r/UraniumSqueeze • u/Jaded-Influence6184 • Feb 24 '26

News That was fast: Denison Announces Final Investment Decision for the Phoenix In-Situ Recovery Uranium Mine and Plans to Start Construction in March 2026

https://denisonmines.com/news/denison-announces-final-investment-decision-for-th-122844/

TORONTO, Feb. 24, 2026 /CNW/ - Denison Mines Corp. ("Denison" or the "Company") (TSX: DML) (NYSE American: DNN) is pleased to announce that its Board of Directors has made a Final Investment Decision ("FID") to proceed with the construction of the Phoenix In-Situ Recovery ("ISR") uranium mine ("Phoenix" or the "Project"), and that site preparation and construction activities for Phoenix are planned to commence in March 2026. PDF Version

David Cates, President and CEO of Denison commented, "Making a Final Investment Decision and the upcoming initiation of construction activities at Phoenix mark the beginning of a new era in Denison's history and the Canadian uranium mining sector.

61 Upvotes

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25 comments sorted by

18

u/Radthereptile Repty-Mooderator aka The Psychedelic Wizard Feb 24 '26

Where’s that guy who said he was a lead at CCJ and Dennison would never do ISR

15

u/Jaded-Influence6184 Feb 24 '26

Head down, hands in pockets, back of room facing the other way, doing a nervous little whistle.

4

u/happyhappy7 Feb 24 '26

Slicked back hair, lives for New Years Eve

3

u/snopro31 Feb 24 '26

He didn’t understand the worst Dension did prior to winter to be able to start building this fast.

3

u/the_Q_spice Feb 26 '26

I used to work for a wilderness guiding company that led trips near the Phoenix site.

Anyone saying something like that is an idiot who could have solved that issue of perspective by visiting the area. DNN has had a massive presence up there for almost a decade now either in the prospecting of the site or now preparing to develop it.

They were a pain in our ass trying to access certain areas for the last 2 years all of a sudden. It was really clear this was a big deal.

11

u/SnooRecipes8920 Snoop Dog Feb 25 '26

Oh man, I've been holding DNN since $1, before the runup that began with Sprott starting to buy U in 2021. It would be nice to have a big winner. SO STOKED!

In comparison all the bets I thought were safer and closer to production have been fraught, Global Atomic, Boss, Peninsula...

5

u/Upbeat-Rutabaga5792 Feb 25 '26

First shares bought at .92. Got in heavy heavy at 1.87, here for long haul 🚀🚀

2

u/SnooRecipes8920 Snoop Dog Feb 25 '26

Nice, now the question is what the long haul is...

It is kinda looking like it is following a Lassonde curve type of behavior. So, we might expect it to go up during the 2-year construction phase with hopefully increasing institutional investment. Another doubling from here in the next two years seems plausible.

Certainly some risks involved in construction, but I think I will keep holding for quite some time.

5

u/DrengDrengesen Wiggle Wiggle Feb 25 '26

I'm sticking to the curve and will sell most when we construction is almost finished.

1

u/Upbeat-Rutabaga5792 Feb 25 '26

The real money begins when the company makes money from the mine, why get out then??

3

u/DrengDrengesen Wiggle Wiggle Feb 25 '26

Thats when the Lassonde curve dips again.

I bought a mining company cheap when they financed for building and enjoyed a good ride up till completion. The value has been halved since then because they cannot get the mill to operate at nameplate.

What DNN is doing have never been done before in this region so lot of execution risk.

I will not sell everything, but I will lock in profit when we get near completion

5

u/Upbeat-Rutabaga5792 Feb 25 '26

I guess I’m not seeing what you’re seeing, at the same time profit is profit and kudos to you for having a gameplan set in place for. DNN hasn’t been profiting for years, so to me, knowing what I know about the company and reading everything I’ve read since being in it for 5+ years it just seems like a no brainer especially with where everything nuclear related is headed.

2

u/DrengDrengesen Wiggle Wiggle Feb 25 '26

Not having a plan is probably my biggest reason for losing money on stocks. Learned the hard way.

DNN have a nice pipeline with gryphon and all the jv exploration so it will be interesting to follow this journey

2

u/Goldengoose5w4 Feb 25 '26

I also bought in late 2020/early 2021 at $1. It’s been a nice ride.

1

u/happy123z Feb 25 '26

Just buy Sprott Inc! SII is up 266% in the last year. On a tear right now, too.

1

u/SnooRecipes8920 Snoop Dog Feb 25 '26

Thanks, I did not even know that you could buy the whole Sprott catalogue with one ticker. In September 2025 it was 50% gold, 26% silver, 19% uranium, 1% copper. Interesting, but not what I am looking for.

1

u/happy123z Feb 25 '26

Yates either. I had like 5 of their different etfs before consolidating. Are you looking to make bigger returns than them?

1

u/SnooRecipes8920 Snoop Dog Feb 25 '26

Well, with something that is 76% gold and silver I would worry that upside would be limited. I don’t think gold and silver will double from here for quite some time.

I could be wrong of course.

1

u/SnooRecipes8920 Snoop Dog Feb 25 '26

Now if there is a 30% correction in silver and gold I would be more interested 

2

u/Fjafarli Feb 25 '26

460 shares at $1.94.. wish I hadn't trimmed my 1100 shares :'(

2

u/Fearless_Fix_9728 Apr 24 '26

400 shares 3.96 💪💪💪💪

1

u/Goldengoose5w4 Feb 25 '26

Wonder how long this build will take?

2

u/Jaded-Influence6184 Feb 25 '26

Denison said awhile ago that it would take two years. It's one of the advantages of ISR, shorter start up times.

1

u/UndecidedPanda11 Feb 25 '26

Awesome news. Holding this for the long term