#Denison mines fission uranium free#
Free Cash Flows: The toll-milling of ore from the Cigar Lake mine under a toll milling agreement between the McClean Lake Joint Venture and the Cigar Lake Joint Venture and management fees from Uranium.Continued Exploration Potential: Exploration foothold in both the historically prolific Eastern Athabasca Basin and the emergent Western Athabasca Basin, with a dominant combined land package of over 430,000 hectares and a sizeable base of mineral resources defined under NI 43- 101, providing the foundation for future resource growth.Consolidation of Strategic Uranium Assets: An unrivaled portfolio of strategic uranium asset interests in the Athabasca Basin, headlined by Fission’s 100% owned PLS Project and Denison’s 60% owned Wheeler River Project and including Denison’s interests in the Midwest, McClean Lake, Waterbury Lake, Mann Lake, and Wolly projects, as well as Denison’s strategic 22.5% ownership interest in the McClean Lake Mill.Denison has a strong, diversified portfolio and, with the Triple R deposit, Fission is bringing the Athabasca Basin’s largest undeveloped high-grade resource as well as a successful and award-winning technical and management team.” We are confident that our shareholders will benefit from the value creation opportunities that will be realized through an expanded and more diversified uranium company.”ĭev Randhawa, Chairman & CEO of Fission, stated: “This merger will create the uranium industry’s leading exploration and development company at a time when the sector is poised for growth. Ron Hochstein, Executive Chairman of Denison, commented: “The continued exploration success at our Phoenix deposit and Gryphon discovery, in combination with the discovery and exploration success of the world class Triple R deposit puts the combined company in an incredibly strong strategic position, with the most significant development portfolio in the world. The deal implies a price per Fission common share of $1.25, a roughly 18% premium to the ruling price. The market capitalization of Denison and Fission on a combined basis is anticipated to be approximately CAD$900 million.