South Korea Purchases Denison Mines, Top Uranium Producer
A few weeks ago I mentioned that one of my recommendations Denison Mines was getting a lot of institutional investments. Yesterday Korea Electric Power announced that they were taking a major position in DNN. Their rationale is that they wanted to buy great assets before the economy picks up. I believe the South Koreans got a steal on their purchase of Denison as their uranium use is going up by 50% as well as many other industrial Asian nations.
Also famous precious metals entrepreneur and Former Chairman Lukas Lundin made a huge investment at these bargain prices.
I am on the side of Korea Electric Power and Lukas Lundin. Buying DNN at these levels with their assets, production and exploration will give investors a chance to make huge gains once the global economy gets its footing.
Denison is making a series of higher highs and rounded bottoms. Notice the cross of the 50 and 200 day. This stock is trading way below book value. I believe this company is bottoming here and could lead to huge gains. Be patient.