Denison acquires a 19.95% stake in Foremost in exchange for a 20% stake in its uranium assets. Foremost has the option to increase its stake to 70%.
Denison Mines is a Canadian uranium development company listed in the U.S. and Canada, with recent stock price volatility. Denison's main asset is the Wheeler River Project, including Phoenix and Gryphon, with strong projected economics. Denison is well-capitalized with no debt, trading at an attractive valuation, with an enterprise value to NAV ratio of 0.5 using current uranium prices.
Denison Mine (DNN) came out with a quarterly loss of $0.01 per share in line with the Zacks Consensus Estimate. This compares to break-even earnings per share a year ago.