Denison is a uranium exploration and development company with interests focused in the Athabasca Basin region of northern Saskatchewan, Canada. The Company's flagship project is the 90% owned Wheeler River Uranium Project, which is the largest undeveloped uranium project in the infrastructure rich eastern portion of the Athabasca Basin region of northern Saskatchewan. Denison's interests in Saskatchewan also include a 22.5% ownership interest in the McClean Lake joint venture ("MLJV"), which includes several uranium deposits and the McClean Lake uranium mill, contracted to process the ore from the Cigar Lake mine under a toll milling agreement, plus a 25.17% interest in the Midwest and Midwest A deposits, and a 66.90% interest in the Tthe Heldeth Túé ("THT," formerly J Zone) and Huskie deposits on the Waterbury Lake property. Each of Midwest, Midwest A, THT and Huskie are located within 20 kilometres of the McClean Lake mill.
Denison is engaged in mine decommissioning and environmental services through its Closed Mines group (formerly Denison Environmental Services), which manages Denison's Elliot Lake reclamation projects and provides post-closure mine care and maintenance services to a variety of industry and government clients.
Denison's Key Assets Today:
Flagship Wheeler River Project
- Denison’s Flagship property in eastern Athabasca Basin
- Phoenix + Gryphon staged co-development
- PFS completed Q3'18 with 38.7% IRR and pre-tax NPV of $1.3B (8% discount)
- Selection of ISR mining method for Phoenix with onsite processing at Wheeler River
McClean Lake Mill
- Strategic high-grade uranium mill
- 6 M lbs/year excess milling capacity
- Contracted to process Cigar Lake ore
- 24 M lbs /year lic. capacity
Diverse Project Portfolio
- Interests in Midwest (25.17%), McClean (22.5%), and Waterbury (66.90%)
- 270,000 hectares of Athabasca exploration properties
Cash Flow from UPC & Closed Mines Ops.
- Management Services Agreement with UPC (TSX: U)
- Closed mines Operations division based in Elliot Lake