Denison Mines adds former OPG CEO to board

TORONTO - Denison Mines Corp. (TSX: DML) (NYSE American: DNN), a uranium mining and development company, announced the appointment of Ken Hartwick to its Board of Directors, effective last Wednesday, following the retirement of long-serving director Brian Edgar. Hartwick, who brings over four decades of experience in finance and energy, previously led Ontario Power Generation (OPG) as its CEO. Alongside Hartwick, Jinsu Baik has also been appointed to the Board, replacing Jong Ho Hong as the nominee of Korea Hydro Nuclear Power (KHNP). The appointments come as Denison demonstrates strong financial discipline, maintaining more cash than debt on its balance sheet and achieving impressive revenue growth of 73% over the last twelve months, according to InvestingPro data.

Jennifer Traub, Chair of the Board, expressed confidence that the new appointees would contribute significantly to the company’s growth, particularly in the execution of the Phoenix project and the marketing of future uranium production. Hartwick is noted for his leadership at OPG, particularly in advancing clean energy initiatives and small modular reactor deployment. Baik, with a background in nuclear engineering, brings extensive industry expertise from his tenure at KHNP.

Denison is principally engaged in uranium exploration and development in the Athabasca Basin region of northern Saskatchewan, Canada. The company is focused on its flagship Wheeler River Uranium Project, which is the largest undeveloped uranium project in the area. Denison has been involved in uranium mining and development since 1954 and holds interests in several joint ventures and uranium deposits in the region. InvestingPro analysis suggests the stock is currently undervalued, with a healthy liquidity position reflected in a current ratio of 1.78. While the stock has shown significant volatility, it has delivered strong returns over the past five years. For detailed financial analysis and additional insights, investors can access more than 10 exclusive ProTips and comprehensive metrics through InvestingPro.

The company’s strategic relationship with KHNP Canada, a subsidiary of KHNP, which holds approximately 6.5% of Denison’s shares, includes collaborative business agreements and board representation rights.

This announcement comes on the heels of significant milestones achieved in 2024, including the submission of federal licensing documents and the acceptance of the project’s Environmental Impact Statement by relevant authorities for the planned Phoenix In-Situ Recovery (ISR) operation.

The information in this article is based on a press release statement from Denison Mines Corp.

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