Liens Investment Thesis
Denison Mines (NYSE: DNN ) did last month release a very strong feasibility study ("FS") on Phoenix and an updated pre-feasibility study ("PFS") on Gryphon, which are both part of the 95% ownership of the Wheeler River project. Phoenix is the core ISR asset and Gryphon is an underground asset, several years behind Phoenix in the development pipeline, with very respectable figures as well.
The updated figures for Phoenix and Gryphon confirm the attractive valuation for the company. In this article, I will discuss the figures that were released and break down the valuation of the company.
The stock price of Denison has mostly been rangebound between $1 and $2 over the last two years, where the stock price is still in the lower part of that range, even if we have seen a bounce from the most recent lows. Figure 1 – Source: Koyfin Phoenix Feasibility Study […]
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