Today we’re going to look at another very popular company with retail investors in the uranium sector, and that’s Denison Mines. With one of the lowest-cost ISR deposits in the world and a wealth of properties and projects in the Athabasca Basin, Denison seems like a sure-fire bet. However, a dismal share structure and extremely low insider ownership raise some red flags.
DISCLAIMER: This is not investing advice, do your own due diligence. I own shares in Denison Mines.
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00:00 Introduction
00:34 Wheeler River
04:45 Other Projects
08:51 Bearish Factors
#uranium #uraniumstocks #denisonmines
8 Comments
Interesting opportunity for sure but with that many o/s shares, WOW, this is major factor for potential investors
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Interesting.
What do you think the chances are of a reverse split?
Interesting that they just bid on UEX. Though. One of my larger positions. Former bull market they hit $14 a share. Currently around $1 a share. I'd be very happy if they can repeat past performance. Good, informative video. Thanks.
I hope UEC acquires UEX instead of Denison seeing as UEC is currently my largest position in uranium.
Just for reference, if we assume an incentive price of 60 USD per pound of u308 for new deposits to come to production which itself is conservative considering 10%+ inflation, 1% grade is then equivalent to 25 grams/tons of gold just for comparison.
Denison Mines belongs to the umbrella of Lundin group of companies owned and operated by legendary oil and gas/mining businessman Lukas Lundin. Mr. Lundin has been an executive chairman of Denison mines in the past (around 2015 I think). It is not clear how much he owns but he definitely owns a large chunk. 7-8 years ago Denison used to own mining assets in Africa. They bundled all of that and sold it to Goviex resources run by Mr. Govind Friedland son of Legendary miner Robert Friedland and Denison became largest shareholder in Goviex in that process again probably because of Mr. Lundin's connection with Friedland family so Denison can focus on its Athabasca basin assets. In the current board, Mr. Ron Hochstein is the chairman and he is a known Lundin group proxy. He runs Lundin gold. Mr. Cates who is the CEO is also a longtime Lundin group person. Probably he owns most of the ~0.6% management stake (around 40 mil shares) is not bad considering he is not the founder/owner of the company.