Denison Forecasts Uranium Sales of 1.8 Million Pounds U3O8, Cash Flow from Mining Operations of $19.5 Million and Business Development Investments of $16.7 Million in 2010
January 26th, 2010 - Posted in uraniumDenison Mines Corp. (TSX: DML) (NYSE Amex: DNN) (”Denison” or the “Company”) announces that its 2010 operating plan and budget is expected to result in the sale of 1.8 million pounds of U3O8, operating cash flow from mining activities of $19.5 million and net cash flow of $1.0 million after the investment of $16.7 million on business development activities and other net cash outflows of $1.8 million. “Our 2010 plan and budget will not only generate positive cash flow from our operations, while keeping us debt free in a weak uranium price environment, but will also generate sufficient cash flow to fund an aggressive exploration and development program to increase Denison’s production and profitability for the years ahead” said Ron Hochstein, President and CEO of Denison. Unless otherwise stated all figures are in U.S. dollars.
2009 PRODUCTION AND SALES
Denison’s production in 2009 was 1.4 million pounds U3O8 and 501,000 lbs V2O5 from its U.S. operations and its 22.5% share of production from the McClean Lake operation in the Athabasca basin in Canada.
Uranium sales in 2009 totalled 1.1 million pounds U3O8 at an average realized price of $51.17 per pound U3O8. 2009 vanadium sales were 946,000 pounds V2O5. The average realized price was $4.74 per pound V2O5. Inventory available for sale at the end of 2009 is estimated at 484,000 pounds U3O8 and 777,000 pounds V2O5. (more)
