Crazy Flux
  • Business
  • World
  • Stocks
  • Investing
  • Business
  • World
  • Stocks
  • Investing

Crazy Flux

Investing

Denison Mines Moves Closer to Federal Approval for Phoenix ISR Uranium Project

by admin March 1, 2025
March 1, 2025
Denison Mines Moves Closer to Federal Approval for Phoenix ISR Uranium Project

Dual listed uranium miner Denison Mines (TSX:DML,NYSEAMERICAN:DNN) announced that the Canadian Nuclear Safety Commission (CNSC) has scheduled public hearings for the Wheeler River uranium project in Saskatchewan, marking a significant step toward final federal approval.

Denison Mines is a uranium mining, development and exploration company focused on the Athabasca Basin region of Northern Saskatchewan, Canada. The company holds an effective 95 percent interest in its flagship Wheeler River uranium project, the largest undeveloped uranium project in the Eastern Athabasca Basin.

The public hearing, set for later this year on October 8 and December 8 through 12, will be the final stage in the environmental assessment process and the decision regarding the company’s application for a Licence to Prepare and Construct a Uranium Mine and Mill.

If the CNSC grants approval shortly after the hearings, Denison expects to begin site preparation and construction for the Phoenix in-situ recovery (ISR) uranium project located within its Wheeler River land package in early 2026.

The project has already cleared several major regulatory hurdles, including the completion of the technical review phase of the federal environmental assessment process in November 2024.

Additionally, the CNSC determined that the company’s license application met sufficiency requirements that same month and accepted Denison’s final Environmental Impact Statement (EIS) in December.

“With the potential to commence construction in early 2026, we expect to be able to maintain our target of achieving first production from Phoenix by the first half of 2028,” said David Cates, president and CEO of Denison, in a February 27 statement.

In mid-2023, Denison completed a feasibility study for the Phoenix deposit as an ISR mining operation and updated a 2018 pre-feasibility study for the Gryphon deposit, which is being planned as a conventional underground mining operation.

According to these studies, both deposits have the potential to be among the lowest-cost uranium mining operations globally. Permitting for the Phoenix ISR operation began in 2019, with major milestones achieved in 2024, including the submission and acceptance of final federal licensing documents and the Environmental Impact Statement by both the CNSC and the Province of Saskatchewan.

Beyond Wheeler River, Denison holds interests in a variety of uranium operations and projects in the Athabasca Basin, including a 22.5 percent interest in the McClean Lake Joint Venture with partner Orano Canada. The pair plans to restart mining at the McClean Lake North deposit this year using the venture’s proprietary SABRE mining method. The partnership also owns the McLean Lake mill, which is currently processing ore from the Cigar Lake mine under a toll milling agreement.

Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com

previous post
Nvidia CEO Huang says AI has to do ‘100 times more’ computation now than when ChatGPT was released
next post
Top 5 Canadian Mining Stocks This Week: GPM Metals Leads With 37 Percent Gain

Related Posts

Randy Smallwood: Gold Price Strong, Now it’s Time...

March 25, 2025

Rare Earths Stocks: 9 Biggest Companies in 2025

April 8, 2025

Crypto Market Recap: Strategy Buys US$180 Million Worth...

May 6, 2025

Uvre to Acquire Highly Prospective Gold Exploration Projects...

May 19, 2025

Manindi Ti-V-Fe Discovery Delivers High-Grade Concentrates

May 16, 2025

Feedback of U.S. Department of Defense Award Funding

May 19, 2025

Jim Thorne: US$5,000 Gold by 2028? “Crazy Phase”...

April 4, 2025

Mawson Finland Announces Upsize of Brokered Private Placement

February 15, 2025

JZR Gold Inc. Closes Non-Brokered Private Placement Offering...

March 5, 2025

5 Biggest Pharmaceutical ETFs in 2025

May 7, 2025

    Join our mailing list to get access to special deals, promotions, and insider information. Your exclusive benefits await! Enjoy personalized recommendations, first dibs on sales, and members-only content that makes you feel like a true VIP. Sign up now and start saving!


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent

    • Ukraine and Russia begin large-scale prisoner exchange, source says

      May 24, 2025
    • In Gaza, limited food aid meets desperate crowds and looting

      May 24, 2025
    • Legendary Brazilian photographer Sebastião Salgado dead at 81

      May 24, 2025
    • At least 12 injured in hot air balloon crash in Mexico

      May 24, 2025
    • Several people sustain ‘life-threatening’ injuries in knife attack at Hamburg’s Central Station, police say

      May 24, 2025
    • ‘What was that bang?’ Footage captures sound of Titan sub’s implosion

      May 24, 2025
    • About us
    • Contacts
    • Privacy Policy
    • Terms and Conditions
    • Email Whitelisting

    Disclaimer: crazyflux.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.


    Copyright © 2025 crazyflux.com | All Rights Reserved