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Denison Announces Additional High-Grade Uranium Mineralization Discovered at McClean South
Prnewswire· 2025-07-21 10:30
Core Viewpoint - Denison Mines Corp. has announced significant new intercepts of high-grade uranium mineralization at the McClean South zone, part of the McClean Lake Joint Venture, indicating potential for economic development in the area [1][3][12]. Exploration Results - A total of 14 out of 24 completed drill holes encountered significant uranium mineralization, confirming and expanding the mineralized footprint of the 8C and 8W pods [2][4]. - The exploration program aimed to expand the existing footprint of high-grade mineralization, with uranium mineralization greater than 0.05% eU (0.06% eU3O8) intersected in 14 of the 24 drill holes [4]. Notable Drill Results - Drill hole MCS-77 intersected 7.51% eU3O8 over 5.4 meters, including 10.88% eU3O8 over 3.7 meters [6]. - Drill hole MCS-80 intersected 3.5% eU3O8 over 11.2 meters, including 5.81% eU3O8 over 6.5 meters [6]. - Drill hole MCS-84 intersected 1.72% eU3O8 over 20.6 meters, including 4.43% eU3O8 over 4.0 meters [6]. Project Context - The McClean South zone is located approximately 600 meters south of the McClean North deposit, which has recently commenced commercial mining using the SABRE mining method [2][12]. - Denison holds a 22.5% ownership interest in the McClean Lake Joint Venture, which includes one of the world's largest uranium processing facilities with a licensed annual production capacity of 24 million pounds U3O8 [12][15]. Future Potential - The successful exploration results at McClean South may position it as a new economic source of future feed to the McClean Lake mill, especially with advancements in the In-Situ Recovery (ISR) mining method [3][12].
Orano Canada and Denison Announce SABRE 1st Production at McClean Lake
Prnewswire· 2025-07-17 10:30
Core Viewpoint - Orano Canada Inc. and Denison Mines Corp. have successfully commenced uranium mining operations at the McClean Lake Joint Venture using the innovative SABRE mining method, marking a significant milestone in the uranium industry [1][3]. Company Overview - Orano Canada holds a 77.5% interest in the McClean Lake Joint Venture and is the operator, while Denison Mines owns a 22.5% interest [1]. - Orano Canada processed 16.9 million pounds of uranium concentrate in 2024 and has over 60 years of experience in uranium exploration, mining, and milling in Canada [9]. - Denison Mines focuses on uranium mining, development, and exploration, with a 95% interest in the Wheeler River Uranium Project, the largest undeveloped uranium project in the Athabasca Basin [11]. SABRE Mining Method - The SABRE method, developed between 2004 and 2021, is a non-entry, surface-based mining technique that utilizes high-pressure water jets to excavate ore, allowing access to high-grade orebodies that are economically challenging to mine using conventional methods [4][5]. - Approximately 250 tonnes of high-grade ore (over 10% U3O8) have been recovered from the first mining cavity, with plans to process this ore at the McClean Lake mill [2][3]. - The SABRE method is designed to be selective and scalable, providing flexibility in production and reducing environmental impact compared to traditional mining methods [5]. Industry Impact - The commencement of SABRE mining at McClean North represents the first active mining operations in the MLJV since 2008, highlighting a return to production in the uranium sector [3]. - The innovation in mining techniques supports the industry's commitment to providing a reliable supply of natural uranium for nuclear power producers, contributing to low-carbon electricity generation [3].
Denison Announces Discovery of Additional High-Grade Mineralization at Gryphon and Reports Results from Successful Delineation Program
Prnewswire· 2025-07-16 10:30
Core Insights - Denison Mines Corp. announced the discovery of additional high-grade mineralization at the Gryphon uranium deposit, with drill hole WR-837AD2 intersecting 2.3 metres at 1.69% eU3O8, including 0.5 metres at 5.48% eU3O8, approximately 40 metres outside the previously estimated mineralized domain [1][2][4] Group 1: Discovery and Drilling Results - The delineation drill program at Gryphon was highly successful, confirming the geological interpretation and intersecting uranium grades in line with expectations [2][3] - Drill hole WR-837AD2 indicates potential expansion of the D1 zone by approximately 40 metres in the down-plunge direction, justifying further follow-up drilling [10] - A total of approximately 12,500 metres of diamond drilling was completed in the 2025 delineation program, confirming the current geological interpretation and supporting the grade-thickness assumptions in the resource block model [12][13] Group 2: Resource Estimates and Economic Potential - Gryphon is estimated to contain Indicated Mineral Resources of 61.9 million pounds U3O8 at an average grade of 1.7% U3O8, with additional resources of 1.9 million pounds U3O8 at an average grade of 1.2% U3O8 [5][6] - The 2018 Pre-Feasibility Study (PFS) assessed Gryphon's potential for underground mining, highlighting robust economics with an estimated after-tax base-case Net Present Value (NPV) of $864.2 million and an internal rate of return (IRR) of 37.6% [7] Group 3: Future Development Plans - The company is developing plans to follow up on the high-grade mineralization results and test other expansion targets [4][10] - Approximately 250 kg of whole-core samples were collected for metallurgical test work to assess uranium recoveries, supporting future project evaluation efforts [18][20] - Geotechnical and hydrogeological data collected from the drilling program will enhance understanding for future mine-design planning [19][20]
Denison Mine (DNN) Reports Q1 Loss, Tops Revenue Estimates
ZACKS· 2025-05-13 01:25
Group 1 - Denison Mine reported a quarterly loss of $0.03 per share, which was worse than the Zacks Consensus Estimate of a loss of $0.02, marking a 50% earnings surprise [1] - The company posted revenues of $0.96 million for the quarter ended March 2025, exceeding the Zacks Consensus Estimate by 24.42%, compared to $0.62 million in the same quarter last year [2] - Denison Mine shares have declined approximately 14.4% since the beginning of the year, while the S&P 500 has decreased by 3.8% [3] Group 2 - The earnings outlook for Denison Mine is mixed, with the current consensus EPS estimate for the upcoming quarter at -$0.02 on revenues of $0.77 million, and -$0.06 on revenues of $6.85 million for the current fiscal year [7] - The Mining - Miscellaneous industry, to which Denison Mine belongs, is currently ranked in the bottom 39% of over 250 Zacks industries, indicating potential challenges for stock performance [8] Group 3 - The company has not surpassed consensus EPS estimates in the last four quarters, indicating a trend of underperformance [2] - The current Zacks Rank for Denison Mine is 3 (Hold), suggesting that the shares are expected to perform in line with the market in the near future [6]
Navigating Denison Mines' Uranium Fog : Geopolitics And The Long Game
Seeking Alpha· 2025-04-17 13:25
Group 1 - Recent increase in trading volumes for Denison Mines (NYSE: DNN) indicates potential institutional selling and a confirmation of a downtrend [1] - The price decline alongside volume spikes suggests a significant market movement that could impact investor sentiment [1] Group 2 - The article emphasizes the importance of analyzing trading volumes in conjunction with price movements to identify potential investment opportunities [1]
Denison Announces Filing of Annual Report on Form 40-F
Prnewswire· 2025-03-28 22:10
Core Viewpoint - Denison Mines Corp. has filed its 2024 Annual Report on Form 40-F with the SEC, which includes comprehensive financial statements and management discussions for the year ending December 31, 2024 [1] Company Overview - Denison is a prominent uranium mining, development, and exploration company, primarily focused on the Athabasca Basin in northern Saskatchewan, Canada [3] - The company holds a 95% interest in the Wheeler River Uranium Project, the largest undeveloped uranium project in the eastern Athabasca Basin [3] - Denison's interests also include a 22.5% stake in the McClean Lake Joint Venture, which is set to begin uranium extraction in 2025 [4] - The company has a total ownership interest covering approximately 384,000 hectares in the Athabasca Basin region [4] Recent Developments - In mid-2023, Denison completed a feasibility study for the Phoenix deposit as an ISR mining operation and updated the Pre-Feasibility Study for the Gryphon deposit as a conventional underground mining operation [3] - Significant milestones were achieved in 2024 regarding the permitting process for the Phoenix ISR operation, including the submission of federal licensing documents and acceptance of the Environmental Impact Statement [3] Joint Ventures and Other Interests - Denison, through its 50% ownership of JCU (Canada) Exploration Company, has interests in various uranium project joint ventures, including the Millennium, Kiggavik, and Christie Lake projects [5] - The company celebrated its 70th anniversary in uranium mining, exploration, and development in 2024, marking its long-standing presence in the industry [5]
Foremost Clean Energy Commences Site Preparation for 2025 Drill Program at Hatchet Uranium Project
Newsfilter· 2025-03-27 12:00
Core Viewpoint - Foremost Clean Energy Ltd. has initiated its 2025 winter exploration program at the Hatchet Lake Uranium Project, aiming to capitalize on the growing demand for uranium driven by the global energy transition and increasing nuclear power capacity commitments from over 30 countries and 160 corporations by 2050 [3][15]. Company Developments - The initial phase of the exploration program includes site preparation and is set to begin diamond drilling shortly, focusing on high-priority targets in the eastern Athabasca Basin [1][2]. - The planned drill program consists of 2,000 meters of diamond drilling across 8 drill holes, targeting depths of approximately 250 meters, with a focus on two areas: Tuning Fork and Richardson [4][10]. - Foremost has recognized the contributions of Johnathan More, who will resign from the board effective April 1, 2025, and the company is evaluating options for a new independent director [11]. Exploration Strategy - The exploration program is designed to target sandstone-hosted and basement-hosted uranium mineralization along conductive trends identified through previous drilling and geophysical surveys [5][6]. - Drill targets have been prioritized based on historical results showing confirmed uranium mineralization coinciding with untested conductive anomalies, aiming to expand known mineralization and discover new sources [6][7]. - The 2025 drilling campaign will test the extent of previously identified mineralized zones and explore untested EM conductors over a strike length of up to 700 meters [7][10]. Market Context - The uranium market is experiencing a critical juncture with increasing demand for nuclear power and a shortfall in primary uranium production, creating opportunities for uranium producers and explorers, particularly in stable jurisdictions like Canada [3][15]. - The Hatchet Lake project benefits from shallow sandstone cover, allowing for efficient and cost-effective exploration, which is expected to enhance the potential for discovery in the upcoming drill campaign [10].
Denison Announces Appointment of Former OPG CEO Ken Hartwick to its Board of Directors
Prnewswire· 2025-03-20 10:30
Core Insights - Denison Mines Corp. has appointed Ken Hartwick and Jinsu Baik to its Board of Directors, enhancing the board's expertise in nuclear power generation [1][2][4] - The appointments follow the retirement of Brian Edgar, who served over 20 years on the board, contributing significantly to the company's strategic direction [2] - Ken Hartwick brings over 40 years of experience in finance, investment, and corporate leadership, having previously served as CEO of Ontario Power Generation [3] - Jinsu Baik, with extensive experience in the nuclear industry, replaces Jong Ho Hong as the representative of Korea Hydro Nuclear Power [4] Company Overview - Denison is a leading uranium mining, development, and exploration company focused on the Athabasca Basin in northern Saskatchewan, Canada [5] - The company holds a 95% interest in the Wheeler River Uranium Project, the largest undeveloped uranium project in the region [5] - Denison's interests also include a 22.5% stake in the McClean Lake Joint Venture and various other uranium projects through its 50% ownership of JCU [7][8] Recent Developments - The Phoenix feasibility study was completed in mid-2023, indicating competitive potential for both the Phoenix and Gryphon deposits [5] - Significant milestones were achieved in 2024 regarding the permitting process for the planned Phoenix ISR operation, including the submission of federal licensing documents [6]
Denison Mines(DNN) - 2024 Q4 - Annual Report
2025-03-14 19:31
Exhibit 99.1 ANNUAL CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED DECEMBER 31, 2024 ANNUAL CONSOLIDATED FINANCIAL STATEMENTS Responsibility for Financial Statements The Company's management is responsible for the integrity and fairness of presentation of these consolidated financial statements. The consolidated financial statements have been prepared by management, in accordance with International Financial Reporting Standards as issued by the International Accounting Standards Board, for review by t ...
Denison Reports Financial and Operational Results for 2024 Highlighted by Significant Advancement of the Phoenix Project
Prnewswire· 2025-03-14 00:58
Core Insights - Denison Mines Corp. has made significant progress in advancing its Phoenix In-Situ Recovery (ISR) project, with regulatory approvals expected to be finalized by late 2025, allowing for construction to potentially start in early 2026 and first production by the first half of 2028 [2][10][12] - The company has achieved approximately 65% completion of detailed engineering for the Phoenix project by the end of 2024, which supports its objective of a Final Investment Decision (FID) [3][12][13] - Denison has signed multiple agreements with local communities, including a Mutual Benefits Agreement with Kineepik Métis Local 9 and a Community Benefit Agreement with the Village of Pinehouse Lake, to secure support for the Wheeler River project [4][15][16] - The uranium market remains strong, with a 16% increase in long-term supply contract prices from US$68.00/lb U3O8 to US$79.00/lb U3O8 during 2024, despite recent spot market volatility [6] - Denison's balance sheet is strong and debt-free, positioning the company well for its ambitious plans in 2025 and beyond, including significant investments in equipment and exploration [7][29] Regulatory Approvals and Project Development - The Canadian Nuclear Safety Commission (CNSC) has scheduled a two-part public hearing for the Phoenix ISR project, marking a critical step in the regulatory process [2][10] - Key regulatory milestones achieved in late 2024 include the completion of the technical review phase and acceptance of the final Environmental Impact Statement (EIS) by the CNSC [9][11] - The company is focused on completing detailed engineering design, provincial and federal licensing, and pre-FID construction planning [7][12] Community Engagement and Agreements - Denison has established a Sustainable Communities Investment Agreement with multiple northern municipalities to support community development initiatives [17][19] - The agreements with local communities emphasize mutual benefits, including economic development, job creation, and environmental monitoring [15][19] Mining Operations and Exploration - The company plans to restart uranium mining operations at the McClean Lake property in 2025 using the SABRE mining method [20] - Denison completed an inaugural ISR field test program at the Midwest project, validating key assumptions for ISR mining [21][24] - The company has entered into agreements with Foremost Clean Energy and Cosa Resources to enhance exploration activities on non-core properties [23][26] Leadership and Corporate Structure - Denison appointed Ms. Jennifer Traub as the new Board Chair following the Annual General Meeting in May 2024 [27]