Denison breaks ground on one of Canada’s largest uranium projects

By Trevor Abes – Yahoo Finance

Denison Mines (TSX:DML; NYSE American:DNN) has wrapped up initial site prep at its Phoenix uranium operation in Saskatchewan, advancing directly into primary construction. The build-out kicked off with the installation of a phase-one perimeter freeze wall.

Situated within the Athabasca Basin, Phoenix is part of the company’s 95%-owned Wheeler River asset, which stands among Saskatchewan’s premier undeveloped uranium deposits. A 2023 feasibility study highlights Phoenix’s robust economics, outlining a 10-year mine lifespan, roughly 60 million pounds of total U3O8 reserves and resources, and an 8% after-tax net present value reaching $1.56 billion.