Denison Mines reports 24 percent construction progress at Phoenix uranium mine
Denison Mines has released its Q3 2026 financial results, noting that the Phoenix in-situ recovery project reached 24% completion in its first quarter of full-scale construction.
Denison Mines Corp. reported its third-quarter financial results for 2026, highlighting significant activity at its Phoenix in-situ recovery (ISR) uranium site. Following the first quarter of full-scale construction, the company reached a 24% completion milestone.
CEO David Cates stated that the company successfully utilized the summer construction season to advance critical site infrastructure, including road access and concrete work for the process plant. By the end of October 2026, approximately 50% of site civil works were completed, alongside the arrival of key electrical assets and the initiation of freeze well drilling.
The project remains on schedule to begin production in the second half of 2028. Beyond construction, Denison reported new exploration results from the Phoenix North target area, where recent drilling intersected uranium mineralization.
As the company moves into the winter phase, the focus remains on maintaining the construction schedule to meet its 2028 production target. Denison’s ability to execute on the Phoenix project is a central component of its broader strategy to increase its market share in the uranium sector.