Denison Mines to acquire uranium assets from International Enexco


Denison Mines (DNN +7.4%) signs a letter of intent to acquire uranium assets from International Enexco (IEXCF); DNN would buy all of Enexco's shares but spin off the copper assets, which will become part of a newly formed company.

Enexco's principal uranium assets include a 30% stake in the Mann Lake exploration project and a 20% stake in the Bachman Lake joint venture in Saskatchewan.

Also, DNN says it intersected high grade uranium mineralization at a new target area near the Phoenix deposit at Wheeler River in Saskatchewan; DNN is the operator and holds a 60% interest in the project, while Cameco (CCJ) holds a 30% stake.

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Comments (5)
  • Michael Bryant
    , contributor
    Comments (6932) | Send Message
     
    Uranium staging a comeback. (USU) has been surging this week. (DNN) seems a less risky play.
    20 Mar 2014, 07:36 PM Reply Like
  • Michael Bryant
    , contributor
    Comments (6932) | Send Message
     
    Has anybody thought nuclear weapon stockpiling do to the crisis in Ukraine could cause uranium prices to soar.
    20 Mar 2014, 07:38 PM Reply Like
  • harball
    , contributor
    Comments (432) | Send Message
     
    Don't think it will come down to this. Whilst Putin's obviously has dropped his sheepskin, it's not on the cards. Japanese restarts and spot price is what people are probably focusing on. Latest on Japan is that they have cleared two reactors for 'final' review. It's a slow process, but the public opinion on nuclear is not exactly popular. Spot price is yet to turn around.
    24 Mar 2014, 11:50 AM Reply Like
  • john001
    , contributor
    Comments (1194) | Send Message
     
    Michael..there are more than enough nukes to kill everyone now!

     

    More to the point is the possibility that, if Russia plays hardball with gas shipments to Europe, Germany might come to their senses and re-think their nuclear energy shut down strategy.
    20 Mar 2014, 10:05 PM Reply Like
  • harball
    , contributor
    Comments (432) | Send Message
     
    That's what's being discussed behind the scenes. Germany is in a tight spot
    (i) renewable subsidies are not sustainable
    (ii) power prices are up
    (iii) the EUR has strengthened considerably

     

    The end result is that manufacturing companies are curbing investment.
    24 Mar 2014, 11:56 AM Reply Like
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