INVESTMENT IN ASSOCIATES (Tables)

12 Months Ended

Dec. 31, 2018

Investment In Associates Tables Abstract

Investments in associates

		At December 31		At December 31		At January 1
(in thousands)		2018		2017		2017
Investment in associates-by investee:
GoviEx	$	5,582	$	5,305	$	6,011
	$	5,582	$	5,305	$	6,011

Investment in GoviEx

(in thousands except share amounts)	Number of Common Shares
Balance-January 1, 2017	65,144,021	$	6,011
Share of equity loss	-		(1,015)
Dilution gain	-		309
Balance-December 31, 2017	65,144,021	$	5,305
Share of equity loss	-		(472)
Dilution gain	-		749
Balance-December 31, 2018	65,144,021	$	5,582

Consolidated financial information of GoviEx

		At December 31		At December 31
(in thousands of USD dollars)		2018		2017
Total current assets	$	4,800	$	6,978
Total non-current assets		32,432		24,530
Total current liabilities		(8,315)		(7,792)
Total non-current liabilities		-		(112)
Total net assets	$	28,917	$	23,604
		12 Months Ended		12 Months Ended
(in thousands of USD dollars)		December 31,2018		December 31,2017
Revenue	$	-	$	-
Net loss		(1,892)		(3,632)
Comprehensive loss	$	(1,892)	$	(3,632)

Reconciliation of GoviEx net assets to Denison carrying value

Reconciliation of GoviEx net assets to Denison investment carrying value:
Net assets of GoviEx – beginning of period - USD	$	23,604	$	20,694
Share issue proceeds		6,654		5,796
Contributed surplus change		74		-
Share-based payment reserve change		477		746
Net loss		(1,892)		(3,632)
Net assets of GoviEx – end of period - USD	$	28,917	$	23,604
Denison ownership interest		16.21%		18.72%
Denison share of net assets of GoviEx		4,687		4,419
Other adjustments		(283)		(216)
Investment in GoviEx – USD		4,404		4,203
At historical exchange rate		1.2675		1.2622
Investment in GoviEx	$	5,582	$	5,305