Welcome to our dedicated page for Denison Mines news (Ticker: DNN), a resource for investors and traders seeking the latest updates and insights on Denison Mines stock.
Denison Mines Corp. (NYSE American: DNN; TSX: DML) is a leading uranium exploration and development company headquartered in Toronto, Canada. Operating primarily in the Athabasca Basin region of northern Saskatchewan, Denison's key focus is on discovering and developing high-grade uranium deposits. Their flagship project, Wheeler River, is the largest undeveloped uranium project in the eastern part of the Athabasca Basin and includes the high-grade Phoenix and Gryphon deposits. Denison holds a 95% effective interest in this project.
Denison also has substantial ownership interests in several other significant uranium projects. This includes a 22.5% interest in the McClean Lake Joint Venture, which operates the McClean Lake uranium mill, and various uranium deposits. The McClean Lake mill is currently processing ore from the Cigar Lake mine under a toll milling agreement. Moreover, Denison holds a 25.17% interest in the Midwest Main and Midwest A deposits and a 69.35% interest in the Tthe Heldeth Túé (THT) and Huskie deposits on the Waterbury Lake property.
In addition to these assets, Denison is involved in several other projects through its 50% ownership of JCU (Canada) Exploration Company, Limited. These projects include the Millennium project (JCU, 30.099%), the Kiggavik project (JCU, 33.8118%), and the Christie Lake project (JCU, 34.4508%). Denison's exploration portfolio covers approximately 385,000 hectares in the Athabasca Basin, making it a dominant player in this uranium-rich region.
Denison is advancing its flagship Wheeler River project with significant strides, including the completion of a feasibility study for the Phoenix deposit as an ISR mining operation and an updated pre-feasibility study for the Gryphon deposit as a conventional underground mining operation. Both deposits are poised to be among the lowest-cost uranium mining operations globally. The company has also made substantial progress in the permitting process for the Phoenix ISR operation, with a draft Environmental Impact Statement submitted and ongoing regulatory reviews.
Denison Mines is committed to sustainable development, as evidenced by its Shared Prosperity Agreement with English River First Nation and its Sustainable Communities Investment Agreement with Northern Saskatchewan municipalities. These agreements aim to support community-led initiatives and ensure long-term, positive impacts beyond the lifespan of their mining projects.
With a strong financial position, strategic partnerships, and a diversified portfolio of high-grade uranium assets, Denison Mines Corp. is well-positioned to play a crucial role in the global nuclear energy sector, supporting the increasing demand for clean, reliable energy sources.
Grounded Lithium Corp. (OTCQB: GRDAF) reported its financial and operating results for Q1 2024. Key highlights include a net comprehensive loss of CAD 507,607, a significant improvement from the CAD 1,682,288 loss reported in Q1 2023. The company also announced entering into agreements with Denison Mines Corp., which are expected to fund a field pilot for the KLP project. Operating cash flow used was CAD 411,756, down from CAD 1,730,836 in the same period last year. Capital expenditures saw a disposition of CAD 800,000. The company's working capital surplus was CAD 303,222, down from CAD 890,061 a year earlier. Shares outstanding increased to 78,279,227 from 69,656,423. Further details can be found in their financial statements and management's discussion on their website or sedarplus.ca.
Denison Mines Corp. reported the successful election of directors at the Annual General Meeting of Shareholders, with nominees elected and all business items approved. David Cates expressed gratitude to outgoing Board Chair Ron Hochstein and announced Jennifer Traub as the new Board Chair. Detailed voting results were provided, indicating overwhelming support for the elected directors.
Denison Mines Corp. reported financial and operational results for Q1 2024, highlighting the transition to detailed design engineering for the Phoenix ISR Project, planned restart of McClean Lake mining operations, signing of a Sustainable Communities Investment Agreement, acquisition of MaxPERF Tool Systems, sale of uranium, and an earn-in agreement with Grounded Lithium Corp. The company's strategy to focus on high-grade uranium deposits in the Athabasca Basin region has led to significant appreciation in value, positioning Denison for future growth.
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