{"id":451464,"date":"2021-03-04T17:28:13","date_gmt":"2021-03-04T22:28:13","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=451464"},"modified":"2021-03-04T17:28:13","modified_gmt":"2021-03-04T22:28:13","slug":"denison-reports-a-year-of-significant-project-and-company-de-risking","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/denison-reports-a-year-of-significant-project-and-company-de-risking\/","title":{"rendered":"Denison Reports a Year of Significant Project and Company De-Risking"},"content":{"rendered":"
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PR Newswire<\/p>\n<\/p><\/div>\n

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\n TORONTO, ON<\/span>, March 4, 2021<\/span> \/PRNewswire\/ –\u00a0Denison Mines Corp.<\/b>\u00a0(“Denison” or the “Company”) (TSX: DML) \u00a0(NYSE American: DNN) today filed its Audited Consolidated Financial Statements and Management’s Discussion & Analysis (“MD&A”) for the year ended December 31<\/span>, 2020.\u00a0 Both documents can be found on the Company’s website at www.denisonmines.com<\/a>\u00a0\u00a0or on SEDAR (at www.sedar.com<\/a>) and EDGAR (at www.sec.gov\/edgar.shtml<\/a>). The highlights provided below are derived from these documents and should be read in conjunction with them. All amounts in this release are in Canadian dollars unless otherwise stated. View PDF version<\/a><\/p>\n

\n David Cates<\/span>, President and CEO of Denison commented,\u00a0“<\/i>Confronted with the varied challenges of the global COVID-19 pandemic, Denison’s resilient teams excelled in 2020 and early 2021 \u2013 accomplishing a significant de-risking of our flagship Wheeler River project and the Company’s balance sheet.<\/i><\/p>\n

\n At Wheeler River, our technical team achieved a key milestone, receiving an independent confirmation of ‘Proof of Concept’ for the application of the In-Situ Recovery (‘ISR’) mining method at the high-grade Phoenix<\/span> deposit.\u00a0 We also completed an important trade-off study leading to the adoption of a freeze ‘wall’ design for containment of the ISR operation at Phoenix<\/span> \u2013 a decision that is expected to be favourable from an environmental standpoint, reduce technical complexity and operational risks, allow for a phased mining approach with lower up-front capital costs, and strengthen project sustainability.\u00a0 With the Environmental Assessment process fully resumed and a $21.8 million<\/span> budget (Denison’s share $19.4 million<\/span>) approved and funded for evaluation and environmental assessment work at Wheeler River in 2021, the entire team is now focused on advancing Phoenix<\/span> through the regulatory and community consultation process to support a future Feasibility Study (“FS”), with the objective of pairing Phoenix<\/span>, the world’s highest grade undeveloped uranium deposit, with ISR mining, the world’s lowest cost uranium mining method.<\/i>\n <\/p>\n

\n In 2020, the technical team also delivered positive results from the Waterbury Lake Preliminary Economic Assessment (‘PEA’), which considered the potential future development of the Tthe Heldeth T\u00fa\u00e9 (‘THT’) uranium deposit as Denison’s second ISR amendable project in the Athabasca<\/span> Basin region.\u00a0 The results were highlighted by low initial capital costs and globally competitive operating costs.\u00a0 Adding to Wheeler River’s Phoenix<\/span> and Gryphon deposits, THT represents Denison’s third development asset with fully loaded costs (including initial capital costs, sustaining capital costs, and operating costs) estimated at under US$25<\/span> per pound U3<\/sub>O8<\/sub>.\u00a0\u00a0\u00a0\u00a0<\/i>\n <\/p>\n

\n On the Corporate side, the Company’s financial situation has also been significantly de-risked, having completed a round of critical capital raising over the last 12 months that has positioned the company with approximately $85 million<\/span> in cash and investments, while remaining debt-free.\u00a0 Taken together, Denison is uniquely positioned as a well-capitalized uranium developer, with multiple low-cost assets, at a time when the uranium market is showing signs of incremental improvement underpinned by growing calls for nuclear energy to re-emerge as a leading technology important to a sustainable global energy transition.”<\/i>\n <\/p>\n

\n HIGHLIGHTS\u00a0<\/b>\n <\/p>\n