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Gold/Mining/Energy : denison mines -- Ignore unavailable to you. Want to Upgrade?

To: marcos who wrote (192)	6/18/1999 10:45:00 PM
From: Lalit Jain	Respond to of 301

marcos, You are right. Good news and twice in a row. I was starting to wonder as to what it would take for Denison to move. The start up of McLean Lake is very good news indeed. Denison will now be able to get stable cash flow for the 14 years or so. Denison already has a good balance sheet. This will only improve the financials. Imagine what it can do with with the cash flow. Currently you can buy mining reserves for 10 cents on the dollar. It was nice to see Denison hold 20 cents. I think the technical picture tells that Denison is on the up trend. I would not be surprised if goes back to 50 cents over the long run. Nice to hear from you again. Regards, Lalit Jain

To: marcos who wrote (192)	6/18/1999 10:48:00 PM
From: Lalit Jain	Respond to of 301

Denison Mines says AECB approves start-up of McClean uranium project Denison Mines Ltd DEN Shares issued 317,871,201 Jun 17 close $0.14 Fri 18 Jun 99 News Release Mr. E. Peter Farmer reports Denison Mines Ltd., has declared that the Atomic Energy Control Board has given formal approval of the operating licence to permit the McClean Lake project to commence producing uranium concentrates. The McClean processing facilities and related infrastructure have been constructed and commissioned, and uranium ore from the JEB Pit has been stockpiled at the plant site to provide the feed to the facilities during the initial months of operation. It is expected that the final approvals from the Saskatchewan authorities will be received shortly so that production can begin in the next week to 10 days. It is anticipated that the facility will achieve commercial production in October or November this year and be able to operate at above the six-million-pound design capacity for the following 12 months. Denison's share of production is 2.1 million pounds of the first 4.54 million pounds after which Denison will receive its pro rata share of product. The McClean ore reserves, together with those at the adjacent Midwest property, total 85 million pounds of uranium, of which Denison's share is over 19 million pounds. These high-grade reserves are sufficient for a 14-year project life at design production rates and the potential for further discoveries is good. The McClean Lake project is owned 22.5 per cent by Denison, 70 percent by Cogema Resources Inc., which is the operator, and 7.5 percent by OURD (Canada) Co., Ltd. (c) Copyright 1999 Canjex Publishing Ltd. canada-stockwatch.com