Denison Mines, Cosa Resources Form Uranium-Focused JV in Saskatchewan

Dow Jones11-27

By Adriano Marchese

Denison Mines has formed three joint ventures with Cosa Resources for three uranium properties in Saskatchewan.

The Canadian uranium producer said Wednesday that Cosa will acquire 70% interest in Denison's Murphy Lake North, Darby, and Packrat properties in the Athabasca Basin region of the province.

Denison in exchange will receive 14.2 million Cosa shares, about 2.3 million Canadian dollars ($1.6 million) in deferred equity consideration and a commitment to spend C$6.5 million in exploration expenditures at the properties.

The agreement will see Denison become Cosa's largest shareholder while also retaining a minimum of 30% direct interest in the properties.

Write to Adriano Marchese at adriano.marchese@wsj.com

(END) Dow Jones Newswires

November 27, 2024 07:18 ET (12:18 GMT)

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