Denison Mines stock highlights Phoenix progress at EUR 1.99

Published on 11/10/2026 at 22:02 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Denison Mines stock remains focused on Phoenix, where construction reached 24 percent after its first full-scale quarter. Uranium drilling added targets.

Phoenix construction sets the focus

Denison reported 24 percent total completion at Phoenix after its first quarter of full-scale construction.
The company continues to target construction completion and first production in the second half of 2028.
Drilling at the Phoenix North target encountered additional uranium mineralization near the mine site.

DML, CA2483561072, Illustration mit AI erstellt.

Denison Mines reported financial and operational results for the three and nine months ended September 30 on November 4. The company said its Phoenix in-situ recovery uranium project had reached 24 percent total completion after the first quarter of full-scale construction.

Denison Mines' November 4 release said engineering, project management and owner's costs were 32 percent complete, while construction and construction indirect costs were 20 percent complete. Fabrication and delivery of equipment and materials stood at 32 percent.

Phoenix progress and spending

By the end of October, nearly half of the site's civil work was complete. Denison said the main access road from Highway 914 was available for use, the substation area was substantially completed and work had advanced on the freeze plant area and airstrip.

Year-to-date Phoenix expenditures reached 161.1 million Canadian dollars through September 30. Denison estimated 2026 project spending at 278.6 million Canadian dollars, including fourth-quarter estimates for procurement, construction and engineering-related costs.

The company continues to target construction completion and first production during the second half of 2028. The schedule reflects an approximately two-year construction period after full-scale work began in July 2026, according to the release.

Exploration adds a second catalyst

Drilling at the Phoenix North target, located within the surface footprint of the mine under construction, produced additional uranium mineralization. Denison reported an intersection of 0.39 percent eU3O8 over 4.7 metres in drill hole WR-857D1 and 0.67 percent eU3O8 over 2.5 metres in WR-868.

The company said mineralization had been intersected across more than 100 metres of strike length at Phoenix North. Drilling was continuing into the fourth quarter, leaving the potential scale of the target subject to further exploration.

Denison Mines stock traded at 1.99 euros on Lang & Schwarz at 10:00 p.m. CET on Tuesday, November 10, 2026.