UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE
13a-16 OR 15d-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934
Date: January 24, 2024
Commission File Number: 001-33414
Denison Mines Corp.
(Name of
registrant)
1100-40 University Avenue
Toronto Ontario
M5J 1T1 Canada
(Address of
principal executive offices)
Indicate by check mark whether the registrant files
or will file annual reports under cover Form 20-F or Form
40-F.
Form
20-F ☐ Form 40-F ☒
Indicate by check mark if the registrant is submitting the
Form 6-K in paper as permitted by Regulation S-T Rule
101(b)(1): ☐
Indicate by check mark if the registrant is submitting the
Form 6-K in paper as permitted by Regulation S-T Rule
101(b)(7): ☐
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act
of 1934, the registrant has duly caused this report to be signed on
its behalf by the undersigned, thereunto duly
authorized.
|
|
|
|
|
|
|
|
|
|
|
|
|
DENISON MINES
CORP.
|
|
|
|
|
|
|
|
|
|
/s/ Amanda Willett
|
|
Date: January
24, 2024
|
|
|
|
Amanda
Willett
|
|
|
|
|
|
Vice
President Legal and Corporate Secretary
|
FORM 6-K
EXHIBIT INDEX
NEWS
RELEASE
Orano
Canada and Denison Announce JV Approval
to Restart McClean Lake
Mining Operations
January 24,
2024. Orano Canada
Inc. (“Orano Canada”), and Denison
Mines Corp. (“Denison”) (TSX:
DML, NYSE American: DNN), as joint-venture partners in the
McClean Lake Joint Venture (“MLJV”), are pleased to
announce that the MLJV has approved a restart of uranium mining
operations using the joint venture’s patented Surface Access
Borehole Resource Extraction (“SABRE”) mining method.
Orano Canada owns a 77.5% interest and is the operator of the MLJV
and Denison owns a 22.5% interest.
Mining is planned
to commence at the McClean North deposit in 2025, with 2024
activities expected to focus on preparations necessary to ready the
existing SABRE mining site and equipment for continuous commercial
operations, as well as the installation of eight pilot holes for
the first mining cavities planned for excavation. The approved
budget for this work in 2024 is $7 million (100%
basis).
Approximately
800,000 lbs U3O8 (100% basis) are
targeted for production from McClean North in 2025, with
approximately 3,000,000 lbs U3O8 (100% basis)
identified for potential additional production from a combination
of the McClean North and Caribou deposits during the years 2026 to
2030.
Jim Corman, Orano
Canada’s President and Chief Executive Officer, said,
“Our
current ability to capitalize on the strengthening uranium and
nuclear markets is the result of a long-term investment in R&D
within Orano and the MLJV to secure continued activities at the
McClean Lake operation well into the future. The groundwork we do
over the course of 2024, is expected to put the MLJV in position to
see SABRE in action and to commence production in 2025. It is
anticipated that the McClean Lake mill will have sufficient
capacity to process this ore, while continuing with committed
planned production from Cigar Lake. It’s an exciting time for
employees, partners, and the industry as we return to a focus on
growth.”
David Cates, Denison’s
President and Chief Executive Officer, commented,
“The
restart of uranium mining at McClean Lake is a notable milestone
for the MLJV and Denison. Mining at McClean Lake was suspended in
2008 in response to declining uranium prices. During the interim 15
years, the MLJV invested in the development of a proprietary mining
method designed to selectively extract high-grade Athabasca Basin
uranium ores from surface. The successful mining test of the SABRE
method in 2021 provided the MLJV with important information about
the productivity and cost of SABRE operations. This information
suggests an incentive price meaningfully lower than current uranium
prices, which has provided the JV with a strong basis to make a
restart decision for mining at McClean Lake.
We would like to thank our colleagues at Orano Canada for their
efforts to develop the SABRE method to a commercial-ready state,
which has allowed for the joint venture to make the decision to
resume production at McClean Lake.”
About SABRE
SABRE is the
culmination of a mining equipment invention and development
initiative that began in 2004 and concluded in 2021 with the
completion of multi-year mining test program that successfully
excavated approximately 1,500 tonnes of high-value ore. It is a
non-entry, surface-based mining method that uses a high-pressure
water jet placed at the bottom of a drill hole to excavate a mining
cavity. The cuttings from the excavation process are then air
lifted to surface, separated, and stockpiled. SABRE is viewed as an
innovative mining method that has the potential to allow for
economic access to relatively small high-grade orebodies in the
Athabasca Basin that are either too small or too deep to be mined
economically by conventional open-pit and/or underground mining
methods.
SABRE is unique
in that the mining method can be selective and scalable, which has
the potential to provide superior flexibility when compared to
conventional mining methods and is thus ideally suited to ever
changing uranium market conditions – with an expected
production ramp up of months instead of years. The SABRE method has
environmental advantages when compared to conventional open pit or
underground mining methods as a result of its less intrusive nature
and smaller surface footprint. Reduced water usage and power
consumption also contribute to important reductions in greenhouse
gas emissions and improved sustainability. Additionally, as a
non-entry mining method, radiological exposure for mine workers is
minimized.
For additional
information about the SABRE mining test completed in 2021, please
refer to the Orano Canada and the Denison joint news release dated
November 3, 2021.
About McClean Lake
The McClean Lake
property is located within the eastern part of the Athabasca Basin
region in northern Saskatchewan, approximately 750 kilometres north
of Saskatoon. The mineral property consists of 4 mineral leases
covering an area of 1,147 hectares and 13 mineral claims covering
an area of 3,111 hectares. The right to mine the McClean Lake
deposits was acquired under the mineral leases, as renewed from
time to time.
Additional
information about the McClean North and Caribou deposits can be
found in the technical reports entitled “Technical Report on
the Mineral Resource Estimate for the McClean North Uranium
Deposits, Saskatchewan” dated January 31, 2007, and the
“Technical Report on the Denison Mines Inc. Uranium
Properties, Saskatchewan, Canada” dated November 21, 2005, as
revised February 16, 2006, respectively, copies of which are
available under Denison’s profile on SEDAR+ and
Denison’s website.
Qualified
Persons
For Orano Canada,
the technical information in this release has been reviewed and
approved by Mr. Louis-Pierre Gagnon, P. Eng., Head of Mining
Engineering, Orano Mining who is a Qualified Person in accordance
with the requirements of Canadian National Instrument 43-101
Mineral Disclosure Standards (“NI
43-101”).
For Denison, the
technical information contained in this release has been reviewed
and approved by Mr. Chad Sorba, P. Geo., Denison’s Vice
President Technical Services & Project Evaluation, and Mr.
Andrew Yackulic, P. Geo., Denison’s Vice President
Exploration, each of whom is a Qualified Person in accordance with
the requirements of NI 43-101.
About Orano Canada
Headquartered in Saskatoon, Saskatchewan, Orano Canada Inc. is a
leading producer of uranium, accounting for the processing of 18
million pounds of uranium concentrate in Canada in 2022. Orano will
celebrate 60 years of exploring for, mining and milling uranium in
Canada in 2024. Orano Canada is the operator of the McClean Lake
uranium mill and a major partner in the Cigar Lake, McArthur River
and Key Lake operations. The company employs over 450 people in
Saskatchewan, including about 320 at the McClean Lake operation
where over 46% of employees are self-declared Indigenous. As a
sustainable uranium producer, Orano Canada is committed to safety,
environmental protection and contributing to the prosperity and
well-being of neighbouring communities.
Orano Canada Inc. is a subsidiary of the multinational Orano group.
As a recognized international operator in the field of nuclear
materials, Orano delivers solutions to address present and future
global energy and health challenges. Its expertise and mastery of
cutting-edge technologies enable Orano to offer its customers high
value-added products and services throughout the entire fuel cycle.
Every day, the Orano group’s 17,000 employees draw on their
skills, unwavering dedication to safety and constant quest for
innovation, with the commitment to develop know-how in the
transformation and control of nuclear materials, for the climate
and for a healthy and resource-efficient world, now and
tomorrow.
Visit Orano at www.oranocanada.com or follow us on LinkedIn,
Facebook and Twitter: @oranocanada
About Denison
Denison is a uranium exploration and development company with
interests focused in the Athabasca Basin region of northern
Saskatchewan, Canada. Denison has an effective 95% interest in its
flagship Wheeler River Uranium Project, which is the largest
undeveloped uranium project in the infrastructure rich eastern
portion of the Athabasca Basin region of northern Saskatchewan. In
mid-2023, a Feasibility Study was completed for Wheeler
River’s Phoenix deposit as an ISR mining operation, and an
update to the previously prepared PFS was completed for Wheeler
River’s Gryphon deposit as a conventional underground mining
operation. Based on the respective studies, both deposits have the
potential to be competitive with the lowest cost uranium mining
operations in the world. Permitting efforts for the planned Phoenix
ISR operation commenced in 2019 and have advanced significantly,
with licensing in progress and a draft Environmental Impact
Statement submitted for regulatory and public review in October
2022.
Denison's interests in Saskatchewan also include a 22.5% ownership
interest in the MLJV, which owns several uranium deposits and the
McClean Lake uranium mill, contracted to process the ore from the
Cigar Lake mine under a toll milling agreement, plus a 25.17%
interest in the Midwest Main and Midwest A deposits and a 67.41%
interest in the THT and Huskie deposits on the Waterbury Lake
property. The Midwest Main, Midwest A, THT and Huskie deposits are
located within 20 kilometres of the McClean Lake mill.
Through its 50% ownership of JCU (Canada) Exploration Company, Ltd
('JCU'), Denison holds additional interests in various uranium
project joint ventures in Canada, including the Millennium project
(JCU, 30.099%), the Kiggavik project (JCU, 33.8118%) and Christie
Lake (JCU, 34.4508%).
Denison's exploration portfolio includes further interests in
properties covering approximately 285,000 hectares in the Athabasca
Basin region.
Learn more at www.denisonmines.com or follow
Denison on X (formerly Twitter): @DenisonMinesCo.
For more information, please contact
Orano Canada Inc.:
Carey
Hyndman
Manager,
Communications and Stakeholder Engagement(306)
343-4503
Denison
Mines Corp.:
David
Cates (416) 979-1991 ext. 362
President and
Chief Executive Officer
Geoff Smith (416) 979-1991 ext. 358
Vice
President Corporate Development & Commercial
Cautionary
Statement Regarding Forward-Looking Statements
Certain information contained in this press release constitutes
"forward-looking information", within the meaning of the United
States Private Securities Litigation Reform Act of 1995 and similar
Canadian legislation concerning the business, operations and
financial performance and condition of Denison. Generally, these
forward-looking statements can be identified by the use of
forward-looking terminology such as "plans", "expects", "budget",
"scheduled", "estimates", "forecasts", "intends", "anticipates", or
"believes", or the negatives and/or variations of such words and
phrases, or state that certain actions, events or results "may",
"could", "would", "might" or "will be taken", "occur", "be
achieved" or "has the potential to". In particular, this press
release contains forward-looking information pertaining to the
following: the anticipated site preparations and mining activities
and estimates for the timing and budget thereof; the ability to
successfully deploy the SABRE mining method and achieve the
objectives of the MLJV; the environmental and safety benefits of
the SABRE mining method; the targeted production at McClean North
from 2025 to 2030 and other potential targets for production; and
Denison’s percentage interest in its properties and its plans
and agreements with its joint venture partners.
Forward looking statements are based on the opinions and estimates
of management as of the date such statements are made, and they are
subject to known and unknown risks, uncertainties and other factors
that may cause the actual results, performance or achievements of
Denison to be materially different from those expressed or implied
by forward-looking statements. Denison and Orano Canada believe
that the expectations reflected in this forward-looking information
are reasonable but no assurance can be given that these
expectations will prove to be accurate and may differ materially
from those anticipated in this forward looking
information.
For a discussion in respect of risks and other factors that could
influence forward-looking events for Denison, please refer to the
factors discussed in Denison’s Annual Information Form dated
March 27, 2023 under the heading “Risk Factors”. These
factors are not, and should not be construed as being,
exhaustive.
Accordingly, readers should not place undue
reliance on forward-looking statements. The forward-looking
information contained in this press release is expressly qualified
by this cautionary statement. Any forward-looking information and
the assumptions made with respect thereto speaks only as of the
date of this press release. Neither Denison nor Orano Canada
undertakes any obligation to publicly update or revise any
forward-looking information after the date of this press release to
conform such information to actual results or to changes in their
respective expectations except as otherwise required by applicable
legislation.
Cautionary Note to United States Investors Concerning Estimates of
Mineral Resources and Mineral Reserves:
This news release may use the terms 'measured', 'indicated' and
'inferred' mineral resources. United States investors are advised
that such terms have been prepared in accordance with the
definition standards on mineral reserves of the Canadian Institute
of Mining, Metallurgy and Petroleum referred to in NI 43-101 and
are recognized and required by Canadian regulations. 'Inferred
mineral resources' have a great amount of uncertainty as to their
existence, and as to their economic and legal feasibility. Under
Canadian rules, estimates of inferred mineral resources may not
form the basis of feasibility or other economic studies. United
States investors are cautioned not to assume that all or any part
of an inferred mineral resource exists and/or will ever be upgraded
to a higher category, nor assume that all or any part of measured
or indicated mineral resources will ever be converted into mineral
reserves.
Effective February 2019, the United States Securities and Exchange
Commission (“SEC”) adopted amendments to its disclosure
rules to modernize the mineral property disclosure requirements for
issuers whose securities are registered with the SEC under the
Exchange Act and as a result, the SEC now recognizes estimates of
"measured mineral resources", "indicated mineral resources" and
"inferred mineral resources". In addition, the SEC has amended its
definitions of "proven mineral reserves" and "probable mineral
reserves" to be "substantially similar" to the corresponding
definitions under the CIM Standards, as required under NI 43-101.
However, information regarding mineral resources or mineral
reserves in Denison's disclosure may not be comparable to similar
information made public by United States companies.
Denison Mines (AMEX:DNN)
過去 株価チャート
から 12 2024 まで 1 2025
Denison Mines (AMEX:DNN)
過去 株価チャート
から 1 2024 まで 1 2025
