McLean Lake licencing progress
Denison Mines Ltd DEN
Shares issued 317,871,201 Dec 17 close $0.095
Thu 17 Dec 98 News Release
Mr. E. Peter Farmer reports
At the Atomic Energy Control Board meeting held Dec. 17, 1998, the AECB
determined that it would defer final approval of the construction of the
JEB Tailings Management Facility at the McClean Lake project, in which
Denison has a 22.5 per cent interest.
The AECB stipulated that, because of the construction deficiencies which
have occurred, it will require further evidence satisfactory to it that the
TMF design and specifications will meet the stipulated performance criteria
before final approval will be given. The operator of the facility, Cogema
Resources Inc., believes that satisfactory evidence can be provided in time
for the Jan. 28 or Feb. 24 AECB meeting. Initial application of the
operating licences necessary to commence U(3)O(8) production can be held
concurrently with final approval of the TMF's construction.
Commencement of production from McClean Lake cannot be expected before
April 1999.
In relation to Denison's situation in Greece, all production from the
Prinos oil operations has ceased, the operations have been made gas free
and all employees except for a skeleton staff of 40 people were terminated
as of Dec. 7, 1998. Negotiations to restructure the operations are
continuing.
(c) Copyright 1998 Canjex Publishing Ltd. canada-stockwatch.com |
