TORONTO (miningweekly.com) – Canadian uranium-miner Denison Mines posted a second-quarter profit of $16,7-million, compared with an $18,2-million loss a year earlier.

Revenue more than doubled to $27,2-million, from $13,4-million in the second quarter of 2009.

Denison produces uranium and vanadium from a mine and a mill in the US, and is a minority partner in the McClean Lake joint venture, which operates uranium mines and a mill in the Athabasca basin of Saskatchewan.

The company sold 417 000 lb of uranium at an average price of $45,56/lb, compared with 128 000 lb at an average price of $52,44/lb a year ago.

It also sold 113 000 lb of vanadium, at an average price of $6,89/lb.

For the full year, the company expects to produce 1,6-million pounds of uranium and 2,8-million pounds of V2O5.

Shares in Denison rose 3,3% on Friday, to C$1,56 apiece by 15:59 in Toronto.

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