Denison cuts 2008 production forecast
14 August 2008
Denison Mines has cut its 2008 production forecast to 1.7-1.9 million pounds U3O8 (654-731 tU), down from its earlier prediction of 2.1-2.4 million pounds U3O8 (808-923 tU). The drop is due to a decrease in predicted ouput from the White Mesa mill in Utah, where output from the company's Colorado Plateau and Henry Mountains Complex mines is milled. Head grades at the Colorado mines - Sunday, Pandora, Topaz, West Sunday and Rim, at 0.18% U3O8, have been down on the 0.2% expected. The company now expects to produce 1.0-1.2 million pounds U3O8 (385-462 tU) at the mill in 2008, down from earlier projections of 1.4-1.7 million pounds U3O8 (538-654 tU). In addition to its US output, Denison also produces uranium through its share in the McClean Lake/Midwest projects in Canada and has exploration interests in Mongolia and Australia as well as the advanced stage Mutanga project in Zambia.