Information
TORONTO, Feb. 24, 2026 /CNW/ - Denison Mines Corp. ("Denison" or the "Company") (TSX:DML) (NYSE:DNN) is pleased to announce that its Board of Directors has made a Final Investment Decision ("FID")
Original sourceAI Summary
Denison Mines Corp. has made a Final Investment Decision to commence construction of the Phoenix In-Situ Recovery uranium mine in March 2026, aiming for first production by mid-2028. This decision marks a significant milestone for Denison and the broader Canadian uranium sector, potentially positioning the company as a key supplier in the market over the next few years.
Sentiment Rationale
The approval of the Phoenix mine is a significant positive catalyst and aligns with ongoing uranium supply trends, which have historically benefited similar companies upon project development announcements.
Trading Thesis
Bullish on DNN as construction begins; potential long-term gains by 2028.
Market-Moving
- Phoenix mine construction June 2026 may boost DNN stock.
- First production by mid-2028 could enhance revenue outlook.
- Broader uranium market supply constraints may favor DNN's pricing power.
- Long-lead material procurement completion suggests smooth construction progress.
Key Facts
- Denison made a Final Investment Decision for the Phoenix ISR uranium mine.
- Construction at Phoenix is set to begin in March 2026.
- First production expected by mid-2028, enhancing Denison's uranium supply position.
- Phoenix will be the first large-scale Canadian uranium mine in two decades.
- Denison's efforts included securing approvals and financing for the project.
Companies Mentioned
- JCU (Canada) Exploration Company Limited (N/A): JCU holds a 10% interest in the Wheeler River joint venture.
Corporate Developments
This news fits into the 'Corporate Developments' category as it involves Denison's strategic decision to move forward with a major project that impacts their operational capabilities and market position in the uranium sector.