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

To: Lalit Jain who wrote (185)	12/20/1998 9:31:00 PM
From: Lalit Jain	Read Replies (1) \| Respond to of 301

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