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INVESTMENT IN ASSOCIATE (Tables)

12 Months Ended

Dec. 31, 2019

Investment In Associate Tables Abstract

Investments in associate

				At December 31		At December 31
(in thousands)				2019		2018

Investment in associate-by investee:
GoviEx Uranium Inc (“GoviEx”)			$	-	$	5,582
			$	-	$	5,582

Investment in GoviEx continuity

(in thousands except share amounts)				Number of Common Shares

Balance-January 1, 2018				65,144,021	$	5,305
Equity share of net loss				-		(472)
Dilution gain				-		749
Balance-December 31, 2018				65,144,021	$	5,582

Equity share of net loss				-		(678)
Dilution gain				-		252
Deconsolidation of investment in GoviEx				-		(5,156)
Balance-December 31, 2019				65,144,021	$	-

Consolidated financial information of GoviEx

				At September 30		At December 31
(in thousands of USD dollars)				2019		2018

Total current assets			$	4,559	$	4,800
Total non-current assets				32,418		32,432
Total current liabilities				(8,222)		(8,315)
Total net assets			$	28,755	$	28,917


				Nine Months Ended		Twelve Months Ended
(in thousands of USD dollars)				September 30, 2019		December 31, 2018

Revenue			$	-	$	-
Net loss				(3,202)		(1,892)
Comprehensive loss				(3,202)		(1,892)

Reconciliation of GoviEx net assets to Denison carrying value


(in thousands)				At September 30, 2019		At December 31, 2018
Reconciliation of GoviEx net assets to Denison investment carrying value:
Net assets of GoviEx – beginning of period - USD			$	28,917	$	23,604
Share issue proceeds				2,474		6,654
Contributed surplus change				86		74
Share-based payment reserve change				480		477
Deficit changes
Net loss				(3,202)		(1,892)
Net assets of GoviEx – end of period – USD			$	28,755	$	28,917
Denison ownership interest				15.39%		16.21%
Denison share of net assets of GoviEx				4,425		4,687
Other adjustments				(343)		(283)
Investment in GoviEx – USD				4,082		4,404
At historical exchange rate				1.2631		1.2675
Investment in GoviEx – end of period - CAD			$	5,156	$	5,582