Denison Mines Corp T.DML

Alternate Symbol(s): DNN

Energy

Denison Mines Corp. is a Canada-based uranium exploration and development company focused on the Athabasca Basin region of northern Saskatchewan, Canada. The Company holds a 95% interest in the Wheeler River Project, which is a uranium project. It hosts two uranium deposits: Phoenix and Gryphon. It is located along the eastern edge of the Athabasca Basin in northern Saskatchewan. It holds a 22.5% ownership interest in the McClean Lake joint venture (MLJV), which includes several uranium deposits and the McClean Lake uranium mill. It also holds a 25.17% interest in the Midwest Main and Midwest A deposits, and a 67.41% interest in the Tthe Heldeth Tue (THT) and Huskie deposits on the Waterbury Lake property. The Company, through JCU (Canada) Exploration Company, Limited, holds indirect interests in the Millennium project, the Kiggavik project, and the Christie Lake project. It also offers environmental services. The Company also uses MaxPERF drilling tool technology and systems.

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Denison Mines Corp > Uranium Update

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Comment by RayDonovan78on Mar 17, 2021 9:13pm

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Post# 32823056

RE:Uranium Update

And after all that Denison isnt even on their cover list nor watch list.

MightyMorf wrote:
Physical uranium initiatives are being undertaken by multiple uranium companies. Something new is happening in the uranium mining sector. Overnight two different companies have announced physical uranium initiatives – for two different reasons – but with the underlying expectation that future uranium prices will be higher than current. We suspect that these purchases could impact the spot market and drive uranium prices higher as uranium prices have declined by 10% this year to US$27.30/lb U3O8, after rising about 25% in H2/20 to end the year at US$30.05/lb. Both of these companies are past producers, having shut down mines only due to low uranium prices, with

management teams experienced in buying and selling uranium.

• Denison Mines Corp. (TSX:DML, Not Rated) is raising equity and buying 2.5 MM lbs of uranium in the spot market to pad its balance sheet to use as future project funding. Read more

• Uranium Energy Corp. (NYSEAM:UEC, Not Rated) is using its treasury to purchase of 0.4 MM lbs of uranium in the spot market to take advantage of low prices currently below most industry production costs, also to pad its balance sheet and provide to its marketing flexibility. Read more

Denison Mines announced a US$75 MM equity raise with plans to buy uranium yesterday. It intends to strategically buy ~2.5 MM lbs of physical uranium in the spot market as a long-term investment, intended to support potential future financing/construction of its Wheeler River Project. Denison appears to be taking advantage of weaker prices in anticipation of higher prices between now and when the funds are required to cover its C$290 initial Capex (as per its 2018 Wheeler River PFS). It could also use this uranium as potential liquid collateral down the road when it needs to raise debt.

https://cdn-ceo-ca.s3.amazonaws.com/1g5448h-20210316-Uranium-Update3.pdf