Idaho Strategic Resources, Inc. (NYSEAM:IDR) submitted an unsolicited proposal to acquire Westwater Resources, Inc. (NYSEAM:WWR) for $67.2 million on December 15, 2022. As of December 19, 2022, the Board and management determined that the proposal is not in the best interests of the Company to pursue further. As IDR lacks sufficient financial resources to advance its business, and would likely siphon resources from Westwater to fund unproven exploration projects; lacks the resources to complete Phase I construction of the Kellyton Plant; and cannot even cover the transaction costs associated with own proposal.

As of January 25, 2023, Idaho sent a letter to the Board of Directors to acquire all of the outstanding shares of common stock of Westwater at a ratio of 0.2353 Idaho Strategic shares for 1 WWR share is attractive and compelling. It values Westwater at approximately $1.36 per share.