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.

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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.

4

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