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Uranium Miners Finding New Support on Monday - New Iran Sanctions May Be Aiding Gains

Denison Mines Corp. (DML.TO) is 0.11 higher to 1.37 today, riding a fresh wave of enthusiasm for uranium miners and processors.

Denison's 9% gain leads today's session for the sector. Cameco Corp. (CCO.TO) was up 0.19 - or slightly less than 1% - getting a big jump during the first half hour after Ottawa announced new sanctions against Iran in a bid to convince the country to scrap its nuclear-power program. Paladium Energy (PDN.TO), which is preparing a $27-mln takeover of NGM Resources in Australia, is up 0.04 to 3.52.

The gains are far from uniform, however, with both Uranium One (UUU.TO) and First Uranium (FIU.TO) losing ground today.

is a mid-sized uranium producer in North America, with mining assets in the Athabasca Basin region of Saskatchewan, Canada and the southwest United States including Colorado, Utah, and Arizona. The Company also has ownership interests in two of the four conventional uranium mills currently operating in North America.

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

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