Here we go againI owned Dennison when the Japanese Nuclear Reactors were impacted. The stock was really doing well at almost $2.00 and on the way up.
I eventually sold at about $1.12 and shortly after Dennison began the downward slide toward fifty cents and has not been above a dollar since.
It will be soon.
It's not always how much you pull out of the ground whether it's gold, silver, oil or urnanium. What's probably more important is how much you spent to do it.
With the selection of ISR mining for the Phoenix deposit Dennison is bringing the world's lowest cost uranium mining method to the world's highest grade uranium deposits.
This is huge. It makes it much more doable even if the uranium prices do not rise dramatically in the near future.
This stock has always been a keeper. Pretty much everything that went wrong for them was out of their control. I'm glad to be back in it.
That was me buying at the start of trading today at .88 cents. I don't like dicking around to get a price three cents less. So I wouldn't be disappointed if the stock closed a bit lower then it opened.
I also owned JNR Resources when Rick Kusmirski discovered the Maverick Zone at Moore Lake. The stock hit a high of around $4.60 before falling back. About nine months prior the stock could have been had for around three cents at it's lowest point just before Rick took it over. The previous guy in charge passed away and I guess his wife just dumped all his millions of shares below five cents. The rest as they say, is history.
IN 2012, Dennison acquired JNR.
Rick took JNR from a $5 million market valuation to over $300 million, and the two main projects he had—Moore and Falcon Point—now belong to Skyharbour. "He built a multi hundred million dollar company and we have gone back and acquired the two main projects and a few others for approximately C$4 million."
Denison is Skyharbour's largest shareholder, owning about 10% of its shares. However, Denison did not want to completely part ways with the project given the potential and has the option to buy back a 51% interest.
Dennison wanted to concentrate on Wheeler so it made sense to option Moore lake to Skyharbor.
The most important thing to keep in mind is that Rick Kusmerski is now CEO of Skyharbor, and if anyone can find the elephant at Moore Lake, it's Rick. Skyharbor (SYH.V) is also on the move. It has climbed for about 31 cents to close today at a new 52 week high of .56 cents.
It would seem the prudent move would be to own both Skyharbor and Dennison. It will be a win, win one day soon.
Now that I have my Dennison, my plan is to go with SYH as well.
Anyway...some food for thought.
Best of luck to all of you. It's been a long await, but I truly believe it's time for Uranium to shine.