TORONTO (miningweekly.com) – Hathor Exploration, which is exploring for uranium in Saskatchewan, expects to have some serious buyers knocking on its door, as it firms up resources at its project and as utilities around the world rush to secure future supplies of the nuclear fuel, spokesperson Tony Nunziata said on Saturday.

The company has already signed “more than ten” confidentiality agreements, mostly with Asian companies, he said in an interview at the Toronto Resource Investment conference.

Nunziata said he wouldn't be surprised if the firm was acquired at a premium as early as next year.

“We've been at it now for two years. And with our winter exploration programme coming up, if we do connect the dots here, I can't see how someone can't come after us, especially with the relationships that we've been building with these Chinese groups.”

Hathor's Midwest Northeast property in Saskatchewan, has Areva and Cameco as very close neighbours, including the McClean Lake mill, which Areva and Cameco own with Denison Mines, and which is currently underutilised because it was to have been treating ore from the delayed Cigar Lake project.

One scenario is that either Areva or Cameco could team up with a Chinese partner to make the acquisition.

“For us, the plan is to build the size of the prize and sell it hopefully at a premium,” Nunziata said.

“We've gone to Asia several times now and we are going back next month once we come up with this initial resource estimate from our drilling.”

“We've got some a high interest level out of some of the big power utility companies...they are definitely watching us closely,” he said.

Hathor has several sets of news out in the next month or so, including drill results and a resource estimate from its Roughrider zone, as well as initial data from a new zone about 200 m away.

“The thinking is that this new zone could be an extension of the Roughrider zone, and if it is that will obviously be huge for the company,” he said.