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Uranium Company Decides to Advance Athabasca Project

Source: Streetwise Reports

 

December 31, 2018 (Investorideas.com Newswire) A ROTH Capital Partners report considers this Canadian firm's news a positive development.


In a Dec. 19 research note, analyst Joe Reagor reported that Denison Mines Corp. (DML:TSX; DNN:NYSE.MKT) intends to advance Wheeler River, its Athabasca Basin uranium project, into the permitting phase, beginning with an environmental assessment.

"We view this as a positive step towards eventually developing the project," he added.

The forecasted budget for moving forward in 2019 is $10.3 million. Denison has committed to funding its part, about 90% of the total.

Reagor noted that a potential near-term, "significant positive" catalyst for the uranium explorer/developer is the receipt of successful results from in situ recovery testing for the Phoenix deposit, where it intends to do wellfield and pilot plan testing.

Permitting activities, including the economic assessment, will not likely move the stock in 2019—but could in subsequent years, indicated Reagor.

ROTH's valuation on Denison remains the same, as do its Buy rating and $1.40 per share price target. The energy company's share price today is about $0.63.

Disclosure

1) Doresa Banning compiled this article for Streetwise Reports LLC and provides services to Streetwise reports as an independent contractor. She or members of her household own securities of the following companies mentioned in the article: None. She or members of her household are paid by the following companies mentioned in this article: None.

2) The following companies mentioned in this article are sponsors of Streetwise Reports: None. Click here for important disclosures about sponsor fees.

3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.

4) The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.

5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the interview or the decision to write an article until three business days after the publication of the interview or article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases.

Disclosures from ROTH Capital Partners, Denison Mines Corp., Company Note, December 19, 2018

Regulation Analyst Certification ("Reg AC"): The research analyst primarily responsible for the content of this report certifies the following under Reg AC: I hereby certify that all views expressed in this report accurately reflect my personal views about the subject company or companies and its or their securities. I also certify that no part of my compensation was, is or will be, directly or indirectly, related to the specific recommendations or views expressed in this report.

ROTH makes a market in shares of Denison Mines Corp. and as such, buys and sells from customers on a principal basis.

Shares of Denison Mines Corp. may be subject to the Securities and Exchange Commission's Penny Stock Rules, which may set forth sales practice requirements for certain low-priced securities.

ROTH Capital Partners, LLC expects to receive or intends to seek compensation for investment banking or other business relationships with the covered companies mentioned in this report in the next three months.


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