Denison posts loss in first quarter (May 11, 2007)

Higher operating costs left Denison Mines (DML-T, DNN-X) with a loss in the first quarter of 2007, despite high uranium prices.

Denison lost $5.1 million on revenues of $11.7 million in the quarter, compared with a loss of $3.7 millino on revenues of $666,000 in the first quarter of 2006. The recent quarter’s uranium sales were $8.3 million, at an average price of US$62.27 per lb. U₃O₈.

At quarter-end Denison had $105 million in cash and $44 million in other current assets, with $22 million in short-term liabilities.