Denison Mines(US:DNN) Yahoo Finance·2026-01-02 17:14Group 1 - Denison Mines' stock increased by 11.3% after announcing readiness to start construction of the Phoenix In-Situ Recovery uranium mine [1] - The Phoenix project is positioned to be the first large-scale uranium mine built in Canada since Cigar Lake, with construction expected to take two years and potential uranium production starting by mid-2028 [2] - The company anticipates that the global adoption of nuclear energy will drive demand for uranium, supporting the market for output from the Phoenix project [3] Group 2 - Denison is awaiting final regulatory approval from the Canadian Nuclear Safety Commission before making a final investment decision on construction, with an estimated construction cost of $600 million [4] - The company has over $700 million in cash, physical uranium, and investments available to fund the construction [4]