Impact: Neutral to Slightly Negative
Denison Mines Corp. (TSX:DML, Not Rated) announced that it has presented a firm C$40.5M offer to Overseas Uranium Resources Development Co Ltd. (OURD) to acquire a 100%-interest in its wholly-owned subsidiary, JCU (Canada) Exploration Co Ltd. This offer exceeds UEX’s C$10M binding definitive agreement signed on April 22nd. We believe the key to this acquisition is 97M lb ofU3O8 across various projects, including the Wheeler River project, which we previously valued at ~US$112.1M.