WWR - Idaho Strategic Resources pulls proposal to Buy Westwater

Idaho Strategic Resources ( NYSE: IDR ) said Tuesday it has withdrawn its proposal to acquire Westwater Resources ( NYSE: WWR ) for $1.36/share because of what it called "Westwater's continued unwillingness to constructively engage in discussions."

As a result, Idaho Strategic ( IDR ) said its best path forward is to execute its own "production-based" strategy.

Westwater ( WWR ) rejected the bid in December , which offered to acquire all the company's shares at a ratio of 0.2353 IDR shares for 1 WWR share.

Westwater Resources ( WWR ) wants to build a $202M graphite processing plant in Alabama but there is skepticism around the company's proprietary process for purifying graphite, Gold Panda writes in an analysis published on Seeking Alpha .

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