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Gold/Mining/Energy : Denison Mines - DEN on Toronto..does anyone follow it?
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To: Ronnie Commisso who wrote (2)6/21/1996 1:40:00 AM
From: Jason Marcotte   of 38
 
DEN Receiving Media Attention

Ronnie,
I have just recently begun following Denison in the past couple
of weeks. I don't own any shares but I may purchase some in the future.

Actually my father began his career at Denison in Elliot Lake
when they were just beginning operations.

There was an article in the June 10 edition of the Northern
Miner basically saying that Denison is a good buy. In the article they
said that Denison has a market cap of $117 million, which translates
to $5.43 per lb. of uranium reserves, or $77 per lb of production.
By comparison, Cameco's market cap of $3.85 billion is $10.15 per pound
of reserves, or $191 per lb production.

The article indicated 2 risks for this stock. First, the
price of uranium. However, this is expected to increase. Second, the
ongoing cleanup of four tailings sites at their former mines in Elliot
Lake. The company has earmarked $45 million for cleanup. However their
cleanup plan is under review by the Atomic Energy Control Board. Apparently
a panel studying the plans was going to release its report in mid June.

A few days after reading the Northern Miner article I also saw
Denison popping up in the June 7 edition of Investor's Digest. The article
was an interview with a mutual fund manager of a closed end mutual fund.
The manager predicted that Denison should emerge as the number two Canadian
uranium stock. He also sees good things for the uranium industry in general.

I'll keep you posted if I hear anything else.

Jason
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