Impact: Positive
UEX Corp. announced that it has closed the previously announced JCU transaction and executed its agreement with Denison Mines to sell a 50% of its stake in JCU. Per the terms of the agreements, Denison lent $41M to UEX to fund the JCU acquisition, and half the loan was retired upon the transfer of 50% of JCU to Denison. We continue to believe that this is a transformative deal for UEX, which has grown UEX’s uranium resources by ~48% and has resulted in UEX becoming the 3rd largest junior resource holder in the Basin.
