Denison Mines Corp (DML-T)

The question asked for his preference between Cameco and Denison. Uranium is up and momentum is with them but he wouldn't buy them. New nuclear projects are ten years away for development. Denison has a new mine in Saskatchewan but it is a 10 year project. Cameco trades at 30 times revenue.

An area he's not involved with, mainly because it involves too much predicting. Earnings for the sector can be a challenge, ROIC isn't strong. A lot of expectation built into recent action.

He sold it when uranium broke $100/lb and shares surged. Uranium prices are now taking a breather and he hopes to get back into this in Q2. Are well-financed. They own $275 million of uranium they bought on the open market.

He bought this three years ago when investors hated uranium, but he has since made his money back. DML is trying proven recovery methods but at a deeper depth that could work. If it does, shares go higher, but fears this method could be challenging on a commercial scale. Swo, he feels of two minds about DML.  DML is the most important junior in the Athabasca basin. Their edge is operating a permitted mill there. 

Unique because using in situ recovery methods for uranium using chemicals and water. Technology is well proven globally, and really brings down the capital and operating costs. Very strong economics. Newest project is almost fully financed. Prime takeout candidate. No dividend.

Small-cap Canadian name in uranium. Risk is that they're trying technology in a way that hasn't been tried before. If it works, they'll do extremely well; if not, they'll have challenges. Bull market for uranium. Expects it to do well for a year. He's long this name.

Beyond a 2017 spike, it's been range-bound. Wouldn't buy it. Sell.

Uranium developer. Companies don’t make money at these prices for Uranium. They should go up, but demand is weak. It is not the best environment to invest in a junior at this time.

If you're patient, this is worth owning. Quality CEO and has strong financial backing in association with Lundin Mining. But you must endure a lot of volatility.

His play in uranium is GBP (?), which has done very well. They do training for nuclear reactors as well as other areas, and it still has a lot of upside. The view on uranium is so mixed.