In a word, in Test Areas 1 & 2, hydraulic responses were observed where hydraulic responses were expected and no hydraulic responses were observed where hydraulic responses were unwanted. That’ll give the naysayers of ISR at Phoenix something to chew on.
Next Step: Commercial Scale Well at Test Area 1.
We believe Phoenix will prove a game-changer, with the potential to soon demonstrate that EBITDA may be generated by select operators in a world of sustained low spot and LT contract prices.
Denison Mines has a current weighting of 3.4% in the NuChem International Catalyst Fund.
We boosted our stake in Denison Mines this morning by 25% following an updated analysis in which the company achieved a maximum in-house Composite Rating of 5. Denison Mines excelled in the following categories: Net Profit Margin (Phoenix), Absolute Cost Structure (Phoenix), True Value Discount, and Market Cap Growth. Our Target, however, has been lowered by 20%, as our updated calculations implied a True All-In Cost (TAIC) that was higher than expected for Phoenix, while Net Profit Margin and Absolute Cost Structure for Gryphon were average.
MTQ Scores & Composite Ratings — Study Group Comparison