Denison Mines reports first quarter 2011 net loss of $7.1 million
TORONTO - Denison Mines Corp. (TSX:DML) says it had a net loss of US$7.1 million dollars, or two-cents per share, for the first quarter.
The company, which reports in U.S. dollars, lost the same amount in the first quarter of 2010, but is a narrowing of a loss of $9.4 million dollars in the fourth quarter of 2010.
Revenue for the Toronto-based uranium producer was $26.8 million for the three months ended March 31, 2011, compared to revenue of $21.9 million in the year-ago period.
Denison is engaged in uranium exploration on properties in Canada, the U.S., Mongolia and Zambia, and it saw its first quarter exploration costs nearly double to $3.18 million from the $1.6 million in the comparable period a year in 2010.
Most of Denison's exploration costs during the 2011 period were spent in the Athabasca Basin region of northern Saskatchewan.
Shares in Canadian uranium mining companies, including Denison, plunged on the Toronto stock market in March as ongoing troubles at the earthquake and tsunami-damaged Japanese nuclear power plant stoked fears over the future of the global nuclear industry.
The company, which reports in U.S. dollars, lost the same amount in the first quarter of 2010, but is a narrowing of a loss of $9.4 million dollars in the fourth quarter of 2010.
Revenue for the Toronto-based uranium producer was $26.8 million for the three months ended March 31, 2011, compared to revenue of $21.9 million in the year-ago period.
Denison is engaged in uranium exploration on properties in Canada, the U.S., Mongolia and Zambia, and it saw its first quarter exploration costs nearly double to $3.18 million from the $1.6 million in the comparable period a year in 2010.
Most of Denison's exploration costs during the 2011 period were spent in the Athabasca Basin region of northern Saskatchewan.
Shares in Canadian uranium mining companies, including Denison, plunged on the Toronto stock market in March as ongoing troubles at the earthquake and tsunami-damaged Japanese nuclear power plant stoked fears over the future of the global nuclear industry.
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