Denison will receive the common share consideration (representing 19.95% ownership of Cosa post transaction) as upfront payment, plus a royalty on each of the three properties.
“Denison is pleased to collaborate with Cosa in a way that is mutually beneficial and enhances our exposure to the potential discovery of a meaningful uranium deposit on the properties and through Cosa’s existing uranium exploration portfolio,” Denison CEO David Cates said in a release.
“With Denison focused on executing on our core mining and development-stage projects, we believe Cosa is an excellent partner to advance exploration of the properties.”
Cosa currently holds several properties in the Athabasca Basin’s east and southeast, the largest of which is the 600-sq.-km Ursa project, just west of Denison’s flagship Wheeler River project.
The deal with Cosa adds to the joint venture Denison holds in a 90/10 split with JCU…
