A tour visits Denison’s Phoenix Feasibility Field Test site. Credit: Denison Mines
Canada’s first potential in-situ recovery (ISR) uranium project has moved one step closer to reality with Denison Mines (TSX: DML; NYSE: DNN) receiving its environmental assessment (EA) approval from Saskatchewan.
The Prairie province, where Denison has its main Phoenix/Wheeler River ISR project, has given the green light to start developing the mine in the southeast Athabasca basin, the company said Tuesday. Phoenix is about 600 km north of Saskatoon.
“Denison’s announcement that it has received provincial environmental assessment approval for Wheeler River is a key positive for the stock as it progresses the project towards construction,” BMO Capital Markets analyst Alexander Pearce said in a note on Tuesday.
“The next major milestone is obtaining federal EA approval, with the company’s Canadian Nuclear…
