Denison Mines Stock Price, News & Analysis

Denison Mines Corp. has announced the initiation of an independent Feasibility Study (FS) for the Wheeler River Joint Venture's Phoenix uranium deposit, with Wood PLC appointed as the lead author. This decision follows successful de-risking activities confirming the project's technical viability. The FS aims to assess environmental stewardship, update mineral resource estimates, optimize mine design, enhance processing plant efficiency, and provide a Class 3 capital cost estimate. Denison holds a 95% ownership in Wheeler River, a crucial project in the Athabasca Basin region.

Denison Mines Corp. (TSX: DML, NYSE American: DNN) has successfully received a repayment of $20.45 million from UEX Corporation for a term loan associated with UEX's acquisition of JCU Exploration Company. This repayment concludes a prior loan arrangement established on August 3, 2021, during which UEX had already repaid $20.5 million. Denison has released the security tied to the loan, allowing UEX greater flexibility. CEO David Cates expressed enthusiasm about future collaborations on upcoming uranium projects in Canada.

Denison Mines Corp. (DNN) filed its Q2 2021 financial statements and MD&A, showcasing progress on the Phoenix uranium deposit, viewed as a low-cost mining opportunity amidst a recovering uranium market. The company enhanced its balance sheet through financings, acquiring a 50% interest in JCU for $20.5 million, and received $5.8 million from the conversion of Uranium Participation Corp. into the Sprott Physical Uranium Trust. Ongoing ISR field tests at Phoenix have yielded positive results, including a 50% increase in expected uranium recovery grades, while a significant high-grade uranium discovery was made outside the anticipated mining zone.

Denison Mines Corp. (DNN) announced positive interim results from metallurgical tests for the In-Situ Recovery (ISR) mining operation at the Phoenix uranium deposit. The uranium head-grade has been consistently above 10 g/L, leading to a decision to increase the anticipated head-grade by 50% to 15 g/L. This adjustment is expected to optimize operating parameters and reduce costs for both operations and capital expenditures. Phase 1 of the Phoenix deposit is projected to contain approximately 22.2 million pounds of U₃O₈ in Probable reserves.

Denison Mines Corp. has completed its acquisition of a 50% interest in JCU Exploration Company for $20.5 million, increasing its effective stake in the Wheeler River project to 95%. The acquisition consolidates Denison's position in uranium interests in Canada's Athabasca Basin, enhancing its portfolio with projects like Millennium and Kiggavik. Additionally, Denison provided UEX with a $40.95 million term loan to facilitate the acquisition of JCU, of which $20.5 million is deemed repaid upon the share transfer. The transaction is viewed as highly accretive for shareholders.

Denison Mines Corp. (TSX: DML, NYSE American: DNN) provided a progress update on its In-Situ Recovery (ISR) field test at the Phoenix uranium deposit, revealing additional high-grade mineralization of 22.0% eU₃O₈ over 8.6 metres in drill hole GWR-045. All five commercial-scale wells for the ISR test have been successfully installed, alongside nine monitoring wells. Plans for the remainder of 2021 include conducting multi-day pump tests and ion tracer tests to assess permeability and validate models of sub-surface pathways.

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.