Why Denison Mines Stock Soared Today

• Denison Mines announced it is astir acceptable to commencement operation connected its caller uranium mine.

• Regulatory approvals are successful process, and accumulation could statesman mid-2028.

• 10 stocks we similar amended than Denison Mines ›

Denison Mines (NYSEMKT: DNN) banal started disconnected the New Year right, soaring 11.3% done 11:25 a.m. ET Friday, aft the uranium mining institution announced this greeting that it's acceptable to commencement operation of its "proposed Phoenix In-Situ Recovery ... uranium mine."

Denison calls Phoenix its "flagship" project, and says it volition "become the archetypal caller large-scale uranium excavation built successful Canada since Cigar Lake."

"Significant regulatory, engineering, and operation readying advancement has been made passim 2025, which has positioned Phoenix successful a construction-ready state," says the company. Construction volition instrumentality 2 years, and "provided last regulatory approvals to commence operation are received successful Q1'2026," this means uranium accumulation mightiness conceivably statesman by mid-2028."

Denison continues to expect that wide adoption of atomic vigor astir the satellite volition thrust accrued request for uranium, creating a acceptable marketplace for output from the Phoenix project. As regards regulatory approvals, absorption notes "Canada's nonsubjective to make sustainable and environmentally liable 'nation building' mining projects to reinvigorate Canada's earthy resources sector."

All of the supra bodes good some for getting Phoenix online connected clip and according to schedule, arsenic good arsenic for determination being plentifulness of request for Denison's uranium erstwhile the caller excavation begins producing.

The adjacent measurement volition beryllium to person last regulatory support from the Canadian Nuclear Safety Commission, aft which Denison volition marque a last concern determination connected whether to proceed with construction. Assuming this is successful the affirmative, the institution anticipates it volition request to walk $600 cardinal to implicit operation -- and Denison has "over $700 cardinal of cash, carnal uranium and investments" with which to wage for it.

Things are looking bully for Denison.

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