Denison ~ An Objective UpdateFor those of you who haven't seen it, this April 18 article on Resource Investor provided a good objective summary of Denison Mines Corp.
LINK TO FULL ARTICLE
https://www.resourceinvestor.com/pebble.asp?relid=31000&tm=1&logout=yes
The headline is:
"Denison Won't Pay Premium for Undeveloped Uranium Properties"
Here is an extract summarizing the merged company's assets:
"Uranium producer Denison Mines Corp. [TSX:DML; AMEX:DNN] says it continues to seek acquisitions but won't buy properties in early development that carry a stiff price in today's heated market.
"CEO Peter Farmer told the company's annual meeting on Wednesday that the current uranium spot price of US$113 a pound, the highest it's been since the 1970s, is not sustainable for the long term.
“'We are looking for more uranium prospects and are talking to several parties,'” Farmer said after giving shareholders an update on the company's operations, which include mines in Canada and exploration, mine decommissioning and other activities in the United States, Mongolia, Zambia and Australia.
"In Canada, the Toronto company owns a 22.5% stake in the McClean Lake uranium mine and more than 25% of the Midwest project, both in northern Saskatchewan, one of the world's leading uranium-producing regions.
"Denison, which posted a net loss of $17 million in 2006, said it expects 2007 production to be about 700,000 pounds of uranium, which is used as fuel in nuclear power plants. It has a production goal of five million pounds by 2010.
"The recent frenzied global interest in nuclear power - fuelled partly by concerns about climate change caused by other traditional energy sources - was a key factor that inspired the merger of former Denison Mines Inc. with International Uranium Corp.
"The two companies formally united on Dec. 1 ...
“'Our balance sheet is extremely strong,' Farmer said, adding the company has 'effectively no debt.'
"Denison's assets include an interest in two of North America's four licensed and operating uranium mills, including full ownership of the White Mesa mill in Utah.
"Exploration projects include properties near Denison's mills in the Athabasca Basin in Saskatchewan and in the Colorado Plateau, Henry Mountain and Arizona Strip regions of the southwestern United States.
"The company also manages the publicly traded Uranium Participation Corp. [TSX:U], which invests in uranium oxide in concentrates and uranium hexafluoride.
"On Thursday, Denison is to begin trading on the American Stock Exchange under the ticker DNN."