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Market: TSX
Sector: General Mining
Epic: TSX:DML
News: Latest news
Web Site: Denison Mines Corp
Other Articles: 07-08-200924-06-200915-06-2009

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Thursday September 02, 11:00Baobab Resources identifies distinct ore domain at Tete’s South Zone

Baobab MD Ben James said the latest drilling results from the Tete project's South Zone characterise a distinct, higher mass recovery, ore domain.

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Thursday September 02, 08:15Indonesia edges closer toward uranium mining and nuclear power

After nearly five decades of national debate on the issue, Indonesia's central government may finally be ready to develop a national nuclear policy, which may lead to domestic uranium mining.

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Wednesday September 01, 01:25Green Dragon Gas reports significant growth as China’s thirst for energy continues

China's thirst for energy resources has continued with an increased focus on domestic supplies of gas, Green Dragon Gas chairman Randeep Grewal said today. In the company's interim results, [...]

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Denison Mines Corp

Denison Mines Corp

Denison Mines Corp. is an intermediate uranium producer in North America, with mining assets in the Athabasca Basin region of Saskatchewan, Canada and the southwest United States including Colorado, Utah, and Arizona. Further, the Company has ownership interests in two of the four conventional uranium mills operating in North America today. The Company also has a strong exploration and development portfolio with large land positions in the United States, Canada, Mongolia and Zambia.
Tuesday, January 06, 2009

Denison Mines raises additional C$41 million, shares slip

Uranium and vanadium explorer and producer, Denison Mines Corp (TSX:DML) slipped 4% in trading after the company announced that it would raise at least C$41.25 million by issuing 25 million shares at $1.65 per share in a “bought deal” with Cormark Securities, GMP Securities, Dundee Securities and Raymond James.  The underwriters also have the option to increase to total placing by a further 3.75 million shares, which would in theory raise a further $6.2 million for Denison Mines.

Uranium companies have witnessed a strong bounce in their share prices in recent weeks, lifted by a stronger uranium spot price. This has helped a number of companies return to the market to raise capital in what is otherwise a still a very difficult market to raise funds.  Denison Mines raised approximately $8 million only a matter of weeks ago at $1.10 per share through a flow-through share offering.


Shares in Denison Mines traded as high as $9.60 per share in the last twelve months, and bottomed out in the fourth quarter of 2008 at just 69 cents.  Today, shares in the mid-tier uranium producer slipped 4% to $1.77 per share.


According to the company’s website, Denison's 2008 production from its two mills is estimated to be approximately 1.7 million pounds of U3O8 and 1.5 to 2.0 million pounds of vanadium. 2009 production is estimated to be 2.0 to 2.4 million pounds of U3O8 and 2.6 to 3.2 million pounds of vanadium.

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