10:58 AM EDT, 04/22/2024 (MT Newswires) -- Energy Fuels ( UUUU ) shares fell 10% in recent Monday trading after the company agreed to buy Base Resources for AU$375 million ($241.2 million) in cash and stock to add the Toliara project in Madagascar and boost uranium production.

For each share they own, Base Resources investors will get 0.026 Energy Fuels ( UUUU ) share and AU$0.065 in cash through a special dividend, Lakewood, Colorado-based Energy Fuels ( UUUU ) said Sunday in a statement.

The board of Base Resources unanimously backed the transaction, and the company's two major shareholders intend to vote for the deal, Energy Fuels ( UUUU ) said.

Base Resources is based in Perth, Australia,