IsoEnergy Ltd. (TSXV:ISO) – Iso-lating the Next Significant North American Uranium Developer

We are initiating coverage of IsoEnergy Ltd. (TSXV:ISO) with a BUY rating and C$8.00/sh target price. We believe that the recent merger between IsoEnergy and Consolidated Uranium was transformational for both firms. ISO appears set to become a leading diversified uranium firm, with management and technical expertise required to scale numerous projects in various stages and within several top-tier jurisdictions. We believe combined assets are worth ~C$1.4 billion. Priorities remain growth and development of Hurricane in SK, the world’s highest grade uranium deposit, returning three producing mines to operation in UT, and further M&A. We believe IsoEnergy should be a key consideration for investors looking to leverage rising uranium prices. With the closing of the ISO-CUR merger, we drop coverage of Consolidated (was TENDER, C$5.00 target).