RBC Mining Research on DMLDenisonMines Corp. (TSX: DML; 1.25; AMEX: DNN)
Rating:Sector Perform
RiskQualifier: Speculative Risk
Wheeler River Results Provide Modest Upside
On October20, 2011, Denison reported results from thefinal 25 holes of its summer drilling program at WheelerRiver in Saskatchewan (60% DML).
We believethe 2011 Wheeler Riverdrill program provided limited success for Denison. The company noted that the resultsmay modestly increase the resource and that, in our view, is a positive.
We believethe geological potential at WheelerRiver is still promising,but will likely take more time and money to prove that there is a moresignificant orebody on the property.
Wereiterate our Sector Perform, Speculative Risk rating for Denison.