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« Uranerz Energy Corporation Up almost 50% in a Week | Main | $54 billion in additional loan guarantees for nuclear power »
Monday
Feb012010

Denison Forecasts Uranium Sales of 1.8 Million Pounds U3O8

DNN Logo.JPG

Just a quick note in case you missed this news release form Denison Mines Corporation (TSX: DML) announces that its 2010 operating plan and budget is expected to result in the sale of 1.8 million pounds of U3O8. Operating cash flow from mining activities of $19.5 million and net cash flow of $1.0 million after the of $16.7 million on business development activities and other net cash outflows of $1.8 million, according to a recent article on Tradingmarkets.com.


"Our 2010 plan and budget will not only generate positive cash flow from our operations, while keeping us debt free in a weak uranium price environment, but will also generate sufficient cash flow to fund an aggressive exploration and development program to increase Denison's production and profitability for the years ahead" said Ron Hochstein, President and CEO of Denison. Unless otherwise stated all figures are in U.S. dollars.

In 2010 Denison is expected to have cash flow from its mine and milling operations in Canada and the United States of $19.5 million after capital expenditures of $17.5 million at its mines and mills. Business development expenditures of $15.1 million are planned on new mine development and exploration projects as well as $1.6 million on the search for new acquisitions designed to increase Denison's annual uranium production to at least 10 million pounds per year by 2020.

After accounting for all administration and other expenditures net cash flow is expected to be approximately $1.0 million in 2010. Cash balances are forecast to be $19.2 million at December 31, 2010 and Denison is expected to remain debt free throughout the year. There will be fluctuations in production and sales on a quarterly basis.

Denison Mines Corporation trades on the AMEX under the symbol of DNN and on the Toronto Stock Exchange as DML.


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Reader Comments (2)

It is amazing ,when nobody was interested the price of uranium stocks soared ,thanks to the hedge funds. Now when everyne is talking not even Obahma announcing 100 new Nukes move the prices. Tradetech say the price will remain stagnant for at least two years $40 -$60 range . By then of course more mines will be coming online so there will be no shortages. The outlook from an investor stance is bleak without another hedge fund surge

February 2, 2010 | Unregistered Commenteruranium bug

uranium bug,

Yip, its disappointing and there are other distractions such as the other precious metal, gold, which is grabbing the headlines. Maybe there is an ignition out there that we just can not see?

February 2, 2010 | Unregistered CommenterUranium Stocks

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