DENISON MINES CORP. (TSX:DML): announcements explained, share price

Announcements, explained

Each one in plain English, with the numbers worked through for a shareholder.

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.

Create a free account to see this worked out for your own holding.

Discuss in chat

28 Sept 2021capital raising announcement● Neutral

A second at-the-market equity distribution agreement, again with Cantor Fitzgerald and Scotia.

Discuss in chat

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.

Discuss in chat

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.

Discuss in chat

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.

Discuss in chat

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.

Create a free account to see this worked out for your own holding.

Discuss in chat

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.

Create a free account to see this worked out for your own holding.

Discuss in chat

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.

Discuss in chat

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.

Discuss in chat

5 Oct 2012capital raising announcement● Neutral

Agreed a bought-deal private placement of 4,145,000 flow-through shares at C$1.69 for about C$7.0 million. Flow-through shares pass Canadian exploration tax deductions to the buyer and can only fund exploration, which is how most of Denison's drilling is paid for.

Discuss in chat