Denison Mines Corp. is a diversified, growth-oriented, intermediate uranium producer with three active mines in the United States and an environmental services division. Denison has a global portfolio of world-class exploration projects in close proximity to the company’s mill in the Athabasca Basin in Saskatchewan, including the Wheeler River project and exploration and development properties in Mongolia and Zambia which will provide future production.
The company’s assets include an interest in two uranium mills in North America, with its 100% ownership of the White Mesa mill in Utah and its 22.5% ownership of the McClean Lake mill in Saskatchewan. Both mills are fully permitted. 2009 production from the two mills was 1.4 million pounds U3O8 and 0.5 million pounds of vanadium. Denison also has other mines and projects on stand-by in Canada and the U.S.
Denison Environmental Services (DES) division focuses on rehabilitation and monitoring of closed mine sites, offering a complete decommissioning package from mine closure planning, through to implementation of a closure plan, then long-term care and maintenance and monitoring. Provided services include site restoration, asset disposal, demolition, tailings relocation, dam construction and decant decommissioning, hazardous material abatement, and long term treatment and monitoring of mine and tailings effluents.
Last month the company reported assay results from the remaining holes of the summer drill program on the Wheeler River property in Saskatchewan. Significant results included WR-342 which returned 12.41% U3O8 over 10.0 metres and WR-345 which intersected 5.0 metres grading 16.21% U3O8, both of which were in Zone A of the Phoenix Trend. In Zone B, WR-347 returned 5.44% U3O8 over 6.5 metres and WR-348 intersected 4.87% U3O8 over 7.0 metres. With working capital of $81.1 million and no debt as of June 30, 2010, Denison Mines is well positioned to take advantage of increasing demand for uranium.
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