Denison Position Helped by Rio Tinto’s Uranium Gamble

Bloomberg reported Denison Mines (TSX:DML,NYSE:DNN) is in a better position now that Rio Tinto (NYSE:RIO,ASX:RIO) has begun extracting uranium in Canada.

As quoted in the market news:

Denison, which owns deposits in Saskatchewan’s Athabasca Basin, rose 29 percent last week after the sale of its U.S. unit sparked speculation it was positioning itself to be acquired. The decision came three months after Rio secured a toehold in the area by outbidding Cameco Corp. (CCO), the world’s largest uranium producer, with a $642 million offer for Hathor Exploration Ltd.

Click here to read the full Bloomberg report.