Sprott's producer picks include Cameco and the much smaller Toronto-based Denison Mines Inc., which owns a 22.5% interest in the McClean Lake uranium plant and a 25% interest in the Midwest uranium project, both of which are Saskatchewan. The McClean Lake mill is under expansion to produce 12 million pounds of uranium per year, which will make it the second-largest uranium plant in the world.
Denison, which is also aggressively exploring landholdings in the Athabasca Basin, recently announced a merger with International Uranium (another Sprott pick) to form a uranium producer with a a market capitalization of $1 billion and proposed production of 5.5 million pounds by 2010. International Uranium owns a permitted operating mill in Utah; it is also developing some small mines in Colorado and holds uranium deposits in Mongolia and uranium exploration properties in the Athabasca Basin.
$13.95 (05/21/07)
