2011 Financial Results Released by Denison Mines

Denison Mines Corp. (TSX:DML,AMEX:DNN) announced results from the fourth quarter of 2011 as well as for 2011 as a whole.

As quoted in the press release:

For the year ended December 31, 2011, the Company sold 1,802,000 pounds of V₂O₅ equivalent at an average price of $6.41 per pound. Total vanadium sales revenue was $11,551,000. During the year ended December 31, 2010, the Company sold 2,407,000 pounds of V₂O₅ equivalent at an average price of $7.04 per pound. Total vanadium sales revenue was $16,934,000.

Inventory available for sale was 196,000 pounds U₃O₈ at December 31, 2011. Based on spot prices at December 31, 2011, this inventory had a value of $10,136,000. The Company had no vanadium in inventory available for sale at December 31, 2011.

Click here to read the full Denison Mines Corp. (TSX:DML,AMEX:DNN) press release.