Denison helps UEX buy JCU from OURD, to take 50%

Canadian uranium developer Denison Mines has announced that it will acquire 50% ownership of JCU (Canada) Exploration from UEX, when that company completes the acquisition of JCU from Overseas Uranium Resources Development (OURD). Denison will pay C$20.5-million in cash for the 50% of JCU, which holds a portfolio of uranium project joint venture (JV) interests in Canada, including a 10% interest in the Wheeler River uranium project, in Saskatchewan. Denison pointed out on Tuesday that UEX had entered into an amended purchase agreement with OURD, upping its offer for JCU from C$12.5-million to C$41-million.