Sinosteel Corporation denies purchasing the stock of Denison Mines Corp

Friday, 19 June 2009 19:08

On June 15th, 2009, South China Morning Post in Hong Kong, reported that Sinosteel Corporation was planning to acquire 19.9% share of Denison Mines Corp. (Denison). The quoted price is higher than that given by Korea Electric Power Corp. However, Sinosteel has denied the acquisition plan recently. Their top management declared that they had been aware of the movements of companies from Korea, Japan and Russia in the acquisition of Denison. Sinosteel had also done some research on Denison’s asset condition, but no official assessment had been preceded yet, not to mention acquisition bid.
Source: 21cbh.com

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