DNN forming a bull flag, good entry to a long term play.
Denison Mines is a uranium exploration & development company located in Toronto, Canada. They own 90% of the Wheeler River Project, which is the largest undeveloped uranium project in the eastern portion of the Athabasca Basin region in northern Saskatchewan, Canada.
They just raised $86.3m to buy physical uranium as an investment, which is tightening up the already short supply of uranium and further driving up the spot price. And recently, in a press release, Denison announced it was being added to the SP/TSX Composite Index and the addition took place this Monday (3/21), which means there will be some bigger players stepping in now.
I think this play has a lot of long term potential. A fast growing supply deficit of uranium and the Green New deal, I think this could play out nicely short term but I'm holding long term.
This is not financial advice
They just raised $86.3m to buy physical uranium as an investment, which is tightening up the already short supply of uranium and further driving up the spot price. And recently, in a press release, Denison announced it was being added to the SP/TSX Composite Index and the addition took place this Monday (3/21), which means there will be some bigger players stepping in now.
I think this play has a lot of long term potential. A fast growing supply deficit of uranium and the Green New deal, I think this could play out nicely short term but I'm holding long term.
This is not financial advice
Comment:
BTW the forecast line is not my target, just a visual lol