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Gold/Mining/Energy : denison mines
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To: Alex Harrington who wrote (100)8/21/1997 9:10:00 AM
From: Lalit Jain   of 301
 
Alex,

Thanks for the news. It is amazing how undervalued Denison is at current prices. I am surprised that a takeover bid has not already been launched.

The downward pressure on Denison share price over the past few weeks is a bit puzzling. It is probably in sympathy with the softening Cameco shares. However, Denison derives most of its revenue from Oil production, and recently O&G companies have been soaring. So Denison moving down does not make any sense.

Could it be that someone is trying to drive down Denison's share price inorder to take it over at bargain basement prices ? Denison's current equity per share is about 16 cents per share, with a current annual cash flow of about 13 to 16 cents per share. Anyone taking over Denison at current prices would make a killing.

Cheers, Lalit Jain
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