en.Wedoany.com Reported - IsoEnergy and DISA Technologies have signed a definitive agreement to form DISA Uranium Corporation, combining IsoEnergy's five uranium mines and exploration assets in Utah, U.S., with DISA's high-pressure slurry abrasion technology, abandoned uranium mine remediation, and uranium resource recovery operations. The new company has concurrently secured $105 million in private placement commitments, with the transaction and financing expected to close in August 2026.
Under the agreement, IsoEnergy will contribute the Tony M Mine, Daneros Mine, Rim Mine, Sage Plain Project, and Flatiron Project to DISA Uranium in exchange for 1,677,350 common shares of the new company. Based on this round of committed financing, DISA Uranium's estimated fully diluted equity value is approximately $505 million; upon completion of the transaction, IsoEnergy will hold approximately 33% of the new company's fully diluted shares, making it the largest single shareholder.
The $105 million financing is supported by investors including Tembo Capital, BHP Ventures, Galvanize Climate Solutions, Valor Equity Partners, Evok Innovations, Halliburton Labs, and Veriten, with IsoEnergy planning to contribute $33 million. Proceeds are intended to advance conventional uranium mine development, abandoned mine remediation and resource recovery, U.S. domestic uranium processing infrastructure, and the new company's ongoing operations.
The Utah assets contributed to the new company include three previously producing conventional uranium mines with relevant permits in place, as well as two exploration projects. Among these, the Tony M Mine hosts NI 43-101-compliant indicated resources of 6.606 million pounds of triuranium octoxide and inferred resources of 2.218 million pounds of triuranium octoxide. Approximately 2,100 tonnes of mineralized material have been extracted through underground bulk sampling at the mine, with the data to be used in a preliminary economic assessment scheduled for 2026, providing a basis for potential restart sequencing and production decisions.
DISA's high-pressure slurry abrasion technology induces particle-to-particle collisions within high-velocity slurries, causing ore to fracture along natural mineral grain boundaries, concentrating target minerals into a smaller volume of material without relying on conventional grinding media or chemical reagents. Preliminary test results disclosed by the company for the Tony M Mine show that processed material mass can be reduced to approximately 22% of the original feed, with uranium recovery of approximately 88%, uranium grade enhancement of approximately 4 times, and a reduction of approximately 78% in the volume of material requiring transport and downstream processing.
The technology has already advanced beyond the pilot stage, with eight continuous-operation units deployed across mining applications on four continents. U.S. Nuclear Regulatory Commission documents show that DISA has been authorized to process abandoned uranium mine materials using high-pressure slurry abrasion technology, with the relevant permits covering multiple qualifying abandoned mine sites. The new company plans to combine this business with its Utah conventional uranium assets, recovering uranium and vanadium resources from historical mine waste while supplying feed for downstream processing facilities.
DISA Uranium also plans to advance a centralized uranium resource recovery and processing facility. The facility is currently in the planning stage and has not yet entered permitting, final investment decision, or construction phases. Closing of the transaction remains subject to the completion of the spin-off of DISA's non-uranium and non-vanadium mineral processing business, the closing of the $105 million financing, regulatory approvals, and other customary conditions.
