Wednesday, October 21, 2009 at 05:59PM
We caught this clip on BNN today and thought that you might be interested in what Ron Hochstein, President and COO of Denison Mines, had to say about the outlook for uranium and an update on Denison's projects. Its only six minutes but worth a listen.
Having been a high flyer Denison appears to have support at the $1.40 level and according Ron they are now a debt free company, the debt being one of the factors that weighed heavily on the stock price. Great store is being placed on the Wheeler River Uranium Project where a 7,500 metre drilling programme is underway. Results should be forthcoming by Christmas, hopefully bringing some good cheer to investors.
The current spot price for uranium has moved up of late and stands at $47.50/lb according to TradeTech with the longer term price being $70/lb.
Denison Mines Corporation trades on the AMEX under the symbol of DNN and on the Toronto Stock Exchange as DML.
Market capitalization is $591.11million, average volume is 2.0 million shares traded, 52 week high $2.75, 52 week low $0.54, closed yesterday at $1.74.
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