DML:CC - Denison Mines sees 'significant' boost in Wheeler River economic results

2023-06-26 14:28:22 ET

Denison Mines ( NYSE: DNN ) +2.5% in Monday's trading after releasing results of a feasibility study completed for in-situ recovery mining of the high-grade Phoenix uranium deposit, part of its 95% owned Wheeler River project in Saskatchewan.

Denison ( DNN ) said the Phoenix feasibility study and cost update of the Gryphon uranium deposit "confirm the robust economics of the two projects" within the Wheeler River property, producing base-case after-tax net present values of $1.6B and $900M, respectively.

As a result, Denison ( DNN ) said the planned rate of production has risen by ~43% during the first five years of operation, mining at 8.4M lbs/year of U3O8.

"With the highly positive results of the Phoenix FS, our team has already shifted focus to advancing front-end engineering and design efforts, with a target of transitioning into detailed design before the end of the year," the company said.

More on Denison Mines:

• Financial and valuation comparison to sector peers
• Analysis: Denison Mines: Leverage To Future Uranium Prices At A Reasonable Valuation
• Stock price return: Up 6.5% YTD, up 8.5% in the past 12 months

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