Paladin Energy's (ASX:PDN) acquisition of Fission Uranium combines key projects in Africa and Canada, positioning the company to increase uranium production in a market facing tight supply, Euroz Harlteys said in a Dec. 24 note.

The deal brings together the Langer Heinrich mine in Namibia, along with the Michelin and Patterson Lake South projects in Canada, Euroz Hartleys said.

Paladin Energy recently completed the acquisition of the Canada-based Fission Uranium via a plan of arrangement.

Euroz Hartleys has no rating, estimate, price target, or recommendation for Paladin Energy.

Paladin Energy's shares were up almost 3% in recent Monday trade.