Denison Mines Stock Price, News & Analysis

Denison Mines (NYSE:DNN) has priced its upsized convertible senior notes offering at US$300 million, with an option for initial purchasers to acquire an additional US$45 million. The Notes, due 2031, will carry a 4.25% semi-annual interest rate and feature an initial conversion rate of 342.9355 common shares per US$1,000 principal amount, equivalent to US$2.92 per share.

The company has entered into capped call transactions to mitigate potential dilution, with a cap price of US$4.32 per share. Proceeds will fund uranium development projects, including the Wheeler River Uranium Project, with approximately US$30.75 million allocated for capped call transactions. The offering is expected to close around August 15, 2025, subject to regulatory approvals.

[ "Successful upsizing of convertible note offering to US$300 million with potential additional US$45 million", "Strategic implementation of capped call transactions to reduce potential dilution impact", "Secured funding for Wheeler River Uranium Project development", "Favorable 35% conversion premium above current share price" ]

Denison Mines (NYSE:DNN) has announced a significant offering of US$250 million convertible senior unsecured notes due 2031, with an option for initial purchasers to acquire an additional US$37.5 million. The notes will be convertible into common shares, cash, or a combination of both at Denison's discretion.

The proceeds will fund the company's uranium development projects, including the Wheeler River Uranium Project, and general corporate purposes. Denison plans to enter into capped call transactions to reduce potential dilution upon conversion. The notes will accrue interest semi-annually starting March 15, 2026, with maturity on September 15, 2031. The offering is subject to regulatory approvals from the Toronto Stock Exchange and NYSE American.

Denison Mines (NYSE:DNN) reported significant operational achievements in Q2 2025, marking a transformative period for the company. The company commenced uranium production at McClean Lake North using the proprietary SABRE mining method, with processing beginning at the McClean Lake mill in July.

A major milestone was achieved with the Provincial Environmental Assessment approval for the Wheeler River Uranium Project, bringing the Phoenix ISR mine closer to construction. The project has reached 80% completion in total engineering, with some first-year construction scopes approaching 100%.

Notable developments include the discovery of additional high-grade uranium mineralization at the Wheeler River Gryphon deposit and positive results from the Midwest Preliminary Economic Assessment, projecting 37.4 million pounds U3O8 production over 6 years with an after-tax IRR of 82.7% and NPV of $965 million.

Denison Mines (NYSE:DNN) has announced positive results from a Preliminary Economic Assessment (PEA) for In-Situ Recovery (ISR) mining at its 25.17%-owned Midwest Main uranium deposit. The PEA outlines total production of 37.4 million pounds U3O8 over a 6-year mine life, with annual average production of 6.1 million pounds.

The project demonstrates robust economics with a post-tax NPV of $965 million (100% basis) and an IRR of 82.7%. Initial capital costs are estimated at $254 million, with Denison's share being approximately $64 million. The project features low production costs of USD$11.69 per pound and a quick payback period of 9 months.

The updated mineral resource estimate shows 38.7 million pounds U3O8 in Indicated resources (510,000 tonnes @ 3.5% U3O8) and 12.6 million pounds U3O8 in Inferred resources. Processing will occur at the McClean Lake mill, which Denison partly owns (22.5%).

Denison Mines (NYSE American: DNN) has received crucial Ministerial approval under The Environmental Assessment Act (Saskatchewan) for its Wheeler River Project's In-Situ Recovery (ISR) uranium mine development. The project, located in the Athabasca Basin region, represents a significant milestone as it's set to become Canada's first ISR uranium mine.

The Wheeler River Project, 90% owned and operated by Denison, includes the high-grade Phoenix and Gryphon uranium deposits. The company successfully harmonized Federal and Provincial Environmental Assessments, with final regulatory steps including the Provincial Pollutant Control Facility Permit and Federal approvals scheduled for CNSC public hearings in October and December 2025.

The project is positioned to be among the world's lowest-cost uranium mining operations, with mining at the Phoenix deposit planned through ISR methods. This development strengthens Saskatchewan's position as the world's second-largest uranium producer.

Denison Mines (NYSE: DNN) has announced significant new discoveries of high-grade uranium mineralization at the McClean South zone, part of its 22.5%-owned McClean Lake Joint Venture in Saskatchewan. The 6,400-metre exploration program, conducted by majority owner Orano Canada (77.5%), revealed multiple high-grade intersections at the 8C pod, including:

• MCS-77: 7.51% eU3O8 over 5.4 metres
• MCS-80: 3.5% eU3O8 over 11.2 metres
• MCS-84: 1.72% eU3O8 over 20.6 metres

The program successfully expanded the mineralized footprint of the 8C and 8W pods, with 14 out of 24 drill holes encountering significant uranium mineralization. McClean South is located approximately 600 metres from the McClean North deposit, which recently began commercial production using the SABRE mining method.

Denison Mines (NYSE: DNN) and Orano Canada have successfully launched uranium mining operations using their patented Surface Access Borehole Resource Extraction (SABRE) method at the McClean Lake Joint Venture. The operation commenced in June at the McClean North uranium deposit, with approximately 250 tonnes of high-grade ore exceeding 10% U3O8 recovered from the first mining cavity.

The joint venture, in which Orano Canada holds a 77.5% interest as operator and Denison owns 22.5%, has already completed backfilling of the first cavity and begun processing the recovered ore at the McClean Lake mill. This marks the first active mining operations at the site since 2008, representing a significant technological advancement in uranium mining capabilities.

Denison Mines (NYSE:DNN) has announced the discovery of additional high-grade uranium mineralization at its Gryphon deposit, located approximately 3 km northwest of the Company's Phoenix ISR uranium project. A significant intersection in drill hole WR-837AD2 revealed 2.3 metres at 1.69% eU3O8, including 0.5 metres at 5.48% eU3O8, approximately 40 metres outside the previously defined D1 lens.

The discovery was part of a successful 12,500-metre delineation program completed in the first half of 2025. The Gryphon deposit contains Indicated Mineral Resources of 61.9 million pounds U3O8 at an average grade of 1.7%. The project demonstrates robust economics with an estimated after-tax NPV of $864.2 million and an IRR of 37.6%, with competitive cash operating costs of USD$12.75/lb U3O8.

Denison Mines (NYSE: DNN) reported Q1 2025 results highlighting significant progress on its Phoenix In-Situ Recovery uranium project. Key developments include: - 75% completion of total engineering for Phoenix, with $7M funded and $67M committed for long-lead capital purchases - CNSC public hearing scheduled for late 2025, supporting planned construction start in early 2026 and first production by mid-2028 - Strong financial position with 2.2M pounds U3O8 in physical uranium holdings, robust cash balance, and no debt - McClean Lake JV preparing for 2025 SABRE mining program at McClean North - Formation of exploration joint ventures with Cosa Resources, where Denison became the largest shareholder (~19.95%) - Board strengthened with appointments of Ken Hartwick (former OPG CEO), Jinsu Baik (KHNP nominee), and Wes Carson (Wheaton Precious Metals)