Jean,
I don't know whats going on, but the stock has suddenly come alive. Maybe investors have suddenly realized that Denison is an undervalued stock.
Today, In my opinion, Denison broke through the 40 cent barrier in a convincing manner, and with good volume. Denison has already stated in its 2nd qtr report that it will be looking for acquisitions. Denison may soon start to look like a growth company. And why not ? I think this years cash flow will exceed 35-40 million dollars. Now a company can do a lot of terrific things with that kind of cash flow.
Also, of lately, the Oil & Gas producers have been very strong. Some of the O&G producers have been bought out. You know, two thirds of Denison's revenues come from Oil production from offshore Greece. Just a few weeks ago, Denison announced a poison pill provision. Its McLean uranium mine will start to produce in early 1998. From the trading patters over the last few weeks, it appears that institutions may have started to take a position in Denison.
I really think this company has potential !
Cheers, Lalit Jain |
