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Denison buys out Cameco's stake in Wheeler River uranium project

Published 09/04/2018, 06:30 PM
© Reuters.  Denison buys out Cameco's stake in Wheeler River uranium project
  • Denison Mines (NYSEMKT:DNN) +3.9% after-hours as it agrees to acquire Cameco's (NYSE:CCJ) ownership interest in the Wheeler River uranium project for more than 24.6M DNN common shares at $0.65 each, valuing the deal at ~$16M.
  • DNN says the acquisition will increase its stake in the joint venture to 90%, or ~86.8% if JCU Exploration Co. exercises its right of first refusal.
  • Wheeler River is the largest undeveloped uranium project in the eastern Athabasca Basin, and DNN says it wants to advance the project towards a development decision; it plans to complete a pre-feasibility study before the end of Q3.
  • Now read: Cameco : Ceasing Production Protects Uranium Market


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