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Denison Mines Corp. (TSX: DML.TO) Leaving Shareholders in Limbo with Delays to Uranium Project in Zambia

Posted on June 22, 2012 by OTC Equity

After hitting a high of 1.95 last month shares of Denison Mines Corp (TSX: DML.TO) have been on a steady decline, sinking to a low of 1.39 on Friday with little hope of an immediate recovery. At their current level of 1.40 shares of DML.TO are below their 50-day moving average of 1.60 as well as their 200-day moving average of 1.54 and while there have been reports suggesting that the price of uranium will pick up in the near future those reports have done little to stabilize Denison's descent. On Thursday it was reported that DML.TO would only start developing its planned uranium mine in Zambia when prices for uranium rose to levels above $65 per lb. Given the fact that spot uranium prices remain around the $51 level and contract prices are below $60 shareholders of DML.TO could still be in for a long wait. Of course DML.TO doesn't just have the luxury of waiting for th...

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