Small-Cap Stock on the Move: Denison Mines Corp. (DNN)

{ Posted on Jan 18 2012 by Ian Decker }
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Categories : All, General Commentary, investorsoup

Shares of Denison Mines Corp. (AMEX: DNN), a mining company engaged in uranium exploration, development, mining and milling, are soaring in today’s trading.

At last check, Denison Mines shares were trading 2.92% higher at $1.76, with volume up from daily average of 862,244 to 1.12 million. In the last three trading sessions Denison Mines shares gained 23%.

Denison Mines shares are soaring in today’s trading after the company announced its final 2011 production and sales volumes and outlines 2012 operating plans.

In 2011, Denison’s uranium and vanadium production was approximately 1 million pounds U3O8 and 1.3 million pounds V2O5 from its White Mesa mill in Utah. The company’s uranium sales in 2011 totaled 1.1 million pounds U3O8 at an average realized price of $58.04 per pound U3O8. Vanadium sales in 2011 were 1.8 million pounds V2O5 equivalent at an average realized price of $6.21 per pound V2O5.

Denison announced that its 2012 operating plan forecast production of 1.4 million pounds U3O8 and 0.6 million pounds V2O5 from its operations in the U.S.

Ron Hochstein, President and CEO of Denison Mines, said that the 2012 plan is focused on increasing uranium production, lowering operating costs and growing its resource base through exploration, in particular in the Athabasca Basin Canada on the Wheeler River project and in Zambia on the 100% owned Mutanga project.

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