Evidence presented in Denison hearing

The presentation of evidence in the arbitration hearing between Denison Mines (TSE) and Ontario Hydro ended in early November.

Each side will summarize the evidence and complete presentation of arguments on Dec. 10. Timing of a decision by the panel is not known. The dispute resulted from Hydro’s termination of a cost-plus uranium supply contract between Denison and the utility.

The dispute focuses on whether the depreciation of the capital assets in Elliot Lake and other disputed costs should have been used in price determinations for 1991 and 1992 deliveries.

Denison’s position is that the supply contract provides for the inclusion of these items. The company is seeking more than $400 million from Ontario Hydro.