Welcome to our dedicated page for Denison Mines news (Ticker: DNN), a resource for investors and traders seeking the latest updates and insights on Denison Mines stock.
Denison Mines Corp. (NYSE American: DNN; TSX: DML) is a leading uranium exploration and development company headquartered in Toronto, Canada. Operating primarily in the Athabasca Basin region of northern Saskatchewan, Denison's key focus is on discovering and developing high-grade uranium deposits. Their flagship project, Wheeler River, is the largest undeveloped uranium project in the eastern part of the Athabasca Basin and includes the high-grade Phoenix and Gryphon deposits. Denison holds a 95% effective interest in this project.
Denison also has substantial ownership interests in several other significant uranium projects. This includes a 22.5% interest in the McClean Lake Joint Venture, which operates the McClean Lake uranium mill, and various uranium deposits. The McClean Lake mill is currently processing ore from the Cigar Lake mine under a toll milling agreement. Moreover, Denison holds a 25.17% interest in the Midwest Main and Midwest A deposits and a 69.35% interest in the Tthe Heldeth Túé (THT) and Huskie deposits on the Waterbury Lake property.
In addition to these assets, Denison is involved in several other projects through its 50% ownership of JCU (Canada) Exploration Company, Limited. These projects include the Millennium project (JCU, 30.099%), the Kiggavik project (JCU, 33.8118%), and the Christie Lake project (JCU, 34.4508%). Denison's exploration portfolio covers approximately 385,000 hectares in the Athabasca Basin, making it a dominant player in this uranium-rich region.
Denison is advancing its flagship Wheeler River project with significant strides, including the completion of a feasibility study for the Phoenix deposit as an ISR mining operation and an updated pre-feasibility study for the Gryphon deposit as a conventional underground mining operation. Both deposits are poised to be among the lowest-cost uranium mining operations globally. The company has also made substantial progress in the permitting process for the Phoenix ISR operation, with a draft Environmental Impact Statement submitted and ongoing regulatory reviews.
Denison Mines is committed to sustainable development, as evidenced by its Shared Prosperity Agreement with English River First Nation and its Sustainable Communities Investment Agreement with Northern Saskatchewan municipalities. These agreements aim to support community-led initiatives and ensure long-term, positive impacts beyond the lifespan of their mining projects.
With a strong financial position, strategic partnerships, and a diversified portfolio of high-grade uranium assets, Denison Mines Corp. is well-positioned to play a crucial role in the global nuclear energy sector, supporting the increasing demand for clean, reliable energy sources.
Denison Mines announces participation in Foremost Clean Energy's private placement, investing $1,822,800 for 607,600 units at $3.00 per unit. Following the $10.5M offering completion, Denison now owns 1,977,410 Foremost shares (19.13%) and 607,600 warrants (13.09%). This investment supports Foremost's exploration of Saskatchewan uranium properties under a previously established option agreement, where Foremost can earn up to 70% interest in 10 Denison properties.
The investment follows an earlier agreement where Denison received 1,369,810 Foremost shares as partial consideration for Foremost's acquisition of an initial 20% interest in Denison's uranium exploration properties.Denison Mines reported Q3 2024 results highlighting progress on its Phoenix In-Situ Recovery uranium mining operation. Engineering completion reached 45%, with $21 million in milestone payments or commitments made for initial project capex. The company reports near completion of the Federal review process for the Wheeler River Environmental Impact Statement. Key developments include signing benefit agreements with Kineepik Métis Local #9 and Pinehouse Lake, and an option agreement with Foremost Clean Energy for 10 non-core uranium exploration properties worth up to $30 million in combined value.
Denison Mines Corp. (TSX: DML) (NYSE American: DNN) has filed an early warning report regarding its holdings in Foremost Clean Energy (NASDAQ: FMST) (CSE: FAT). On October 4, 2024, Denison acquired 1,369,810 common shares of Foremost, representing approximately 19.95% of Foremost's outstanding shares. This acquisition was part of an option agreement dated September 23, 2024, allowing Foremost to acquire up to 70% of Denison's interest in 10 uranium exploration properties over three phases.
The agreement includes cash or stock payments to Denison and Foremost-funded exploration expenditures. As part of the deal, David Cates, Denison's President and CEO, was appointed to Foremost's board, and Andy Yackulic, Denison's VP of Exploration, became a Technical Advisor to Foremost. An investor rights agreement was also executed, giving Denison pre-emptive rights to maintain its ownership percentage in Foremost.
Denison Mines Corp. (TSX: DML) (NYSE American: DNN) has signed an option agreement with Foremost Clean Energy (NASDAQ: FMST) granting Foremost the option to acquire up to 70% of Denison's interest in 10 uranium exploration properties. The transaction involves a combination of direct payments and exploration funding totaling up to $30 million.
Key highlights include:
- Upfront payment in Foremost common shares (~19.95% ownership)
- Cash or share milestone payments
- Up to $20 million in project exploration expenditures
- Denison retains direct interests and becomes Foremost's largest shareholder
- Minimum $8 million exploration investment required for Foremost to retain interests
The agreement covers 10 properties, with Denison holding 100% ownership in all except Hatchet Lake (70.15% interest). Foremost will act as project operator, with Denison providing technical support.
Grounded Lithium Corp. (GLC) announces a CAD$4.5 million budget for the Kindersley Lithium Project (KLP), fully funded by Denison Mines Corp under their Earn-in Agreement. The budget aims to advance the project through June 2025, focusing on:
1. Developing a NI-43-101 compliant pre-feasibility study (PFS)
2. Further resource delineation through drilling and sampling
3. Additional brine production for testing extraction technologies
4. Creating a depletion and recovery model for economic analysis
This collaboration represents a significant step in advancing the KLP, with Denison set to earn a 30% working interest upon funding CAD$2.2 million in project expenditures. The budget's completion will bring Denison's total investment to over CAD$5.0 million, nearing the CAD$6.0 million required for Phase 2 of the agreement.
Denison Mines Corp. (TSX: DML) (NYSE American: DNN) reported its Q2 2024 financial and operational results, highlighting significant progress in the Phoenix project post-Feasibility Study. CEO David Cates emphasized the completion of over 30% total engineering and ongoing long-lead procurement efforts, targeting first production by 2027/2028. The company secured support from Indigenous and non-Indigenous parties through impact-benefit agreements. Denison ended Q2 with no debt and working capital plus investments valued at nearly 95% of its share of the Phoenix FS initial capex. The company also completed an inaugural ISR field test at the Midwest Main deposit, validating key assumptions for potential ISR mining. Additionally, Denison announced the signing of benefit agreements with Kineepik Métis Local #9 and the Village of Pinehouse Lake for the Wheeler River Project.
Denison Mines announced the signing of two significant agreements supporting its Wheeler River Project in northern Saskatchewan. The Mutual Benefits Agreement (MBA) with Kineepik Métis Local #9 (KML) and the Community Benefit Agreement (CBA) with the Northern Village of Pinehouse Lake aim to enhance sustainable development, economic growth, and environmental stewardship. The agreements grant Denison the consent and support needed to advance the Wheeler River Project and promise employment, training, and business opportunities for local communities. The Wheeler River Project, featuring high-grade Phoenix and Gryphon uranium deposits, is poised to be one of the lowest-cost uranium mining operations globally. These agreements mark a key milestone in Denison's extensive engagement and relationship-building efforts with local communities.
Denison Mines Corp. (NYSE American: DNN) announced the completion of its inaugural In-Situ Recovery (ISR) field test program at its 25.17% owned Midwest Uranium Project. The program involved drilling 10 small-diameter boreholes to evaluate site-specific conditions for ISR mining. Tests validated key assumptions in a prior conceptual mining study, confirming hydraulic conductivity and the effectiveness of permeability enhancement. Data collected will support a Preliminary Economic Assessment for ISR mining. The Midwest project is located 25 km from Denison's McClean Lake Operation, which has excess processing capacity. This marks Denison's third ISR mining evaluation in the Athabasca Basin.
Grounded Lithium Corp. (OTCQB: GRDAF) reported its financial and operating results for Q1 2024. Key highlights include a net comprehensive loss of CAD 507,607, a significant improvement from the CAD 1,682,288 loss reported in Q1 2023. The company also announced entering into agreements with Denison Mines Corp., which are expected to fund a field pilot for the KLP project. Operating cash flow used was CAD 411,756, down from CAD 1,730,836 in the same period last year. Capital expenditures saw a disposition of CAD 800,000. The company's working capital surplus was CAD 303,222, down from CAD 890,061 a year earlier. Shares outstanding increased to 78,279,227 from 69,656,423. Further details can be found in their financial statements and management's discussion on their website or sedarplus.ca.
Denison Mines Corp. reported the successful election of directors at the Annual General Meeting of Shareholders, with nominees elected and all business items approved. David Cates expressed gratitude to outgoing Board Chair Ron Hochstein and announced Jennifer Traub as the new Board Chair. Detailed voting results were provided, indicating overwhelming support for the elected directors.
FAQ
What is the current stock price of Denison Mines (DNN)?
What is the market cap of Denison Mines (DNN)?
What is Denison Mines Corp.'s core business?
What is the significance of the Wheeler River project?
What are Denison's other major assets?
How is Denison advancing its Wheeler River project?
What sustainability initiatives is Denison involved in?
What is Denison's interest in the McClean Lake Joint Venture?
How large is Denison's exploration portfolio?
What recent achievements has Denison announced?
What makes Denison Mines Corp. a significant player in the uranium sector?
What is the company's ticker symbol and where is it listed?
