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Denison Mines Corp.
Summary
| Project: | Wheeler River | |
|---|---|---|
| Deposit: | Wheeler River | |
| Location: | Canada | |
| Commodities: | Uranium | |
| Date: | 9/25/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | Pre-Feasibility Study | |
| Project Stage: | Pursuing Feasibility Study | |
| Report details: | 25-9-2018: Denison Mines Corp. announces a Pre-Feasibility Study report for its Wheeler River deposit at the Wheeler River project. PFS results incl. pre-tax NPV of US $930.4M (8%), IRR of 43.3%, Initial ore reserve. Toronto, ON – September 24, 2018 Denis | |
| Resources: | (Reserve, Prob.): 1.398Mt @ 3.5% U3O8 for 109.4Mlbs U3O8 contained at Wheeler River | |
| CP/QP: | [Overall Report]: Peter Longo (Internal) | |
| ABSTRACT: | Toronto, ON – September 24, 2018 Denison Mines Corp. (“Denison” or the “Company”) (DML: TSX, DNN: NYSE American) is pleased to announce the results of the Pre-Feasibility Study (“PFS”) on its flagship Wheeler River uranium project (“Wheeler River”) in northern Saskatchewan. The PFS has been completed in accordance with NI 43-101 and is highlighted by the selection of the in-situ recovery (“ISR”) mining method for the development of the Phoenix deposit, with an estimated average operating cost of $4.33 (US$3.33) per pound U3O8. David Cates, President and CEO of Denison, commented “The selection of ISR mining for the highgrade Phoenix deposit is a defining moment for our Company and a potentially transformational development for the future of uranium mining in the Athabasca Basin – bringing the world’s lowest cost uranium mining method to the jurisdiction hosting the world’s highest-grade uranium deposits.” Mr. Cates further added, “Based on an estimated production cost of US$3.33/lb U3O8 and relatively modest initial capital costs, the Phoenix operation is expected to have superior leverage to an anticipated recovery of the spot price of uranium – owing to the fact that the operation may not require a book of long-term contracts to support a development decision. The Gryphon deposit is a perfect complement to Phoenix, as it is expected to supply additional low-cost pounds, financed through cash flow from Phoenix, at a time when the uranium market is expected to be in a significant supply deficit.” | |
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