Denison Mines Stock Price, News & Analysis

Denison Mines Corp. has successfully completed the sale of 32,500,000 common shares of GoviEx Uranium Inc. for gross proceeds of $15,600,000. Additionally, Denison issued the same number of common share purchase warrants, allowing holders to acquire GoviEx shares at an exercise price of $0.80 over 18 months. If fully exercised, this could add $26,000,000 in gross proceeds to Denison. The company maintains a strong position with a 95% interest in the Wheeler River Uranium Project, the largest undeveloped uranium project in Saskatchewan.

Denison Mines Corp. (DNN) announced its agreement to sell 32.5 million shares and warrants of GoviEx Uranium Inc. in a private transaction, expected to close by October 2021. Denison will receive gross proceeds of $15.6 million from the share sale and an additional potential $26 million upon full warrant exercise. This sale decreases Denison's stake in GoviEx from 12.07% to 6.05%. The proceeds will be used for general corporate purposes. Following this disposition, Denison will file an early warning report reflecting the reduced ownership.

Denison Mines Corp. has entered into an equity distribution agreement for an at-the-market offering program, allowing for the sale of common shares in the aggregate amount of up to USD $50 million through Cantor Fitzgerald and Scotia Capital. The offering will take place on the TSX and NYSE American until October 16, 2023, subject to termination. Proceeds will fund mineral property evaluations, project engineering, and administrative expenses. The company emphasizes that actual proceeds may be significantly less than the USD $50 million cap.

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.