Denison Mines Corp. · TSX:DML
Denison Mines — Vancouver Resource Investment Conference 2020
16 slides from Denison Mines's conference presentation, January 2020
Slide 1: Uranium Development & Exploration
Uranium Development & Exploration The Athabasca Basin, Northern Saskatchewan January 2020 | Vancouver Resource Investment Conference
Slide 2: Cautionary Statements & References
Cautionary Statements & References This presentation and the information contained herein is designed to help you understand management’s current views, and may not be appropriate for other purposes. This presentation contains information relating to other companies and provincial infrastructure, an
Slide 3: The Uranium Investment Thesis: Fundamentals are improving, leading to a positive new uranium cycle
The Uranium Investment Thesis: Fundamentals are improving, leading to a positive new uranium cycle Annual Utility Uranium Requirements (1) Key Market Themes: (million pounds U3O8 - per UxC Q4'19) 1. Long-term contracts from the previous 250 uranium bull cycle have acted as a lifeline to high-cost mi
Slide 4: Diversified Athabasca Basin Asset Base with Superior Development Leverage
Diversified Athabasca Basin Asset Base with Superior Development Leverage Strategic Asset Portfolio: • 90% interest in Flagship Wheeler River project • Development stage project • Largest undeveloped uranium project in the infrastructure rich eastern Athabasca Basin • Environmental Assessment (“EA”)
Slide 5: ~305,000 Hectares of Prospective Exploration & Development Ground
~305,000 Hectares of Prospective Exploration & Development Ground Focused in the Infrastructure Rich Eastern Athabasca Basin Denison Land Position as of June 30, 2019 Orano Waterbury (Denison 66.5%) McClean Lake Mill (Denison 22.5%) Hook-Carter (Denison 80%) Cigar Lake Mine Rabbit Lake Mill McArthur
Slide 6: Flagship Wheeler River Development Project
Flagship Wheeler River Development Project(1) 90% Denison Owned (10% JCU): • Host to two high-grade uranium deposits • NI 43-101 compliant Pre-Feasibility Study (“PFS”) considers staged development plan • Phoenix estimated to potentially have lowest costs of any undeveloped uranium deposit • In-Situ
Slide 7: Wheeler River PFS: Potential to be one of the lowest all-in cost uranium mining operations
Wheeler River PFS: Potential to be one of the lowest all-in cost uranium mining operations Sample of Global Production Costs(1)(2) Planned and Producing Operations (with Mining Method) $50.00 All-in / Full Costs – USD$/lb U3O8 $45.00 $40.00 $35.00 $30.00 $25.00 US$22.82 $20.00 $15.00 $10.00 US$8.90
Slide 8: Wheeler River PFS: Staged development plan with combined 14-year mine life
Wheeler River PFS: Staged development plan with combined 14-year mine life(1) Phoenix: 10-year mine life Phoenix Gryphon 16 @ 6M lbs U3O8 per year 14 Gryphon: potential second Environmental operation. Additional Million Pounds U3O8 Per Annum 12 Assessment / production to be developed Permitting & to
Slide 9: Wheeler River PFS: Uranium price assumptions, commercial strategy, and sensitivities
Wheeler River PFS: Uranium price assumptions, commercial strategy, and sensitivities Base Case Price Assumptions Reflect Commercial Strategy: • Phoenix Operation: PFS Pre-Tax NPV8% (100% Basis) 3000 • Low all-in cost per lb U3O8 suggests contract “base-loading” not required 2500 • Uranium selling pr
Slide 10: Phoenix Deposit: Combining the world's lowest-cost uranium mining method with the highest-grade deposit
Phoenix Deposit: Combining the world’s lowest-cost uranium mining method with the world’s highest-grade undeveloped uranium deposit 10 ISR field testing at Wheeler River Phoenix Deposit, Summer 2019
Slide 11: ISR test well at Wheeler River Phoenix Deposit, Summer 2019
ISR test well at Wheeler River Phoenix Deposit, Summer 2019 11 11 CSW installed at Wheeler River Phoenix Deposit, Summer 2019
Slide 12: Phoenix Deposit: Combining the world's lowest-cost uranium mining method with the highest-grade deposit
Phoenix Deposit: Combining the world’s lowest-cost uranium mining method with the world’s highest-grade undeveloped uranium deposit 12 12 Installation of Commercial Scale Wells as part of ISR Field test work at Wheeler River Phoenix Deposit, Summer 2019
Slide 13: Phoenix Geology: Unique uranium deposit with exceptionally high grades
Phoenix Zone A Phoenix Deposit – Plan View Schematic Cross Section Phoenix Geology: Unique uranium deposit with exceptionally high grades Highlights(1): • Mineralization is situated at or immediately above the unconformity(“UC”) Athabasca Sandstone • Two distinct zones – Phoenix A + B • Approximatel
Slide 14: Phoenix Operation: Application of low-cost ISR mining method to high-grade Athabasca Basin
Phoenix Operation: Application of low-cost ISR mining method to high-grade Athabasca Basin ISR Mining Process(1): 1. Mining solution (also known as “lixiviant”) is pumped through a permeable orebody via injection well 2. Lixiviant dissolves the 4 uranium as it travels through the orebody 1 5 3. Uran
Slide 15: Phoenix Freeze Cap: Novel concept to contain mining solution
Phoenix Freeze Cap: Novel concept to contain mining solution, using established technology Artificial freeze cap replicates confining layer typically required for ISR mining operations(1) • Parallel cased holes drilled from surface and anchored into impermeable basement rock surrounding the Phoenix
Slide 16: Capital Structure & Corporate Information
Capital Structure & Corporate Information Market Summary (1) Management & Directors Exchanges TSX: DML, NYSE MKT: DNN • David Cates (President & CEO, Director) Shares Outstanding 590.2 M • Mac McDonald (VP Finance & CFO) Warrants 1.7 M • Dave Bronkhorst (VP Operations) Share Units 4.9 M • Tim Gabruc
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