More bad news for the uranium market this week did not deter bargain hunters from returning to the sector in a big way on Friday chasing up shares across the board.
News that the massive Canadian mine has finally entered production and China's plans for 20 new reactors by 2020 are ahead of schedule lead to broad rally.
The fast-growing nuclear industry has never been open to China and will create a boom in Canada’s Athabasca Basin for uranium explorers.
Mineweb reports on Denison Mines' (TSE:DML,AMEX:DNN) downgrading 2011 uranium sales projections.
Denison Mines Corp. has secured permits needed to reopen three uranium mines near the Grand Canyon, CB Online is reporting.
The Toronto-based company already operates one uranium mine on federal land north of the iconic park. The company processes the ore extracted from the mine at a mill in Blanding, Utah.
Denison Mines reported 1,442,000 pounds of uranium oxide and 2,347,000 pounds of vanadium blackflake last year.
The company had originally forecast 1.6 million pounds U3O8 and 2.8 million pounds of vanadium production for 2010.
Production for the fourth-quarter totaled 234,000 pounds of uranium oxide and 391,000 pounds of vanadium.
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