Denison Mines Stock Price, News & Analysis

Denison (DNN) signed an Impact Benefit Agreement (IBA) and an Exploration Agreement with Métis Nation–Saskatchewan, 13 MN–S Locals, MN–S NR-1 and MN–S NR-3, confirming Métis consent and support for development and exploration around the Wheeler River Project.

The company holds an effective 95% interest in Wheeler River. Provincial Environmental Assessment approval was granted in July 2025, and Canadian Nuclear Safety Commission hearings for federal approval and a construction licence began in October 2025 and are scheduled to conclude the week of Dec 8, 2025.

Denison (NYSE: DNN) and Ya'thi Néné Lands and Resources signed the Nuhenéné Benefit Agreement on Dec 1, 2025 with seven Athabasca communities, granting consent and support for Denison's Wheeler River, Waterbury Lake, Midwest (25.77% Denison) and McClean Lake (22.5% Denison) projects in northern Saskatchewan.

The Agreement secures community roles in environmental oversight (including Woodland Caribou and surface water monitoring), commitments on community investment, business, employment, training and financial compensation, and formalizes consent as Denison advances federal approvals for the Phoenix ISR project.

Denison (NYSE American: DNN) agreed to acquire initial interests in Skyharbour's Russell Lake uranium property adjacent to Denison's Wheeler River on November 17, 2025, for $18.0 million consideration (a $2.0 million upfront cash payment plus $16.0 million deferred payable by Dec 31, 2025).

Russell is subdivided into four joint ventures with Denison initial interests of 20% (Russell Lake), 30% (Getty East), 49% (Wheeler North) and 70% (Wheeler River Inliers). Denison may earn up to 70% in Wheeler North and Getty East via two‑phase earn‑ins requiring specified exploration expenditures and cash payments (Wheeler North total earn‑in expenditures: $25.0M after Phase 2; Getty East total: $15.0M after Phase 2).

Denison (NYSE American: DNN) filed Q3 2025 financials and MD&A reporting first production from McClean North and progress at Wheeler River.

Key metrics: 2,063 tonnes high-grade ore recovered (100% basis; Denison share 464 t), 85,235 lbs U3O8 produced in Q3 (Denison share 19,178 lbs) at ~US$19/lb operating cash cost of finished goods. Completed a US$345 million convertible notes offering due 2031; Denison reported ~$720 million in cash, investments and uranium holdings at Sept 30, 2025. Phoenix ISR is ~85% complete in total engineering and advanced in federal/provincial approvals with final federal hearing in Dec 2025 and expected decision in early 2026.

Denison (NYSE American: DNN) acknowledged that the Peter Ballantyne Cree Nation filed an application for judicial review in the Court of King's Bench for Saskatchewan on November 4, 2025, seeking to set aside the Provincial Ministerial approval under The Environmental Assessment Act for the Wheeler River Project and remit the decision for reconsideration.

Denison says it has undertaken extensive Indigenous engagement since March 2023, recently executed an environmental monitoring and capacity agreement with PBCN, denies the Application's claims, and intends to vigorously defend the approval. The company notes EA approval was received and CNSC hearings are set for fall 2025.

Cosa Resources (TSXV: COSA; OTCQB: COSAF) appointed David Cates, President and CEO of Denison Mines (NYSE: DNN), as Strategic Advisor on October 29, 2025. Cosa holds a 70% interest and operates multiple joint ventures with Denison at Murphy Lake North, Darby, and Packrat.

The appointment follows a transformative property acquisition earlier in 2025 and precedes a planned winter 2026 exploration program at Darby and Murphy Lake North.

Denison Mines (NYSE American: DNN) has increased its investment in Foremost Clean Energy by acquiring an additional 485,000 common shares at $2.20 per share, for a total of $1,067,000. Following this transaction, Denison's ownership in Foremost has increased from 16% to 19% of outstanding shares, now holding 2,462,410 shares and 607,600 warrants (17% of outstanding warrants).

The investment aligns with Denison's rights under its Investor Rights Agreement with Foremost. Denison, celebrating its 70th year in uranium operations, maintains significant interests in various uranium projects, including a 95% stake in the Wheeler River Uranium Project, the largest undeveloped uranium project in Saskatchewan's Athabasca Basin region.

Denison Mines (NYSE: DNN) has successfully closed its US$345 million convertible senior notes offering, including a US$300 million base offering and US$45 million option exercise. The notes, due September 15, 2031, feature a 4.25% annual coupon rate and an initial conversion price of US$2.92 per share.

The company implemented a capped call overlay strategy, purchasing cash-settled call options for US$35.36 million that effectively raises the conversion price to US$4.32 per share. This structure is expected to save Denison over US$100 million in interest payments compared to traditional project financing. The net proceeds of approximately US$333 million will support the development of uranium projects, including the Wheeler River Uranium Project.

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.