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July 7, 2009 / Jeb

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.

dnnDenison 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.

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