January 25, 2010 / 2:10 PM / 8 years ago

CORRECTED - UPDATE 1-Denison announces 2010 sales, earnings outlook

(Corrects spelling of Denison in headline)

* Plans to sell 1.8 million pounds of uranium in 2010

* Expects to post net loss of $18.5 mln in 2010 (All figures in U.S. dollars, unless noted)

TORONTO, Jan 25 (Reuters) - Denison Mines Corp (DML.TO) said on Monday it expects to sell 1.8 million pounds of uranium in 2010 and generate positive cash flow from operations, despite a weak uranium price environment.

The Canadian miner produced 1.4 million pounds of uranium in 2009, while it sold 1.1 million pounds at an average realized price of $51.17 per pound.

The company also said it intends to remain debt-free with cash balances of just under $20 million, as of Dec. 31, 2010.

However, the company expects to post a net loss of $18.5 million, or 5 cents a share in 2010, after providing for depletion, depreciation and amortization. (Reporting by Euan Rocha; Editing by Derek Caney)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below