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« Uranium stocks lifted by WA election | Main | Denison Mines Corporation: BUY! »
Sunday
Aug242008

Denison Mines Corporation: Options update!

Having bought the JAN09 Call Options of Denison Mines Corporation at a strike price of $7.50 for $1.10 per contract the underlying stock price promptly fell out of bed.

However, having traded as low as $5.00 a slight recovery can be detected as this uranium stock managed to climb back to $6.00 before closing on Friday at $5.79. From the chart we can see that the MACD has turned positive, the Stochastics are heading north and the RSI is just below the middle of its range. Hopefully we will see some improvement in the coming weeks.

In general the uranium market place appears to be fairly lacklustre at the moment with not a lot of news in either the bullish or bear camps. TradeTech is still reporting that the spot price is holding steady at $64.5/lb along with a few rumblings that things may improve in the near future. Over at Nymex the December Futures Contract was last traded at $72.0/lb.

For now we will just have to be patient with Denison and monitor its progress as we move towards the expiry date.

Have a good one.

Denison Mines Corporation trades as DML on the TSX and DNN on the AMEX, has a market capitalisation of C$1.25 billion, a P/E of 31.75 with 189.78 shares outstanding.
Have a good one.
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Reader Comments (3)

according to 'the market', uranium will never be used again, furthermore; uranium companies are not worth anything and just move rocks around, HA! apparently, the 'hedge funds' are liquidating the commodity market, in search of the last nickel before they become insolvent.

September 7, 2008 | Unregistered Commenterrichard mruz

It's time to cut ALL management teams of the junior resource companies out of the picture. They know very well what is done here. But they can reprice their options, increase their monthly payments etc. Could you imagine what voting power we have with all the extra "phantom" shares? SHAME ON ALL MANAGEMENT TEAMS OF THE JUNIOR MINING SECTOR

September 8, 2008 | Unregistered Commenter1to12

Anyone have any comments as to why Dennison has gotten so beaten up ? I was told they were one of the safest uranium stocks (if there is such a thing anymore). In any event, anyone have specific info to their troubles ?? Probs with the merger, their Mills, their uranium supply ? I wish i knew what the story was. Any info will be appreciated.

October 30, 2008 | Unregistered CommenterNBkid

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