Monday, December 11, 2006

Dec 11 Uranium Stocks Update: Denison Mines (TSE:DML)

Ron Hochstein, now president and COO of Denison Mines (TSE:DML) after the official merger of International Uranium Corporation (IUC) and Denison was on RoBTV several days ago commenting on the company's recent attempted acquisition of Australia's OmegaCorp. (OMC.AX). The main impetus for acquiring seems to be OmegaCorp's Kariba asset in Zambia. This is what Hochstein had to say:

"we were targeting products and companies who could bring production in very near-term..2010-2011..Lundin family very comfortable with, our board very comfortable with..right now we are looking at producing 5 million pounds by 2010..this will add additional 1.5 million pounds, plus exploration potential"

On the subject of soaring uranium stock prices and uranium spot price, Hochstein had this to say:

"we are still seeing tremendous shortage..with Cigar Lake flood, accentuated industry overall..tight supply..we will need higher costs have increased, operating costs have increased..I think uranium price will increase..many analysts coming out with $100/lb..we will definitely see continued increase..essentially, Cameco will be coming out shortly with prognosis..we are looking at anywhere from 2-5 years, more likely to be 5 years..we have seen number of utilities jumping into the market to shore up supplies..Denison Corp will be well-positioned to take advantage."


Blogger MM15 said...

You may want to do some DD on International Montoro Resources. IMT on the tsx venture.
Very promising properties, including almost 2 MILLION POUNDS of DRILL PROVEN URANIUM on one of their properties!!

IMT tsx-v
10 million shares
Last traded @ .48 cents

2:32 PM  

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