Sightful Invest
  • Business
  • Investing
  • Politics
  • Stock
Top Posts
Musk officially steps down from DOGE after wrapping...
HHS slams ‘under-tested’ mRNA technology as Trump cuts...
State Department says it will ‘aggressively’ revoke visas...
SEN. JEANNE SHAHEEN: If Trump wants a Ukraine...
Trump’s drastic NSC cuts spark debate: Does fighting...
GOP rails against ‘blatantly false’ Dem claims about...
SCOOP: GOP push for new House committee to...
Elon Musk criticism of Trump tax bill frustrates...
What’s next for DOGE after Elon Musk’s departure?...
Hamas faces ‘legitimacy crisis’ as desperate Gazans flock...
  • Business
  • Investing
  • Politics
  • Stock

Sightful Invest

Investing

Denison Moving Forward at Phoenix, Targeting Uranium Production by 2027/2028

by admin August 10, 2024
August 10, 2024
Denison Moving Forward at Phoenix, Targeting Uranium Production by 2027/2028

Denison Mines (TSX:DML,NYSEAMERICAN:DNN) commented on ‘significant’ advancements at its Phoenix uranium deposit following the completion of a feasibility study in June 2023.

The company is now halfway through a two year plan to reach a final investment decision, with the first phase of production targeted for 2027 to 2028. According to CEO David Cates, over 30 percent of total engineering is complete.

‘Our rapid engineering progress is possible because we have built off of the systematic and rigorous technical evaluation and de-risking work that was incorporated into the feasibility study,” he said in a Thursday (August 8) press release.

Phoenix is located at the Wheeler River project in Canada’s Athabasca Basin, a uranium hotspot.

Cates noted that the feasibility study accounts for the cost inflation that affected the mining sector from 2021 to 2023, while also integrating lessons from the environmental assessment process, which Denison went through in 2022.

Engineering and long-lead procurement efforts are progressing well, in line with the company’s project plans.

Denison has also gotten support for Wheeler River from both Indigenous and non-Indigenous parties, and is making progress on finalizing an environmental impact statement (EIS), project permitting and licensing.

‘Based on feedback received to date, we are optimistic that the EIS review process is nearing completion,” Cates said.

Financially, the Denison CEO emphasized that the company remains in a strong position. It reported a debt-free balance sheet at the end of the year’s second quarter, as well as working capital and investments equivalent to nearly 95 percent of Denison’s share of the initial CAPEX laid out in the feasibility study for Phoenix.

Denison is also making progress outside of Phoenix and Wheeler River. Cates said the company is carrying out field studies and evaluations at both the Tthe Heldeth Túé and Midwest Main deposits, also in the Athabasca Basin.

It recently coordinated with nuclear fuel cycle leader Orano Group to complete an inaugural field test of in-situ recovery (IRS) mining at Midwest Main. The test provided preliminary validation that the deposit has the characteristics necessary for an ISR operation. The focus is now on completing a preliminary economic assessment within the year.

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
Energy Fuels Releases Q2 Results, Plans to Boost Uranium Production
next post
UAE Suspends 32 Gold Refineries in Anti-Money Laundering Initiative

You may also like

Nickel Price Update: Q1 2025 in Review

April 23, 2025

Supplementary Prospectus

December 9, 2024

Top 5 Canadian Biotech Stocks in 2025

April 23, 2025

BPH Global receives funding commitment of A$100,000

December 18, 2024

Mart Wolbert: Uranium Bull Thesis Intact, “Half-time Break”...

September 17, 2024

Presenting on the Emerging Growth Conference 76 Day...

October 29, 2024

How Would a New BRICS Currency Affect the...

January 3, 2025

Intersects Visible Gold and Multiple Zones of Sulfide...

August 28, 2024

CONNEQT App Launches in USA as Pulse Deliveries...

January 23, 2025

New Generation Atomic Layer Deposition Machine Procured

November 11, 2024

Recent Posts

  • Musk officially steps down from DOGE after wrapping work streamlining government
  • HHS slams ‘under-tested’ mRNA technology as Trump cuts Moderna’s vaccine funding
  • State Department says it will ‘aggressively’ revoke visas for Chinese students
  • SEN. JEANNE SHAHEEN: If Trump wants a Ukraine deal, he should reread his own book
  • Trump’s drastic NSC cuts spark debate: Does fighting the ‘Deep State’ put national security at risk?

    Become a VIP member by signing up for our newsletter. Enjoy exclusive content, early access to sales, and special offers just for you! As a VIP, you'll receive personalized updates, loyalty rewards, and invitations to private events. Elevate your experience and join our exclusive community today!


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

    Categories

    • Business (747)
    • Investing (2,201)
    • Politics (2,719)
    • Stock (4)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: sightfulinvest.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 © 2024 Sightful Invest. All Rights Reserved.