Past year: ▼ 18%(3.60 – 5.68 CAD)
Each one in plain English, with the numbers worked through for a shareholder.
10 Oct 2025resource reserve update▲ GoodMajor
An economic assessment of the Midwest deposit by in-situ recovery, effective 6 August 2025: on a whole-project basis and at US$80 a pound uranium, an after-tax value of C$964 million at an 8% discount, an 82.7% return and payback inside a year. Midwest was a conventional open-pit project for decades; the in-situ method is what makes it look like this.
10 Oct 2023capital raising announcement▲ GoodMajor
Raised US$55.13 million in a bought deal, 37 million shares at US$1.49 - four times the US$0.37 a share of the October 2020 raise three years earlier.
What it means for a shareholder
37.0m new shares at US$1.49 to raise about US$55.1m. That's 4.3% dilution: every existing holder's slice gets 4.3% smaller. If you held US$1,000 of shares (671 at the issue price), your slice goes from 0.0000812% to 0.0000777% of the company. To keep it you'd need 30 more shares - about US$45 at the issue price.
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10 Aug 2023resource reserve update▲ GoodMajor
The Wheeler River technical report effective 23 June 2023 puts the Phoenix in-situ recovery project at an after-tax value of $1.43 billion at an 8% discount, an 82.3% return and an eleven-month payback - a step up from the 2018 pre-feasibility figures, driven by the in-situ recovery design and higher uranium prices.
27 Mar 2023resource reserve update● Neutral
Filed the technical report for the Christie Lake uranium project, effective 31 December 2021, prepared for UEX Corporation and JCU (Canada) Exploration, which hold 50% each. Denison's exposure runs through its interest in JCU, the same third partner that held a right of first refusal over Cameco's Wheeler River stake in 2018.
28 Sept 2021capital raising announcement● Neutral
A second at-the-market equity distribution agreement, again with Cantor Fitzgerald and Scotia.
4 Mar 2021annual report● Neutral
The audited consolidated financial statements for the year ended 31 December 2020.
5 Jan 2021capital raising announcement▲ Good
Placed about C$930,000 of flow-through shares at C$0.86, priced at a 17% premium to the five-day average - the premium buyers pay for the Canadian exploration tax deduction the shares carry.
31 Dec 2020resource reserve update▲ GoodMajor
An economic assessment of the Tthe Heldeth Tue (J Zone) deposit at Waterbury Lake, effective 30 October 2020, using in-situ recovery: base case pre-tax value of $177.3 million at an 8% discount, a 39.1% return and payback in about 22 months. At $35 a pound uranium the same project is worth $38.3 million and returns 17.4% - the study's own low case shows how much of the value is the uranium price.
13 Nov 2020capital raising announcement● Neutral
Set up an at-the-market share programme with Cantor Fitzgerald and Scotia, letting Denison sell stock into the market at prevailing prices instead of announcing discrete raises.
8 Oct 2020capital raising announcement▲ Good
Upsized the offering the next day to 47,000,000 shares at the same US$0.37, for about US$17.4 million.
7 Oct 2020capital raising announcement● Neutral
Agreed a US$10 million bought deal with Cantor Fitzgerald and Haywood: 27,030,000 shares at US$0.37.
What it means for a shareholder
27.0m new shares at US$0.370 to raise about US$10.0m. That's 4.4% dilution: every existing holder's slice gets 4.4% smaller. If you held US$1,000 of shares (2,703 at the issue price), your slice goes from 0.000459% to 0.000439% of the company. To keep it you'd need 124 more shares - about US$46 at the issue price.
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2 Nov 2018resource reserve update▲ GoodMajor
Filed the pre-feasibility study for the now 90%-owned Wheeler River: 109.4 million lb of uranium oxide over a 14-year life, pre-tax net present value of $1.31 billion at an 8% discount, a 38.7% return and $322.5 million of initial capital. Phoenix would be mined by in-situ recovery with its own on-site plant; Gryphon underground, processed at the McClean Lake mill Denison part-owns.
13 Sept 2018asset acquisition disposition▲ GoodMajor
Cameco walked away from Wheeler River. Denison agreed to buy Cameco's entire 30% joint venture interest for C$15,999,750, paid in about 24.6 million Denison shares, subject to a right of first refusal held by the third partner JCU. The largest uranium producer in the basin sold out of the project rather than fund it, and Denison went from operator with 60% to 90% owner.
28 Mar 2018resource reserve update● Neutral
An updated resource for the Midwest property, audited by SRK: indicated rose to 1,019,000 tonnes at 2.26% uranium oxide for 50.78 million lb, from 818,000 tonnes at 2.70% for 48.70 million lb - 25% more tonnes at a 16% lower grade for 4% more metal. Inferred moved from 34,000 tonnes at 6.30% to 845,000 tonnes at 0.98%, taking contained metal from 4.70 to 18.21 million lb.
6 July 2017regulatory community update▲ GoodMajor
The Canadian Nuclear Safety Commission granted the McClean Lake operations a ten-year uranium mine operating licence running to 30 June 2027. The mill is owned by AREVA (70%), Denison (22.5%) and OURD (7.5%); a decade-long licence for an existing facility is what routine uranium permitting looks like in Saskatchewan.
7 June 2017drilling scheduled● Neutral
Planned 18,000 metres in about 40 holes over the summer, all at Gryphon, with 18 of them infill drilling meant to lift the inferred resource to indicated confidence - the drilling a pre-feasibility study needs.
30 May 2017drilling result▲ GoodMajor
Chemical assays came back 45% above the radiometric probe estimates released during the winter programme, and delivered the best D-lens result to date. Denison's practice of publishing probe numbers first understated these holes.
21 Apr 2017drilling result▲ GoodMajor
Reported 22.1 metres of high-grade mineralization from the Gryphon D lenses as winter drilling ended, still outside the 2015 resource estimate.
31 Mar 2017annual report● Neutral
Filed its 2016 annual report on Form 40-F.
30 Mar 2017drilling result▲ GoodMajor
Multiple high-grade intercepts in the D series of lenses, which lie outside the existing Gryphon resource, from a 16,000-metre winter programme aimed at making the deposit both bigger and better defined.
9 Mar 2017capital raising announcement● Neutral
Completed a C$20 million bought-deal placement: 5,790,000 ordinary shares at C$0.95 and 8,482,000 flow-through shares at C$1.12, the flow-through money restricted to exploration.
What it means for a shareholder
5.8m new shares at C$0.950 to raise about C$5.5m. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
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18 May 2016resource reserve update● Neutral
Filed the technical report behind the Wheeler River economic assessment, effective 31 March 2016.
21 Apr 2016drilling result● Neutral
Reported winter drilling on the wider exploration portfolio - more than 340,000 hectares in the eastern Athabasca Basin outside Wheeler River - with mineralization intersected on several properties.
19 Apr 2016drilling result▲ Good
Finished the winter programme with 21,800 metres in 32 holes at Wheeler River and expanded the mineralized zone found immediately north of Gryphon.
5 Apr 2016resource reserve update▲ GoodMajor
The first economic study of Wheeler River: a base-case pre-tax return of 20.4% at the then long-term uranium contract price, with Denison's 60% share of initial capital put at C$336 million out of C$560 million for the whole project.
30 Mar 2016asset acquisition disposition▲ GoodMajor
Sold its entire African portfolio - Rockgate, and with it Mutanga in Zambia, Falea in Mali and Dome in Namibia - to GoviEx Uranium for about 56.1 million GoviEx shares and 22.4 million warrants, leaving Denison with 25% of GoviEx. Three years after buying Rockgate, Denison is out of Africa and back to a purely Athabasca Basin company.
29 Mar 2016annual report● Neutral
Filed its 2015 annual report on Form 40-F with the SEC, together with the Canadian annual information form.
18 Mar 2016other material event▲ GoodMajor
Metallurgical testwork on Gryphon material showed high uranium recoveries and that it could be processed at the McClean Lake mill, in which Denison holds 22.5%. Owning a share of a licensed mill removes one of the permits a new Athabasca deposit would otherwise need.
10 Mar 2016drilling result▲ GoodMajor
WR-641, 160 metres northwest of Gryphon, returned 3.9% uranium oxide over 9.2 metres including 6.7% over 5.3 metres. These are radiometric probe estimates awaiting chemical assay.
4 Mar 2016material agreement▲ GoodMajor
Renewed for three more years, from 1 April 2016, the agreement under which Denison's subsidiary manages Uranium Participation Corporation, a listed physical uranium holding company. Management fees from UPC are one of the few revenue lines Denison has while its own deposits are undeveloped.
