Denison Mines Corp. announced on November 27, 2024, the execution of an agreement with Cosa Resources Corp. to form three uranium exploration joint ventures in the eastern Athabasca Basin region of northern Saskatchewan. This collaboration aims to advance exploration on several properties.
Under the agreement, Cosa will acquire a 70% interest in Denison's 100%-owned Murphy Lake North, Darby, and Packrat properties. In exchange, Denison will receive approximately 14.2 million Cosa common shares, representing 19.95% of Cosa's outstanding shares, along with $2.25 million in deferred equity consideration.
Cosa has also committed to spending $6.5 million in exploration expenditures at Murphy Lake North and Darby. Denison will retain a 30% interest in each property and a 2% Net Smelter Royalty on Darby and Packrat, and a 0.5% NSR on Murphy Lake North, while Cosa becomes the project operator.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.