Of all the publicly traded companies with exposure to uranium, my favorite is Denison Mines (DNN). It has put itself in solid position to generate some serious growth when the price of uranium resumes its upward trajectory.

Before we get into it, Denison isn't my favorite just because it's trading below $2.00 a share and is assumed to have great upward potential for that reason only. After all, there are many companies trading at these levels because that's all they're worth.

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Denison is my favorite because of the number of properties it owns with a solid uranium base included with them in aggregate, which when the demand for uranium pushes the price upwards, it will strongly participate in that trend.

I do believe Denison is going to soar again, and its low price in that regard is attractive, but it's the growing demand for nuclear energy that is driving the narrative, and that will be what will bring the company success going forward, as it will all companies exposed to uranium.

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Denison's Projects and Interests

With Denison consistently entering into new deals, it's hard to keep up with the large number of projects the company is engaged in, but we'll look at what it is involved with as best as can be followed at this time.

Athabasca Basin is among one of the richest uranium deposits in the world, and Denison has about 50 projects going on in the Basin, which covers about 658,000 hectares in Saskatchewan, Canada. Other properties include a 60 percent interest in the Wheeler River project which includes the Phoenix deposits; a 25.17 percent interest in the Midwest uranium project; a 22.50 percent interest the McClean Lake deposits, which includes a uranium processing mill.

Beyond North America, Denison owns all of the conventional heap leach Mutanga project, in Zambia, and 85 percent of the in-situ recovery projects held by the Gurvan Saihan Joint Venture in Mongolia.

To expand its footprint in the Athabasca Basin, Denison acquired JNR Resources Inc. and Fission Energy Corp. The Fission deal also brought the two joint ventures in Nambia, as well as properties in Nunavut and Quebec. Denison acquired all the outstanding common shares of Fission, with Fission spinning out some of its assets into a new exploration company named Fission Uranium Corp. That deal closed in April, while the JNR Resources deal closed in January, 2013.

Denison is selling all of its U.S. assets to Energy Fuels.

What's important isn't the number of projects held by Denison, but that they represent different levels of progress and development, which bodes well for the future of Denison because it'll bring new product online over time, which should offer stability for many years into the future.

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Quality of Ore

The grade of the ore that uranium is extracted from is important because the less uranium in the ore, the more it costs to process it.

In that regard, Denison is positioned strongly because of its exposure to Athabasca Basin, which has the richest ore deposits in the world. At this time, Canada has the best uranium ore, and the only country with a lot of ore above the 1 percent range. Approximately 20 percent of Canada's uranium deposits are in that category.

Other major uranium deposits, for example, in countries like Australia and Kazakhstand, have a poorer grade of ore, with 90 percent of the uranium grade in Australia having less than 0.6 percent, and the majority of ore in Kazakhstan less than 1 percent.

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This means those with uranium exposure in Canada will be able to process it at a much lower cost, giving them a strong moat against their competitors. This is a solid advantage for Denison.