Denison Mines widens loss during fourth-quarter, reports lower revenues

TORONTO - Uranium company Denison Mines Ltd. has reported a much wider net loss during the fourth quarter compared to a year earlier.

The $65.6 million loss amounted to 17 cents per share, compared to a loss of $9.5 million, or three cents per share, during the fourth quarter of 2010.

Revenues for the period were $36 million, versus $39.2 million.

For the year, Toronto-based Denison (TSX:DML) produced more than one million pounds of uranium oxide and nearly 1.29 million pounds of vanadium blackflake.

Denison has assets in the United States, Canada, Zambia and Mongolia.

For this year, uranium sales are expected to be about 1.6 million pounds, of which 810,000 pounds are expected to be sold into long-term contracts. Vanadium sales are forecast to reach 500,000 pounds in 2012.

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