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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]
Foremost Clean Energy Announces Plans for Immediate Follow-Up Drill Program at Hatchet Uranium Project
Newsfilter· 2025-03-04 13:00
Core Insights - Foremost Clean Energy Ltd. is set to initiate an 8-hole, approximately 2,000-metre diamond drill program at the Hatchet Uranium Property in March 2025, in collaboration with Denison Mines Corp. [1][3] - The 2024 drill program results indicated uranium mineralization at the Richardson trend and favorable geological conditions, leading to the identification of multiple high-potential targets for the upcoming 2025 program [2][3]. Company Overview - Foremost Clean Energy Ltd. is a North American uranium and lithium exploration company, holding options to earn interests in multiple uranium properties across over 330,000 acres in the Athabasca Basin [19][20]. - The company aims to make significant discoveries through systematic exploration programs, particularly in collaboration with Denison Mines [19]. Drill Program Details - The 2025 drill program will focus on 4-6 high-potential locations within the Tuning Fork target area and along the Richardson trend, fully funded and permitted [4]. - Ten priority target locations have been identified for drill testing, based on previous drilling results and geophysical surveys [4][6]. Market Context - The demand for uranium is expected to rise significantly due to increasing global energy needs and the adoption of nuclear power, particularly with the deployment of Small Modular Reactors (SMRs) [3]. - Industry experts predict that new uranium discoveries and mines will be necessary to meet this growing demand as existing supply sources diminish [3]. Historical Context - The Hatchet Uranium Property spans approximately 10,211 hectares in the Athabasca Basin, known for hosting some of the largest and highest-grade uranium deposits globally [12]. - Historical exploration has confirmed the presence of uranium mineralization and hydrothermal alteration, which are key indicators of potential uranium deposits [12]. Additional Developments - To enhance market awareness, the company has engaged LFG Equities Corp. for a marketing campaign with an initial investment of $50,000 USD [14][15]. - The campaign aims to increase visibility and attract new investors by effectively communicating the company's value proposition [15].
Denison Reports CNSC Hearing Dates for Phoenix ISR Project
Prnewswire· 2025-02-27 11:30
Core Viewpoint - Denison Mines Corp. has announced the schedule for the public hearing regarding the Wheeler River Uranium Project, marking a significant step in the federal approval process for the project's Environmental Assessment and construction license [1][2][3] Regulatory Milestones - The announcement follows the successful completion of key regulatory milestones in late 2024, including the completion of the technical review phase of the federal Environmental Assessment in November, acceptance of the final Environmental Impact Statement in December, and the CNSC's determination of the sufficiency of Denison's license application [2] Project Timeline - The public hearing is scheduled for October 8, 2025, and December 8 to 12, 2025, with the potential for construction activities to commence in early 2026 if the CNSC approves the project promptly after the hearing [1][3] Company Insights - David Cates, President and CEO of Denison, emphasized that the hearing schedule reduces uncertainty regarding the timeline for federal project approvals and allows for more precise construction planning, aiming for first production from the Phoenix project by the first half of 2028 [3] Company Overview - Denison is a leading uranium mining, development, and exploration company with a 95% interest in the Wheeler River Uranium Project, the largest undeveloped uranium project in the eastern Athabasca Basin [4] - The company has also achieved notable milestones in permitting efforts for the Phoenix ISR operation, which began in 2019 [4] Joint Ventures and Interests - Denison holds a 22.5% interest in the McClean Lake Joint Venture and a 25.17% interest in the Midwest Joint Venture, along with a 69.44% interest in the Tthe Heldeth Túé and Huskie deposits [5] - The company also has a 50% ownership in JCU (Canada) Exploration Company, which includes interests in various uranium project joint ventures across Canada [6]
Denison Mines: Uranium Play Covered Calls Have Huge Return Profile
Seeking Alpha· 2025-02-26 18:35
Group 1 - The Conservative Income Portfolio targets high-value stocks with significant margins of safety and aims to reduce volatility through well-priced options [1][4] - The Enhanced Equity Income Solutions Portfolio is designed to generate yields of 7-9% while minimizing volatility [1] - Denison Mines (NYSE: DNN) has shown a compelling long-side opportunity, with the stock increasing by 46% since August 2022 and previously rising as much as 110% [2] Group 2 - Trapping Value offers Covered Calls and focuses on capital preservation while generating income through lower volatility investments [3][4] - The Fixed Income Portfolio emphasizes purchasing undervalued securities with high income potential [3] - The team behind Trapping Value has over 40 years of combined experience in generating options income [4]
Foremost Clean Energy to Attend Prospectors & Developers Association of Canada (PDAC) 2025 Convention
Newsfilter· 2025-02-13 13:00
Company Overview - Foremost Clean Energy Ltd. is a rapidly growing North American uranium and lithium exploration company with an option to earn up to a 70% interest in 10 prospective uranium properties, covering over 330,000 acres in the Athabasca Basin region of northern Saskatchewan [6] - The company also has a portfolio of lithium projects across more than 55,000 acres in Manitoba and Quebec [7] Upcoming Event Participation - Foremost Clean Energy will participate in the PDAC 2025 Convention, the world's premier mineral exploration and mining convention, taking place from March 2-5, 2025, in Toronto, Canada [1][2] - The convention is expected to attract over 27,000 attendees from over 135 countries, featuring more than 1,100 exhibitors and 700 speakers [2] Exploration Plans - The company is focused on ongoing exploration plans for its Athabasca Basin uranium projects and will host meetings with industry peers, media, and qualified investors during the convention [3] - The President & CEO of Foremost Clean Energy expressed excitement about the company's forthcoming drill programs and the growing recognition of nuclear energy's importance [3] Equity Grants - The company has granted 9,200 stock options and 7,088 Restricted Share Units (RSUs) to a director, along with 36,000 options to MZHCI, LLC, an investor relations provider [4] - The options are exercisable at a price of $1.38 CAD ($0.99 USD) per share and are valid for a term of 5 years [5]
Foremost Clean Energy Provides Update of its Anticipated Closing Date of its Spin-Out from January 30 to January 31, 2025
Newsfilter· 2025-01-29 22:00
Core Viewpoint - Foremost Clean Energy Ltd. is set to spin out its gold and silver properties into a new public company, Rio Grande Resources Ltd., with the effective date now scheduled for January 31, 2025 [1] Company Overview - Foremost Clean Energy Ltd. is an emerging North American uranium and lithium exploration company, holding an option to earn up to a 70% interest in 10 uranium properties across over 330,000 acres in the Athabasca Basin, Saskatchewan [3] - The company also has a portfolio of lithium projects at various development stages, located on more than 55,000 acres in Manitoba and Quebec [4] Spin-Out Details - Shareholders of Foremost as of January 30, 2025, will receive one New Foremost Share and two Rio Grande Shares for each Foremost Share held as of the Surrender Date [1] - Registered shareholders with physical share certificates should refer to the January 28, 2025 news release for instructions on receiving the Consideration Shares [2]
Denison Mine (DNN) Could Find a Support Soon, Here's Why You Should Buy the Stock Now
ZACKS· 2025-01-29 15:55
Core Viewpoint - Denison Mine (DNN) has shown a downtrend recently, losing 9.2% over the past week, but a hammer chart pattern suggests a potential trend reversal as buying interest may be emerging to counteract selling pressure [1][2]. Technical Analysis - The hammer chart pattern indicates a possible bottoming out, suggesting that selling pressure may be subsiding, which is a bullish signal for the stock [2][4]. - A hammer pattern forms when there is a small candle body with a long lower wick, indicating that despite a downtrend, buyers are starting to emerge [3][4]. - This pattern can occur across various timeframes and is utilized by both short-term and long-term investors [4]. Fundamental Analysis - There has been a positive trend in earnings estimate revisions for DNN, which is a bullish indicator as it typically leads to price appreciation [6]. - The consensus EPS estimate for DNN has increased by 6.3% over the last 30 days, indicating strong agreement among analysts regarding the company's improved earnings potential [7]. - DNN holds a Zacks Rank of 2 (Buy), placing it in the top 20% of over 4,000 ranked stocks, which historically outperforms the market [8].
Foremost Clean Energy Announces Approval of the Winston Gold and Silver Spin-Out and Additional Results from AGSM
Newsfilter· 2024-12-23 13:30
Core Points - Foremost Clean Energy Ltd. has announced a plan of arrangement to spin out its gold and silver properties located in Sierra County, New Mexico, to shareholders through Rio Grande Resources Ltd. [7] - Shareholders will receive two common shares of Rio Grande for each common share of Foremost they hold, with the arrangement expected to close around January 10, 2025, pending necessary approvals [2][9] - The arrangement has been overwhelmingly approved by shareholders, with 99.86% voting in favor at the annual general and special meeting [1][8] Company Structure and Leadership - Following the arrangement, shareholders will hold shares in two public companies: Foremost, focused on uranium and lithium exploration, and Rio Grande, which will develop the Winston Property [3] - Amanda Willett has been appointed as the newest independent director of Foremost, bringing extensive experience in corporate governance and the mining sector [5][10] - The board of directors has been set at six members, with Jason Barnard confirmed as President and CEO, and Douglas L. Mason as Chairman [11] Trading and Regulatory Information - Foremost shares will continue trading on the Canadian Securities Exchange (CSE) under the symbol FAT and on NASDAQ under FMST, while Rio Shares will commence trading on the CSE [3] - Rio Grande will become a reporting issuer in British Columbia, Alberta, and Ontario, with the British Columbia Securities Commission as its principal regulator [3] Company Overview - Foremost Clean Energy Ltd. is an emerging North American uranium and lithium exploration company, holding an option to earn up to a 70% interest in 10 uranium properties across over 330,000 acres in the Athabasca Basin [14] - The company also has a portfolio of lithium projects located across more than 55,000 acres in Manitoba and Quebec, aimed at supporting the growing demand for carbon-free energy [15]