Denison Mines Signals Construction Readiness for Phoenix ISR Uranium Project
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The latest announcement is out from Denison Mines ( (TSE:DML) ).
Denison Mines says it is ready to make a final investment decision and begin construction of its flagship Phoenix in-situ recovery uranium mine at the Wheeler River property, targeting a two-year build and first production by mid-2028, pending final regulatory approvals expected in early 2026. The company reports substantial progress in 2025 on federal and provincial permitting, detailed engineering and procurement, with key long-lead electrical infrastructure on schedule and most project engineering complete, while updating its initial capital cost estimate and affirming that Phoenix could become Canada’s first new large-scale uranium mine since Cigar Lake, timed to capture rising uranium demand and reinforce its strategic position in the nuclear fuel supply chain.
The most recent analyst rating on (TSE:DML) stock is a Hold with a C$3.50 price target. To see the full list of analyst forecasts on Denison Mines stock, see the TSE:DML Stock Forecast page.
Spark’s Take on TSE:DML Stock
According to Spark, TipRanks’ AI Analyst, TSE:DML is a Neutral.
Denison Mines’ overall stock score is primarily impacted by its financial performance and valuation challenges. The company struggles with profitability and cash flow issues, which are reflected in its negative P/E ratio. Technical analysis shows some short-term positive momentum, but bearish signals persist.
To see Spark’s full report on TSE:DML stock, click here.
More about Denison Mines
Denison Mines Corp. is a Canadian uranium mining and development company listed on the TSX and NYSE American, focused on advancing its flagship Wheeler River property in Saskatchewan’s Athabasca Basin. The company is developing the Phoenix in-situ recovery (ISR) uranium project, positioning itself as a future low-cost producer aimed at supplying growing global nuclear energy demand while supporting Canada’s ambitions for sustainable, large-scale resource projects.
Average Trading Volume: 3,833,670
Technical Sentiment Signal: Buy
Current Market Cap: C$3.27B
For detailed information about DML stock, go to TipRanks’ Stock Analysis page.
