Denison Mines Secures Grid Power for Phoenix Uranium Project with New 138kV Line
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jan 08 2026
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Should l Buy DNN?
Source: Newsfilter
- Power Supply Milestone: Denison Mines has successfully connected the Phoenix uranium project to SaskPower's 138kV grid, significantly de-risking project execution as power supply is critical for first-year construction activities.
- Accelerated Project Progress: The new transmission line, approximately 6 kilometers long, links the Phoenix site to the existing grid, ensuring that power needs during construction and operation phases are met, enhancing the project's competitive edge.
- Power Agreement Advantage: Denison has secured access to up to 8.8 MW of power through an agreement with SaskPower, committing to a minimum purchase amount over five years, which ensures the project's long-term sustainability.
- Construction Readiness: The completion of the power line allows for the implementation of electrical infrastructure at the Phoenix site, with equipment already procured and scheduled for installation within the first year, further advancing project timelines.
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Analyst Views on DNN
Wall Street analysts forecast DNN stock price to fall
5 Analyst Rating
5 Buy
0 Hold
0 Sell
Strong Buy
Current: 3.830
Low
3.00
Averages
3.73
High
4.76
Current: 3.830
Low
3.00
Averages
3.73
High
4.76
About DNN
Denison Mines Corp. is a Canada-based uranium exploration and development company focused on the Athabasca Basin region of northern Saskatchewan, Canada. The Company holds a 95% interest in the Wheeler River Project, which is a uranium project. It hosts two uranium deposits: Phoenix and Gryphon. It is located along the eastern edge of the Athabasca Basin in northern Saskatchewan. It holds a 22.5% ownership interest in the McClean Lake joint venture (MLJV), which includes several uranium deposits and the McClean Lake uranium mill. It also holds a 25.17% interest in the Midwest Main and Midwest A deposits, and a 67.41% interest in the Tthe Heldeth Tue (THT) and Huskie deposits on the Waterbury Lake property. The Company, through JCU (Canada) Exploration Company, Limited, holds indirect interests in the Millennium project, the Kiggavik project, and the Christie Lake project. It also offers environmental services. The Company also uses MaxPERF drilling tool technology and systems.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Put Option Yield Potential: If the put option expires worthless, it would yield a 1.43% return on the cash commitment, or an annualized return of 12.14%, highlighting the profitability of this strategy, with Stock Options Channel tracking these metrics over time.
- Call Option Return Analysis: Selling a call option at a $5.00 strike price while purchasing shares at $4.13 could yield a total return of 22.28% if the stock is called away at expiration, indicating significant potential upside for this strategy.
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See More
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- Uranium Market Developments: South Korea's announcement to build two large nuclear plants in the 2030s, operational by 2037 and 2038, is bullish for global uranium demand, yet it has not prevented Centrus Energy's stock decline, reflecting complex market sentiments.
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See More
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- Strategic Partnership Deepening: This drilling initiative serves as a key catalyst for Skyharbour's collaboration with Denison Mines, expected to leverage Denison's successful experience in the Wheeler River project to enhance the development potential of the Russell Lake project.
- Project Restructuring Completed: Following a strategic transaction with Denison in December 2025, Skyharbour reorganized the former Russell Lake uranium project into four separate joint ventures, increasing resource development flexibility and market competitiveness.
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See More
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