Why Denison Mines Stock Price Is Rising as Phoenix Uranium Mine Nears Construction
Denison Mines shares rose 1.2% to $3.705 Tuesday after announcing it will begin site preparation at its Phoenix uranium project in Saskatchewan this month, following final federal approval in February. Phoenix is the first Canadian uranium mine to secure federal construction approval in over 20 years. Trading volume topped 25 million shares. Denison targets first production by mid-2028 and has US$345 million in convertible notes to help fund construction.