29 Mar 2016annual report● Neutral
Filed its 2015 annual report on Form 40-F with the SEC, together with the Canadian annual information form.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
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.
19 Feb 2016agm notice● Neutral
Notice of the annual general meeting to be held on 5 May 2016.
12 Feb 2016drilling result▲ GoodMajor
WR-633D1, 100 metres north of Gryphon, cut about 11 metres of basement-hosted mineralization including 5.7% uranium oxide over 1.0 metre and 6.3% over 1.7 metres - the deposit is not closed off to the north.
7 Jan 2016other● Neutral
Set out the 2016 plan: about C$16.9 million of Canadian exploration and evaluation spending against US$5.4 million of expected revenue from the McClean Lake mill and uranium sales. Toll milling at McClean Lake, not the deposits, is what brings money in.
18 Dec 2015resource reserve update● Neutral
The independent technical report covering both Wheeler River deposits after the Gryphon estimate, prepared by Roscoe Postle Associates and effective 25 November 2015.
2 Dec 2015asset acquisition disposition▼ BadMajor
The Mongolian licences were not granted, the July agreement did not close, and the deal was rewritten: Denison took US$1.25 million on closing plus rights to up to US$12 million from later sales, for total consideration of US$13.25 million instead of US$20 million. A permitting failure by a government cut a third off the price of an asset already agreed sold.
12 Nov 2015other material event● Neutral
The material change report for the initial Gryphon resource estimate.
3 Nov 2015resource reserve update▲ GoodMajor
The first resource estimate for Gryphon added 43.0 million lb of inferred uranium oxide to Wheeler River, alongside Phoenix's 70.2 million lb indicated. Eighteen months after the discovery hole, Wheeler River holds two deposits instead of one.
23 Oct 2015drilling result▲ Good
Completed the 2015 summer programme: 24,468 metres in 34 holes at Wheeler River, expanding Gryphon and adding a new zone at Murphy Lake.
21 Oct 2015other material event● Neutral
The material change report covering both the collapse of the Fission merger and Lundin's appointment as executive chairman.
14 Oct 2015director officer appointment● NeutralMajor
The day after the merger failed, Lukas Lundin took over as executive chairman, with Ron Hochstein standing down from that role but staying on the board. David Cates remains president and chief executive.
13 Oct 2015material agreement termination▼ BadMajor
The Fission merger collapsed. Denison's own shareholders backed it strongly and a majority of Fission shares voted in favour, but not the two-thirds Fission needed. Denison's second attempt to combine with the Fission side of the basin failed at the counterparty's own meeting.
12 Aug 2015agm notice● Neutral
Notice of the special shareholder meeting set for 14 October 2015 at which the Fission Uranium merger would be put to Denison holders.
7 Aug 2015other material event● Neutral
The full arrangement agreement of 27 July 2015 for the Fission Uranium merger.
31 July 2015asset acquisition disposition▲ GoodMajor
Agreed to sell its interest in the Gurvan Saihan joint venture in Mongolia to Uranium Industry a.s. of the Czech Republic for US$20 million - US$250,000 on closing and US$19.75 million deferred to 30 November 2015. The deferred payment, which is almost the whole price, was conditional on Mongolia granting mining licences for four projects by that date.
30 July 2015drilling result▲ Good
Finished definition drilling at Gryphon just over a year after discovering it, and found uranium mineralization at Murphy Lake.
28 July 2015business combination● NeutralMajor
Signed the definitive arrangement agreement, replacing July's letter agreement, with shareholder votes at both companies to follow.
15 July 2015other material event● Neutral
The binding letter agreement itself, under which Denison would acquire all of Fission Uranium's shares.
7 July 2015business combination● NeutralMajor
Agreed in principle to merge with Fission Uranium, offering 1.26 Denison shares per Fission share for a company to be renamed Denison Energy Corp and owned roughly half by each side's holders. It would have joined Fission's 100%-owned Patterson Lake South project to Denison's 60% of Wheeler River.
18 Aug 2014capital raising announcement● Neutral
Closed the flow-through placement at C$14,997,150 - 9,257,500 shares through a syndicate led by Dundee Securities, more than the C$13 million announced in July.
What it means for a shareholder
9.3m new shares at about C$1.62 to raise about C$15.0m. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
Create a free account to see this worked out for your own holding.
30 July 2014capital raising announcement▲ Good
One filing, two facts: a C$13 million bought-deal flow-through placement, and the first ten holes of the 2014 summer programme at Gryphon, stepping out 50 metres at a time down dip and along strike from the discovery.
14 July 2014resource reserve update● Neutral
The independent technical report supporting the 70.2 million lb Phoenix estimate.
19 June 2014resource reserve update▲ GoodMajor
Phoenix passed 70 million lb: indicated resources rose from 52.3 to 70.2 million lb of uranium oxide on 166,400 tonnes, after 25 holes drilled since the 2012 estimate to convert inferred material and extend the higher-grade parts.
7 Apr 2014drilling result▲ GoodMajor
The first follow-up hole at Gryphon, WR-560, returned 17.3% uranium oxide over 4.2 metres, confirming the discovery two weeks after it was announced. The same filing carries the annual meeting circular and the chairman's letter to shareholders.
4 Apr 2014drilling result▲ GoodMajor
A new discovery: WR-556, 3 km northwest of Phoenix at the K North target, cut 9.7% uranium oxide over 4.6 metres in the basement rock. The zone was named Gryphon and became the second deposit at Wheeler River.
28 Feb 2014drilling result▲ GoodMajor
High-grade intersections at Zone A of Phoenix, best of them 29.6% uranium oxide over 6.5 metres in WR-548. The release sets out the ownership that mattered for the next five years: Denison operator with 60%, Cameco 30% and JCU 10%.
23 Dec 2013farm in farm out agreement● Neutral
Optioned the Jasper Lake property - 18 claims over 45,271 hectares, 40 km east of the Cigar Lake mine - to Strateco Resources, which can earn up to 60% by funding work. Denison keeps its ground working without spending its own money.