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Denison Mines Corp. (DNN)

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1,1900+0,0400 (+3,48%)
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  • N
    Napalm
    $DNN $PALAF $CCJ $NXE

    FSY.TO

    The potential of Forsys Metals is underestimated by the market.

    Why?

    First. Chinese utilities started renewing their long term U3O8 supply by purchasing existing mines!
    CNNC bought a 66% stake in Rossing mine in Namibia (July 2019) (Total production cost > 65$/lb U3O8)
    CGN just bought 49% of Ortalyk (2 Kazak mines: Mynkuduk and Zhalapak uranium deposits) from Kazatomprom (Deal completion: in 2021)
    Husab mine in Namibia is 90% in the hands of CGN, Uranium Resources and the China-Africa Development Fund (Total production cost > 45$/lb U3O8)
    The chinese utilities like Namibia!

    Second. Forsys Metals:
    ⁃ Norasa asset is situated 35 km from Rossing;⁃ has a Definitive Feasibility Study since March 2015;
    ⁃ Mineral Reserves: 90.70 million lb U3O8;⁃ Operational cost: 34,72$/lb U3O8;⁃ already received a Mining Licence for Norasa;
    ⁃ has also other permits: Environmental Clearance, Desalination,...

    Third. With a stockprice of 0,98CAD, Forsys Metals is only valued at 1,18$/U3O8 lb in reserve by the market compared to:
    ⁃ U3O8 spotprice around +-30$/lb today;
    ⁃ U3O8 price of at least 60+$/lb needed to get the supply and demand back in equilibrium in the long term
    ⁃ Kevin Bambrough and others taking about an U3O8 price of at least 150 - 200$/lb in the future

    The Chinese utilities don't care very much about the U3O8 offtake price (We see it with their purchase of 66% of Rossing in 2019), they care about the uranium supply security for their fast growing numbers of nuclear reactors!

    For me, Forsys Metals has all the potential to be the next takeover by CNNC or CGN.

    Fourth. Why don't we find a lot of information about it?

    In my opinion, because they are already well advanced since 2015. So between 2015 and 2020 Forsys Metals just had to wait the uranium market to improve and while waiting doing as less as possible to not burn cash.

    I have a stake in Forsys Metals and in a couple years from now (2 to 5y, but it could all of a sudden happen much sooner) when uranium price overshoots 60+$/lb (for instance100$/lb) Forsys Metals will easily reach a value of 8,00 to 10,00$/U3O8 lb in reserve, meaning a 7x to 10x from here.

    Big explosive potential, but don't go all in on Forsys Metals. Keep it a small position compared to other uranium positions that you own.

    Fyi. I’m a long term uranium bull and I’m invested in more then 20 different uranium companies

    Cheers
  • J
    Joonas
    Cameco Corporation
    Thoughts on uranium participation corp sprott deal? How will this affect the physical uranium investment market? $CCJ $UPC $UUUU $URNM $DNN
  • N
    Napalm
    This is big for UEX!

    UEX Corp signed a C$10M cash deal to acquire 100%-interest in JCU (Canada) Exploration Co Ltd., making UEX the 2nd largest junior resource holder in the Athabasca Basin.

    By doing this acquisition they double their U3O8 resources, with:
    - 10% in Phoenix project (JV with Denison mines)
    - 30,10% in Millennium project (JV with Cameco)
    - 33,80% in Kiggavik project (JV with Orano)
    - the remaining 34,45% in Christie Lake project (becoming 100% owner)

    https://www.uexcorp.com/news/uex-to-acquire-100-ownership-of-jcu-canada-exploration-company-limited-

    Cheers

    $CCJ $DNN $UEC $URNM $UEX.TO
  • N
    Napalm
    $URG $UEC $DNN $UUUU

    China approved the construction of five nuclear power units, with total installed capacity of 4.9 GW, roughly 10% of the country’s total, two sources said, as Beijing strives for alternatives to fossil fuel to meet its climate goals.

    https://financialpost.com/pmn/business-pmn/china-gives-green-light-to-nuclear-units-to-cut-carbon-sources-say/wcm/cd2909ee-3243-4c86-a8e7-c522db8e3099/amp/?__twitter_impression=true

    China decided to go from +-50GW nuclear power in 2020 to 70GW of nuclear power in 2021 in China! And now they are pushing trough with new approvements and new reactor construction starts.

    Construction Officially Begins Of Two New Hualong One Reactors At Changjiang :The Independent Global Nuclear News Agency

    https://www.nucnet.org/news/construction-begins-of-two-new-hualong-one-reactors-at-changjiang-4-4-2021

    Cheers
  • N
    Napalm
    China just approved the construction of five new nuclear power units
    China approved the construction of five nuclear power units, with total installed capacity of 4.9 GW, roughly 10% of the country’s total, two sources said, as Beijing strives for alternatives to fossil fuel to meet its climate goals.

    https://financialpost.com/pmn/business-pmn/china-gives-green-light-to-nuclear-units-to-cut-carbon-sources-say/wcm/cd2909ee-3243-4c86-a8e7-c522db8e3099/amp/?__twitter_impression=true

    China decided to go from +-50GW nuclear power in 2020 to 70GW of nuclear power in 2025 in China!

    And now they are pushing through with new approvements and new reactor construction starts.

    Construction Officially Begins Of Two New Hualong One Reactors At Changjiang :The Independent Global Nuclear News Agency

    https://www.nucnet.org/news/construction-begins-of-two-new-hualong-one-reactors-at-changjiang-4-4-2021

    CGN and CNNC are going to buy more existing uranium projects abroad, like they did with Husab, Rossing (66%), Langer Heinrich (25%), Fission Uranium Corp, ...

    Who is next?
    Namibia is a mining country they like.

    Forsys Metals?
    Bannerman?

    Cheers

    $UUUU $DNN $NXE $URG
  • N
    Napalm
    And it keeps going on...

    UEC, Encore Energy and Peninsula Energy just announced additional spotprice purchases.

    https://resourcestockdigest.com/archives/news_releases/uranium-energy-corp-expands-physical-uranium-initi/

    https://www.prnewswire.com/news-releases/encore-energy-corp-announces-strategic-acquisition-of-physical-uranium-301262522.html

    Note: There is a difference between UEC and EnCore Energy on the one hand and Peninsula Energy on the other hand.

    Peninsula Energy is actually a uranium company with LT contracts with utilities in place like Cameco and Kazatomprom buying uranium in the spot to fullfile long term commitments.

    UEC, EnCore Energy, Denison mines and Boss Resources (Honeymoon in care and maintenance) are developers that buy uranium as a guarantee for future LT contracts they yet need to get. They will hold that uranium much longer then Peninsula Energy.

    Peninsula Energy will sell those pounds in 2022

    Cheers

    $UEC $DNN $URNM $CCJ
  • N
    Napalm
    Denison mines, Uranium developer in the Athabasca Basin - An overview

    Wheeler River project (90% ownership), Phoenix deposit: all-in-cost: 11,57$/lb U3O8 (ISR method), average cash operation cost: 4,33$/lb U3O8 (estimated first production in 2024)

    Wheeler River project, Gryphon deposit: all-in-cost: 29,67$/lb U3O8 (ISR method), average cash operation cost: 15,21$/lb U3O8

    Waterbury Lake project (64,20% ownership), J Zone deposit: all-in-cost: 24,93$/lb U3O8 (ISR method), average cash operation cost: 12,23$/lb U3O8

    Today the spotprice of uranium is around 31$/lb!

    Phoenix ramp up planned in 2024, Gryphon ramp up planned in 2030

    They are making significant progress on their Phoenix project --> On 9 November 2020 they decided to resume the Environmental Assessment process for Wheeler River

    And now they have 2.5 M lb uranium in stock at 29,61$/lb that they even don’t have to mine anymore, that:
    - they will sell at a much higher price a view years from now or;
    - they can use as a guarantee for financing in 2023/2024.

    They have recurrent revenue from their 22,5% stake in the McClean Lake mill

    Phoenix project will be permitted under the CEAA 2012 which is a huge benefit tot he project. Other projects under this framwork, permitting averages under 2 years!!

    The timing is perfect if you look at the macro fundamentals from now till 2025 and the fast growing structural deficit from 2025

    Denison mines is more and more in position to do what Paladin Energy did with the start of Langer Heinrich mine production in the previous bull run (2004/2007)

    I’m strongly bullish for the coming months and couple of years

    $DNN $UUUU $PALAF $CCJ

    I’m also strongly bullish for other uranium companies, like Energy Fuels, UR-energy, Peninsula Energy, Paladin Energy, Boss Resources, UEX Corp,...

    And Cameco, URNM etf, HURA etf, ... are no brainer LT investments for those who want to take less risk in their uranium investment

    Cheers
  • N
    Napalm
    $UUUU $URG $DNN $UEC

    For those interested in a detailed explanation (my own opinion) on the situation in the spotmarket today combined with the signal from Cameco yesterday announcing the restart of Cigar Lake while the Covid cases are peaking in Canada:

    https://www.reddit.com/r/UraniumSqueeze/comments/mo4a3d/now_we_know_how_much_u3o8_is_left_in_the_spot/

    Cheers
  • K
    KR
    $PALAF conversation
    $DNN $PALAF $NXE $HYSR $UUUU $UEC $URG
  • N
    Napalm
    $UUUU $DNN $UEC $URG

    How undervalued is the entire uranium sector at the moment?

    Different way to look at it.
    Here are 2 ways:

    1 The combined market cap of the ENTIRE uranium sector today (+-20 billion USD) =

    - 3.5% of the market cap of Tesla (590 billion USD)
    - 2.5% of the market cap of Facebook (808 billion USD)
    - 1.5% of the market cap of Amazon (1529 billion USD)

    - 1% of the market cap of Saudi Arabian Oil Co. (Saudi Aramco) (1855 billion USD)
    - 17.5% of the market cap of Petrochina (almost 115 billion USD)
    - 26.5% of the market cap of China Petroleum & Chemical Corp (75 billion USD)
    - 8.5% of the market cap of Exxon Mobil Corp (240 billion USD)
    - 10% of the market cap of Chevron Corp (204 billion USD)
    - 15% of the market cap of Royal Dutch Shell (132 billion USD)
    - 0.8% of the combined market cap of the 6 oil companies mentioned above (2621 billion USD) !!

    - 14% of the market cap of Boeing (142 billion USD)
    - 41,5% of the market cap of Newmont Corp (almost 48 billion USD)- …

    Yet, Nuclear energy now provides about 10% of the world’s electricity. Nuclear energy is the world's second largest source of low-carbon power (29% of the total in 2018).

    2) The combined market cap of the ENTIRE uranium sector today (+-20 billion USD) compared to a combined market cap of +- 150 billion USD it had in 2011
  • N
    Napalm
    $UUUU $PALAF $DNN $UEX.TO

    Great! Now David Cates (CEO of Denison mines and Uranium Participation), you can launch the U3O8 purchase with Uranium Participation!

    Denison Announces Successful Procurement of 2.5 Million Lbs U3O8 as Part of Project Finance Initiative | Denison Mines Corp.

    https://www.denisonmines.com/news/denison-announces-successful-procurement-of-2-5-mi-122732/
  • N
    Napalm
    $CCJ $NXE $DNN $UUUU $URG

    From +-50GW nuclear power in 2020 to 70GW of nuclear power in 2021 in China!

    Construction Officially Begins Of Two New Hualong One Reactors At Changjiang :The Independent Global Nuclear News Agency

    https://www.nucnet.org/news/construction-begins-of-two-new-hualong-one-reactors-at-changjiang-4-4-2021

    Cheers
  • N
    Napalm
    $URG $UEC $DNN $UUUU

    Let’s put the Cigar Lake restart in perspective: “How big is the uranium deficit in the future?”

    https://www.reddit.com/r/UraniumSqueeze/comments/mj8700/how_big_is_the_uranium_deficit_in_the_future/

    Cheers
  • N
    Napalm
    The last 3 weeks UEC (2d ago), Denison mines (3d ago) and Yellow Cake announced they will take 7,200,000 lb of U3O8 out of the market

    According to TradeTech, there is only 3 million pounds of active uranium supply in the entire spot market as of Friday. 7.2 Mlb compared to only 3 Mlb!

    Next: Big brother, Uranium Participation announcing the same as Yellow Cake, starting to buy additional U3O8 from the spot!

    Followed by the U3O8 spot buying from uranium producers Cameco, Orano, Kazatomprom,...

    To put those volumes in perspectif.

    That’s 7.2M lb U3O8 that will be purchased WITH PHYSICAL DELIVERY in the spotmarket, while the total annual volume traded in the spotmarket (mainly back and forth transactions WITHOUT PHYSICAL DELIVERY) in 2019 was 63.3Mlb.

    While uranium demand from utilities is price inelastic!

    Fyi, this is posted on different boards simultaneously.

    $DNN $UUUU $URG $UEC $NXE
  • N
    Napalm
    To all the uranium investors,

    A must see interview of 3 experts!! (1,5h)

    https://www.wsw.com/webcast/canaccord57/register.aspx?conf=canaccord57&page=presentation&url=https://www.wsw.com/webcast/canaccord57/presentation/index.aspx

    Probably a big eye opener gor new uranium investors + a fuel buyer acknowledging that a supply problem is coming and by consequence the supply risk for utilities is rapidly growing

    Cheers

    $CCJ $DNN $NXE $PALAF $URA
  • N
    Napalm
    This is huge! UEC just announced that they increased their U3O8 buying!

    Don’t wait too long to take position in a couple uranium companies

    Uranium Energy Corporation: News Releases

    Corpus Christi, TX, March 17, 2021 - Uranium Energy Corp (NYSE American: UEC, the “Company” or “UEC”) is pleased to report that it has secured 800,000 pounds of additional U.S. warehoused uranium, consisting of 500,000 pounds for April delivery and 300,000 pounds for December delivery.

    Including the previously announced acquisition of 400,000 pounds, UEC has now entered into contracts to purchase a total of 1,200,000 pounds of U3O8 at a volume weighted average price of $28.94 per pound.

    $UUUU $UEC $NXE $URG $DNN
  • N
    Napalm
    $DNN $URG $FCU.TO $GLO.TO

    EU experts to say nuclear power qualifies for green investment label: document

    https://mobile.reuters.com/article/amp/idUSKBN2BJ0F0?__twitter_impression=true

    “If 1% of the worlds ESG fund flows were directed into the uranium sector, they would need to own 100% of every listed company at 3x the current sector market cap” Tribeca
  • K
    KR
    $SUNW conversation
    $SUNW $HYSR $DNN $FCEL $GE >>> 2024.
  • N
    Napalm
    Yellow Cake and Kazatomprom agreement: 1,000,000lb uranium delivery schedule between April and August 2021.

    In addition to the above, Yellow Cake has agreed to purchase a further 440,000lb at a price of US$27.34/lb and will take delivery during March 2021.

    This removes material 1,000,000lb + 440,000lb uranium from the already tightening spot market

    https://otp.investis.com/clients/uk/yellow_cake/rns/regulatory-story.aspx?cid=2392&newsid=1460847

    Next: Big brother Uranium Participation

    $UEC $DNN $URNM $U.TO $FCU.TO

    Cheers
  • N
    Napalm
    China from + -50GW early 2020 to 70GW by 2025 --> Impact?

    Hi everyone,
     
    Regarding China's proposed target to have + -70GW of nuclear energy domestically by 2025.
     
    From + -50GW to 70GW!
     
    Kevin Bambrough says the following:
     
    "I believe the updated 5 year plan China announced results in an increase of ~ $ 6mm lbs of additional uranium demand per year. That's all of $ pdn production. One country. One update. Their plans and other countries plans will continue to increase each year. Just watch ... "
     
    I made the calculation myself:
     
    1000MW reactor = 145 to 195 tons of U3O8 per year = 320,000 to 430,000 lb/y
    20GW extra capacity = 20 times 145 to 195 tons of U3O8 per year = 20 times 320,000 to 430,000 lb/y = 6.4 to 8.6 million lb/y.
     
    So yes, Kevin Bambrough himself is a bit modest in his statement.
     
    6,000,000 lb/y is indeed equal to the entire future annual production of Paladin Energy's Langer Heinrich mine.
     
    And Langer Heinrich is not a small mine like Honeymoon or Kayelekera!
    The future production of Lang Heinrich = 2.5 to 3 times the future production of Honeymoon of Kayelekera = 1/3 of the production of Cigar Lake.
     
    The market and the utilities are underestimating what is about to happen in the uranium space, because in addition to China's ambition, there is also:
    - the ambition of India
    - the renewal and growth of Russian nuclear capacity (and temporary reactor license extensions pending completion of new reactors)
    - the restart of Japanese reactors (slower than hoped by the Japanese government, but more than 50% of the pre-fukushima nuclear capacity are gradually being restarted now and in the coming years)
    - the massive license renewals of existing reactors in the USA, Canada, France, Spain, Ukraine, ... ==> each new license renewal causes an additional uranium supply negotiation that wasn’t foreseen before!!!
    - the construction of reactors in countries other than Russia, China and India: UK, South Korea, Turkey, UAE, ...
    - the planned construction of new reactors in Ukraine, Pakistan, Turkey, France, Poland, Egypt, ...
    - the future SMRs that will cause an additional big demand for uranium largely concentrated at the start of each SMR !!!
     
    The utilities are cornered and if they don’t act now, they will pay more than 100$/lb for an important part of their future uranium supply!

    $UUUU $URG $PALAF $DNN

    Cheers