Denison Mines says uranium price near bottom
Thu Feb 28, 2008 1:32pm EST
TORONTO, Reuters - Uranium prices are near the bottom of their current price cycle, the chief financial officer of Denison Mines (DML.TO) said on Thursday.
Commenting on a plan by Uranium Participation Corp (U.TO) to purchase 900,000 pounds of uranium,
James Anderson, who is also chief financial officer of Uranium Participation, told Reuters: "It would be our view that we are at or near the bottom of the price cycle."
Uranium Participation Corporation-New Issue
Thu Feb 28, 8:19 AM
TORONTO, ONTARIO -- Marketwire - Uranium Participation Corporation (TSX: U.TO) has today entered into an agreement with Cormark Securities Inc. on behalf of a syndicate of underwriters which consists of Cormark Securities Inc., CIBC World Markets Inc., Dundee Securities Corporation, Raymond James Ltd., Scotia Capital Inc., TD Securities Inc., and National Bank Financial Inc. pursuant to which the Underwriters have agreed to buy and sell to the public 6,375,000 common shares of the Company at a price of $10.20 per common share, representing an aggregate amount of issue of approximately $65.0 million. Closing is expected on or about March 19, 2008 and is subject to regulatory approval including that of the Toronto Stock Exchange.
The Underwriters also have an option to purchase up to an additional 956,250 common shares at the issue price to cover over-allotments for a period of 30 days after the date of Closing.
The net proceeds of the Offering will be used to fund the purchase of 900,000 lbs of U3O8.
http://ca.news.finance.yahoo.com/s/28022008/28/...tion-new-issue.html