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BRIEF-Denison executes agreement to increase ownership of Wheeler River Project up to 66 pct
January 10, 2017 / 11:57 AM / 8 months ago

BRIEF-Denison executes agreement to increase ownership of Wheeler River Project up to 66 pct

Jan 10 (Reuters) - Denison Mines Corp

* Denison executes agreement to increase ownership of Wheeler River Project up to 66%

* Denison Mines - JV parties agreed to allow one-time election by Cameco to fund 50% of its ordinary share of joint venture expenses in 2017 and 2018

* Denison Mines - Shortfall in Cameco’s contribution will be funded by Denison, in exchange for a transfer of a portion of Cameco’s interest in WRJV

* Denison’s share of joint venture expenses will be 75% in 2017 and 2018

* Denison Mines Corp - In connection with agreement, JV parties have also approved a CAD$12.5 million work program and budget for WRJV in 2017

* Denison Mines Corp - Denison expects that its ownership interest in Wheeler River Project will increase to approximately 66% by December 31, 2018

* Cameco and JCU’s share of joint venture expenses will be 15% and 10%, respectively in 2017 and 2018

* Denison Mines Corp - Denison, operator of WRJV, agreed to propose work program and budget for 2018 that will not exceed approximately CAD$15.6 million Source text for Eikon: Further company coverage:

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