TD Securities Raises Denison Mines' Target to $6.50, Bullish on Construction Timeline

Denison Mines Corp. has received final regulatory approvals for the Phoenix in-situ recovery uranium mine construction, with site preparation and construction set to begin in March 2026 and first production targeted for mid-2028. The company has completed 87% of the total engineering and updated the project's initial capital estimate to $600 million. Denison also completed a $345 million convertible senior notes offering in August 2025.