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Denison Mines Reports Financial and Operational Results for Q2 2023
TORONTO, Aug. 10, 2023 /CNW/ - Denison Mines Corp. ('Denison' or the 'Company') (TSX: DML) (NYSE American: DNN) has filed its Condensed Consolidated Financial S
About this update from Denison Mines Corp.
[{"type":"text","content":" TORONTO, Aug. 10, 2023 /CNW/ - Denison Mines Corp. ('Denison' or the 'Company') (TSX: DML) (NYSE American: DNN) has filed its Condensed Consolidated Financial Statements and Management's Discussion & Analysis ('MD&A') for the quarter ended June 30, 2023. Both documents are or will be available on the Company's website at www.denisonmines.com, SEDAR+ (at www.sedarplus.ca) and EDGAR (at www.sec.gov/edgar.shtml). The highlights provided below are derived from these documents and should be read in conjunction with them. All amounts in this release are in Canadian dollars unless otherwise stated. . David Cates, President and CEO of Denison commented, \"During the second quarter, Denison achieved a further notable milestone associated with the advancement of our flagship Wheeler River Project ('Wheeler River') with the completion of (i) a highly successful Feasibility Study ('Phoenix FS') evaluating the use of In-Situ-Recovery ('ISR') mining for the high grade Phoenix uranium deposit ('Phoenix'), and (ii) a positive cost update ('Gryphon Update') to the Pre-Feasibility Study ('PFS') for the underground mine planned for the Gryphon uranium deposit ('Gryphon'). As outlined in the Phoenix FS, Denison has successfully completed several years of technical de-risking, which has cemented Phoenix's position as one of the lowest-cost uranium development projects in the world. Notably, the economics of Phoenix as an ISR mining operation remain exceptionally robust, despite industry-wide cost inflation, while most contemporary uranium development projects have not yet been tested against current cost inflation. The recent results of the Phoenix FS and Gryphon Update illustrate Denison's unique potential to become a meaningful uranium producer with multiple low-cost development assets. Global support for the role of nuclear power in the clean energy transition continues to grow and uranium buyers are increasingly prioritizing geopolitical stability. Denison is well funded, with over $235 million in working capital and investments at the end of the second quarter, and focused on advancing Phoenix to a final investment decision in anticipation of building a much-needed new source of Canadian uranium production.\" Highlights Feasibility Study for Wheeler River Phoenix deposit yields significant increase in e...