWR's cash position sits at $100 mln as of Sept 30
    ** IDR stock up 1.7% at $5.90
    ** Including session's gains, WWR stock down 64% YTD
 (Reporting by Arshreet Singh in Bengaluru)
 ((Arshreet.Singh@thomsonreuters.com))