UPDATE: Denison Mines Reports Increased Resource Estimate for Phoenix Deposits; Stock Rises 5.5% at Midday

By Midnight Trader,  January 09, 2013, 12:08:54 PM EDT

Denison Mines Corp. (DML.TO) announced an updated Mineral Resource Estimate for the high grade Phoenix A and Phoenix B uranium deposits on its Wheeler River project in Northern Saskatchewan.

The mineral resource estimate update represents a 47% increase in indicated lbs U3O8 and a 100% increase in inferred lbs U3O8 over the previous mineral resource estimate done in 2010.

DML went up by nearly 5.5% to $1.35, moving further away from year low $1.04. Volume traded is over 3.3 million, making it the third most active on the TSX.




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Commodities

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