Base Resources Ltd - Australia and Africa-focused mineral sands company - Says Competition Authority of Kenya on Monday approves combination with US firm, Energy Fuels Inc. Notes other regulatory approvals are awaited from Australia‘s Foreign Investment Review Board and the Malagasy Competition Council. Base Resources expects deal to be completed by mid-September.

In April, Base Resources agreed to a takeover by Energy Fuels, saying the combination will ‘establish a global leader’ in the critical minerals sector. Base Resources said its shareholders will receive 0.026 of an Energy Fuels share for each of its own shares, plus a special dividend of 6.5 Australian cents per share, giving it a total equity value of A$375 million or around £195.5 million.

Current stock price: 13.75 pence

12-month change: up 55%

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