Denison Mines (DML) - U ISR Leaders in Saskatchewan, Feasibility Mid-Year

Denison Mines Corp. is a TSX and NYSE- listed uranium exploration and development company focused on the advancement of its projects located in the Athabasca Basin region of Northern Saskatchewan, Canada. The company’s flagship project is the Wheeler River project. The company holds a 95% effective interest in the project and it is the largest undeveloped uranium project in the Eastern part of the Athabasca Basin. The company also has a 22.5% interest in the McClean Lake joint venture with Orano Canada, which comprises several uranium deposits and the McClean Lake uranium mill. The McClean Lake uranium mill is an operating and licensed processing facility which has been contracted to process the ore from the Cigar Lake mine, majority-owned by Cameco Corporation, under a toll milling agreement. 

Denison Mines Corp is advancing the Wheeler River Project to become the first in-situ recovery uranium mine in Canada. The company was interviewed by Crux Investor and the following information was gleaned from the interview.

Feasibility Field Test

Denison Mines has completed a feasibility field test as part of their technical de-risking process. The test took years and tens of millions of dollars to collect the information necessary to execute. This field test was the culmination of years of technical de-risking and was critical for the company's story.

The company has extensive testing that shows confidence in permeability throughout the environment. Preferential pathways can be useless for sparse uranium, but high-grade core allows for effective mining and tight well spacing with the ISR process.

Successful Testing of Leaching and Neutralization Phases for Uranium Recovery

Denison Mines achieved exceptional results with one injection well and two recovery wells during the leaching phase. The neutralization phase successfully restored pH levels in the well field to environmentally acceptable levels.

Strong Indigenous Engagement Policy

Denison Mines has exploration agreements with multiple indigenous groups that set a basis for a relationship and respect for indigenous rights. The company shares benefits with groups before generating positive cash flow.

Multiple indigenous groups require a deep understanding of land use and history. Environmental impact statements and regulatory approval take 2-3 years after the draft submission.

Undervalued Despite Significant De-Risking and Industry Leadership

Physical uranium is an asset with no business or operational risk, and when taken off the market cap, the company is trading at a significant discount to its underlying NPVs. The company has a competitive advantage over any of the players in ISR mining in the Athabasca Basin and has other assets with this mining method.

Moon Lake South Discovery

Moon Lake South has high-grade perched mineralization in sandstone. It is not typical to find perched mineralization on its own. This discovery could turn into a satellite operation for the Phoenix plant, and there is an enormous amount of follow-up to do next. Denison Mines uses unconventional mining methods to exploit the natural characteristics of the deposit. Ground is being broken up and so permeable which allows fluids to flow through it. Exploiting natural characteristics is more cost-effective than compensating for them.

In conclusion, Denison Mines Corp is a uranium exploration and development company that is advancing the Wheeler River Project to become the first in-situ recovery uranium mine in Canada. With its strong indigenous engagement policy and successful testing of leaching and neutralization phases for uranium recovery, the company is taking the necessary steps to ensure the success of its mining projects. Additionally, with its undervalued status and competitive advantage in ISR mining, Denison Mines presents a compelling investment opportunity for retail investors with an interest in mineral resource companies.

To find out more, go to the Denison Mines website