Denison Mines CorpD
Denison Mines Corp (TSX: DML / NYSE American: DNN) is a Toronto-headquartered uranium developer whose flagship asset, Wheeler River's Phoenix in-situ recovery (ISR) project (Athabasca Basin, Saskatchewan; Denison effective 95% interest), received a Final Investment Decision on 24 Feb 2026 and a construction licence from the Canadian Nuclear Safety Commission in Feb 2026, with full-scale construction commencing Jul 2026 (over 20% of site civil work complete by end of Jul 2026) and first production targeted mid-2028. Separately, and NOT the basis for this record's stage classification (see script header for the judgment call), Denison holds a real, current, revenue-generating 22.5% interest in the McClean Lake Joint Venture (Orano Canada 77.5% / Denison 22.5%, Orano-operated) -- the McClean North deposit within that JV began production via SABRE mining in Jul 2025, and Denison sold 750,000 lbs U3O8 in Q2 2026 alone (from its combined MLJV share and physical uranium holdings) for $91.6M in gross proceeds. As of 30 Jun 2026 Denison held approximately 1.1 million lbs U3O8 in combined physical uranium investments and MLJV-share concentrate inventory. This MLJV interest is real but minority, non-controlling, and Orano-operated -- not Denison's own operated production the way Phoenix will be.
Lifecycle Milestones
Construction Milestones
3 of 5 reached- Feb 2026 · Canadian Nuclear Safety Commission approved the Environmental Assessment and issued a construction licence for Phoenix in Feb 2026 (the Province of Saskatchewan had separately granted provincial EA approval in Jul 2025). Full-date precision on the federal approval, primary-company-announcement sourced. · Source
- Feb 2026 · Denison announced its Final Investment Decision for Phoenix on 24 Feb 2026, with plans to start construction in Mar 2026. Full-date precision, primary-company-announcement sourced. · Source
- Mar 2026 · Site preparation and early-works construction for Phoenix commenced Mar 2026; full-scale construction commenced Jul 2026, with over 20% of overall site civil work complete by end of Jul 2026. Month precision on the March start; not gate-required at stage=CONSTRUCTION (only PERMIT_GRANTED and CONSTRUCTION_DECISION are, per src/lib/lifecycle-gates.ts) but written anyway as a real, dated, additional milestone. · Source
- Not yet reached
- Not yet reached
Milestones are recorded only from a company's own dated disclosure. A milestone with no date shown is one we can confirm was reached but for which no date was disclosed — we don't estimate one. "Not yet reached" means exactly that, not that a date is missing. An "Expected" line likewise only ever reflects the company's own guidance (e.g. a study or permit decision targeted for a stated quarter) — most not-yet-reached milestones have none, and that absence means no such guidance has been disclosed, not that one is overdue.
A relative ranking of how closely this company matches the profile of juniors that have actually been acquired — not a probability, and not a reason to buy. Acquisitions are rare: only a few dozen significant deals happen a year across a universe of thousands of juniors, so even a high score here describes a long shot. The strongest signal the underlying research identifies — whether a major already holds a JV, earn-in, or 5–19.9% strategic stake — isn't tracked yet and is absent from this score.
Your Rankings
Management Team
Chair of the Board of Denison Mines Corp. Partner at Cassels Brock & Blackwell LLP.
President and Chief Executive Officer of Denison Mines Corp.
Chief Financial Officer of Denison Mines Corp., appointed December 2023.
Insiders, Investors & Smart Money
Notable shareholders and insiders whose involvement is worth knowing about, plus what we're seeing from institutional/large-investor activity.
No smart-money tracking (institutional/large-investor activity) for this miner yet — this is a planned feature, not live data.
No notable insiders tracked for this miner yet.
Reports, Presentations & Documents
Phoenix's June 2023 Feasibility Study (all figures 100%-basis unless noted, stated in CAD per the release's own currency disclaimer): pre-tax NPV8% C$2.34B, after-tax NPV8% C$1.56B, pre-tax IRR 105.9%, after-tax IRR 90.0%, 10-year mine life, C$419.4M initial capital, 56.7 million lbs U3O8 proven+probable reserves (100% project basis). dcfNpvUsd/initialCapexUsd below are Denison's effective 95% attributable share, converted to USD at 0.7223 CAD/USD; irrPct is the project-level (scale-invariant) rate, not ownership-scaled. ouncesFound is the 100%-basis project reserve figure (not scaled to Denison's 95% share, since no company-published 'Denison's own share of reserves' figure was found the way Cameco explicitly states its own share for McArthur River, Task #617) -- Denison's 95% effective interest is stated separately in the citation note rather than silently applied to the reserve tonnage.