The sales are part of “the company’s strategic plan to divest itself of oil and gas assets and focus more strongly on uranium mining and processing,” says Jake Fowler, Denison’s president and chief operating officer.
During the first nine months of this year, the company earned $5.3 million on revenue of $274.5 million compared with earnings of $3.5 million in the corresponding period last year.
For the third quarter, however, Denison lost $4 million. The loss was attributed to weak potash markets and reduced production from the company’s mining and oil and gas divisions.
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