September 5, 2018 / 12:59 PM / 2 months ago

BUZZ-Denison Mines: Up on move to raise stake in Wheeler project

** Denison Mines’ U.S.-listed shares up ~4 pct premarket on company’s move to raise its stake in Wheeler River uranium project in a ~C$16 mln ($12 mln) deal

** Denison to buy Cameco’s minority interest (expected to be ~24 pct by end-2018) in the project, increasing its stake to 90 pct

** JCU (Canada) Exploration, a 10 pct holder in the project, has rights of first refusal on Cameco’s stake sale

** Denison to issue Cameco 24.62 mln common shares (4.4 pct of Denison’s current outstanding shares) at C$0.65/share

** U.S. shares of Denison Mines down 6.6 pct YTD (Reporting by Savio D’Souza)

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