Denison Mines Corp. (DNN) Stock Rises 3.74%% in premarket: Here is What You Need to Know

Denison Mines Corp. (DNN) stock price experienced a pre-market increase of 3.74% on April 14th, 2021, settling in at USD$1.13. This development followed the news that DNN had discovered high-grade uranium deposits at one of its sites, which is the bread and butter of the company’s business model.

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Discovery of Uranium Mineralization

DNN’s exploration program at McClean Lake Joint Venture (MLJV), which the company owns 22.5% of, bore fruit with the discovery of high-grade unconformity-hosted uranium mineralization. Of the four drill holes completed by Orano Canada inc., 77.5% owner of MLJV, three returned uranium mineralization results.

Extent of Mineralization

The mineralization is doubly exciting not only because of the quality of uranium found, but the extent to which it is found. Mr. Yackulic, Director at DNN, reported mineralization for 250 meters to the west and 70 meters to the east, in reference to McClean South 8E pod. This haul of uranium is all the more impressive given the property has been explored since the mid-1970s, with over 50 million pounds of U3O8having been produced over that time.

What This Means for DNN

CEO and President of DNN, Mr. Cates, used this opportunity to remind current and potential investors of the significant potential associated with DNN’s portfolio of exploration and development, particularly in the Athabasca Basin. In regard to the McClean Lake uranium mill, DNN has an excess licensed capacity. This means any uranium DNN comes across can be translated into a crucial source of future mill feed, which, of course, would continue to add value to MLJV and its stock prices.

DNN’s Uranium Supplies in 2021

DNN announced at the beginning of April of 2021 that it had procured 2.5 million pounds of uranium concentrates. The average weighted price came out to USD$29.61 per pound for a total cost of USD$74 million. Delivery dates range from April 2021 to October 2021, with the purchase likely to consolidate DNN’s balance sheet and allow for future financing of its ongoing and upcoming projects.


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