December 3, 2008
FeaturedProfiles.com Stock Pick: Denison Mines Corporation (DNN)
Stock Price: $0.79
Denison Mines Corporation is a premier intermediate uranium producer in North America, with mining assets in the Athabasca Basin region of Saskatchewan, Canada and the southwest United States including Colorado, Utah, and Arizona. Further, the Company has ownership interests in two of the four conventional uranium mills operating in North America today.
For the third quarter, DNN sold 517,000 pounds of uranium at an average price of approximately $64.75 per pound. DNN expects uranium production in 2009 to increase by approximately between 25% and 50%.
Several nuclear reactors are being constructed around the world and several more are in the planning stage. Uranium demand will surge as these nuclear reactors start to come online. We believe uranium prices will surge from where they're at now and investors will look back wishing they had invested in a uranium producer like DNN.