Denison Mines Advances Phoenix Construction and Reports Strong Q2 Gains

The construction push at the Wheeler River property has intensified throughout the summer. By late July, crews had finished nearly all civil subgrade work for the process plant and wellfield areas, supported by a newly commissioned batch plant and expanded on-site camp facilities capable of housing 400 workers. The company plans to maintain this momentum through a second shift, enabling near 24-hour operations to meet critical first-year milestones.

Financial stability for these capital-intensive activities has been bolstered by strategic sales from the company's uranium stockpile. During the second quarter of 2026, Denison sold 750,000 pounds of U3O8 at an average price of $122.16 per pound. This move generated $91.6 million in gross proceeds and realized a 233% gain over the original 2021 acquisition cost. Looking ahead, the company has committed 600,000 pounds for delivery through mid-2027 to ensure continued funding for the Phoenix development.