Denison Mines Corp. began full-scale construction of its flagship Phoenix in-situ recovery uranium mine in July. Site preparation is largely complete following a final investment decision earlier this year. Key milestones currently underway include process plant foundations and freeze wall installation.
The company sold 750,000 pounds of U3O8 in the second quarter. Sales averaged $122.16 per pound. The transaction generated over $90 million in proceeds to fund the Phoenix project. This represents a 233% gain over the company's 2021 acquisition costs.
Denison reported a net loss for the first six months of 2026. Project and financing expenses influenced the half-year financial results.