Denison Mines Stock Price, News & Analysis

Denison Mines Corp. has announced a binding agreement to acquire 50% of JCU Exploration Company from UEX Corporation for $20.5 million. This acquisition follows UEX's planned purchase of JCU for $41 million from Overseas Uranium Resources Development Co., Ltd. JCU holds significant uranium project interests in Canada, including stakes in Denison's Wheeler River project. The agreement includes a term loan arrangement to facilitate the acquisition, which is subject to certain conditions. Completion of UEX's acquisition is expected on or before August 3, 2021, pending shareholder approval.

Denison Mines Corp. has announced the appointment of Ron F. Hochstein as Chair of the Board and Brian Edgar as Lead Director. The decision was made during a meeting of independent directors following the Company's Annual General Meeting. New board members David Neuburger and Jennifer Traub join the board, bringing extensive experience in the mining sector. Hochstein emphasized the importance of advancing Denison's Phoenix In-Situ Recovery uranium project amid a recovering uranium market. The changes aim to enhance corporate governance.

Denison Mines Corp. (DNN) announced the successful election of its board nominees during the Annual General Meeting held on May 6, 2021, in Toronto. All other business items presented were approved. Key nominees received significant shareholder support, with David D. Cates and Jun Gon Kim achieving over 98% votes in favor. However, Ron F. Hochstein saw a notable 23.75% withheld vote, attributed to a lack of independence as identified by Institutional Shareholder Services. This outcome highlights investor confidence in board leadership while raising questions about Hochstein's role.

Denison Mines Corp. (DNN) reported its financial results for Q1 2021, showcasing a positive outlook bolstered by strategic financing initiatives. The company secured over $40 million in equity financing, allowing it to advance its Wheeler River Uranium Project, which is currently undergoing the Environmental Assessment and feasibility study processes. Denison also acquired 2.5 million pounds of U₃O₈ as a long-term strategic asset. With cash and investments totaling $96 million, the firm is well-positioned for future exploration and development.

Denison Mines Corp. has proposed a binding offer to acquire 100% ownership of Overseas Uranium Resources Development Co., Ltd.'s subsidiary, JCU Exploration Company, Limited. The offer includes cash payments totaling up to CAD$40.5 million and assumes JCU's existing liabilities. Key terms include a CAD$10 million refundable deposit and CAD$28 million upon closing. The acquisition aims to enhance Denison's interests in uranium projects, notably its 10% stake in the Wheeler River project, and is subject to shareholder approval from OURD.

On April 28, 2021, Denison Mines announced the termination of its Management Services Agreement (MSA) with Uranium Participation Corp (UPC) following UPC's conversion into the Sprott Physical Uranium Trust. Denison is set to receive an estimated termination payment of $5.3 million. This strategic shift allows UPC access to a U.S. listing, enhancing trading liquidity in a recovering uranium market. Denison will focus on its Athabasca Basin uranium projects, including the potential low-cost Phoenix uranium mine, following its longstanding management role with UPC.

Denison Mines Corp. (DNN) announced the initiation of its In-Situ Recovery (ISR) field test at the Wheeler River Uranium Project. The drilling equipment for five Commercial Scale Wells (CSWs) has been mobilized, with four successfully completed and the fifth expected soon. This ISR program aims to assess mining conditions and support a future feasibility study. The program includes installing additional monitoring wells and extensive hydrogeologic testing, expected to validate the effectiveness of the ISR method at the high-grade Phoenix uranium deposit.

Denison Mines Corp. (DNN) announced the discovery of high-grade uranium mineralization at its McClean Lake Joint Venture project. The winter 2021 exploration program included 15 drill holes, with drill hole MCS-34 showing impressive results of 5.04% eU₃O₈ over 14.0 metres. The mineralization is open along strike, indicating potential for further discovery. Denison's partnership with Orano Canada enhances its development prospects in the Athabasca Basin, with the McClean Lake mill having excess capacity to process future ore from these new discoveries.

Denison Mines Corp. (DNN) has entered agreements with the English River First Nation (ERFN) to advance its Wheeler River Uranium Project in Saskatchewan. The Participation and Funding Agreement, along with a Letter of Intent, aims to facilitate ERFN's engagement in the project's Environmental Assessment (EA) process, promoting economic opportunities and sustainable development. Additionally, an Exploration Agreement has been established to support cooperative exploration activities in ERFN's traditional territories. These collaborations aim for mutual benefits and respect for Indigenous rights in mining operations.