Denison Mines Awards Construction Management Contract to Wood Canada
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Feb 18 2026
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The company stated yesterday: "Denison Mines announces that, following a competitive tender process, it has awarded Wood Canada Limited, a global leader in consulting and engineering, with the construction management contract o oversee the building of the Phoenix in-situ recovery uranium mine. This is a key milestone for the Project and represents another crucial step towards the commencement of construction."
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Analyst Views on DNN
Wall Street analysts forecast DNN stock price to rise
5 Analyst Rating
5 Buy
0 Hold
0 Sell
Strong Buy
Current: 3.480
Low
3.00
Averages
3.73
High
4.76
Current: 3.480
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.
Cosa Resources Plans Largest Drill Program at Murphy Lake North
- Drilling Program Scale: Cosa Resources is set to launch its largest drilling program at the Murphy Lake North project in summer 2026, with approximately 6,000 meters across 15 drill holes aimed at following up on uranium mineralization discovered in winter 2026, showcasing the company's strong exploration potential in the uranium market.
- Mineralization Follow-Up: The drilling will focus on the Cyclone mineralization, particularly multiple uranium intersections at a depth of 265 meters, with 600 meters of strike remaining open, indicating the potential for larger deposits and further enhancing Cosa's competitive position in the uranium sector.
- Funding Support: Denison Mines will participate in funding the 2026 exploration at Murphy Lake North to maintain its 30% interest, which not only provides financial backing for Cosa but also reflects Denison's confidence in the project, potentially fostering future collaboration and development.
- Strategic Significance: Cosa's management team has extensive experience in uranium exploration, having received the AME Colin Spence Award in 2022, indicating its recognition and influence in the industry, and the upcoming drilling plans will further solidify its leadership position in the uranium market.
See More
Foremost Clean Energy and Denison Mines Share Subscription Agreement
- Share Issuance Details: Foremost Clean Energy Ltd. will issue 137,590 common shares to Denison Mines at a price of $2.44 per share for a total of $335,719.60, increasing Denison's ownership stake in Foremost to approximately 15.8%.
- Use of Proceeds: The proceeds from this private placement will be utilized to advance exploration in Foremost's 330,000-acre Athabasca Basin uranium portfolio, particularly the flagship Hatchet Lake project, which recently reported 1.0% eU₃O₈ over 1.4 meters in drilling results.
- Shareholding Disclosure: Prior to this transaction, Denison held about 15.1% of Foremost's shares, and post-transaction, it will hold 2,600,000 shares, reflecting Denison's confidence in Foremost's prospects, with an early warning report to be filed to comply with securities regulations.
- Strategic Investment Context: Through its partnership with Denison, Foremost has the option to earn up to 70% interest in multiple uranium properties, indicating the company's strategy to capitalize on the growing nuclear energy market amid rising global demand for carbon-neutral energy solutions.
See More
Foremost Clean Energy Secures Share Subscription from Denison
- Share Issuance Details: Foremost Clean Energy will issue 137,590 common shares to Denison Mines at $2.44 per share for a total of $335,719.60, increasing Denison's ownership in Foremost from 15.1% to 15.8%.
- Use of Proceeds: The funds raised from this private placement will be directed towards advancing exploration in Foremost's 330,000-acre Athabasca Basin uranium portfolio, particularly the flagship Hatchet Lake project, which recently reported 1.0% eU₃O₈ over 1.4 meters, indicating strong mineral potential.
- Shareholding Changes Disclosure: Following the issuance, Denison will hold 2,600,000 common shares of Foremost and 607,600 warrants, representing approximately 17% of the issued and outstanding warrants, which will influence its future investment strategies.
- Investment Strategy Adjustment: Foremost intends to continuously evaluate its investment relationship with Denison and may decide to acquire or dispose of additional securities based on market conditions, leveraging its pre-emptive rights under the Investor Rights Agreement.
See More
Eagle Nuclear Initiates Environmental Baseline Studies
- Project Launch: Eagle Nuclear Energy Corp. announced on May 5, 2026, the initiation of environmental baseline studies at its flagship Aurora Uranium Project, preparing for a 27,000-foot drilling program set to commence in July 2026, indicating the company's proactive stance in uranium resource development.
- Resource Reserves: The Aurora Uranium Project hosts 32.75 million pounds of indicated uranium resources and 4.98 million pounds of inferred resources under the SK-1300 TRS reporting standard, highlighting its significant position in the U.S. uranium market.
- Drilling Program: The drilling program will be conducted by Harris Exploration Drilling & Associates Inc., utilizing 2 to 3 rigs to complete 47 holes over an estimated 3 to 4 months, aimed at addressing data gaps and advancing the Pre-Feasibility Study (PFS).
- Market Context: As of May 2026, spot uranium prices are approximately $86.55 per pound, a 24% increase year-over-year, reflecting the growing domestic demand for uranium development, which further propels Eagle Nuclear's strategic growth.
See More
Denison Mines Reports Q1 Earnings and Project Update
- Earnings Report: Denison Mines reported a Q1 GAAP EPS of -C$0.13, indicating a decline compared to the previous year, which may challenge investor confidence amid market volatility.
- Revenue Decline: The company generated revenue of C$1.11 million, down 19.6% year-over-year, reflecting poor sales performance against a backdrop of weak global uranium demand, potentially impacting future cash flow and operational plans.
- Project Advancement: Denison Mines has approved the final investment decision for the Phoenix uranium mine, with construction set to begin in March, a move that not only enhances the company's uranium production capacity but also lays the groundwork for future revenue growth.
- Historical Financial Data: Historical financial data for Denison Mines indicates that despite current challenges, the company's high-quality projects and execution capabilities in the uranium sector still provide potential upside for long-term growth.
See More
Denison Mines Reports Q1 2026 Financial Results and Project Updates
- Regulatory Approval and Investment Decision: In February 2026, Denison received approval from the Canadian Nuclear Safety Commission for the Environmental Assessment and Construction License for the Phoenix uranium mine, marking the first large-scale uranium mining project to commence construction in over 20 years, enhancing the company's competitive position in the uranium market.
- Site Preparation and Early Works Progress: Following the Final Investment Decision, Denison mobilized teams to begin site preparation, completing tree clearing and civil works for the concrete batch plant, with full-scale construction expected to ramp up by the end of Q2 2026, aiming for first uranium production by mid-2028.
- Growing Uranium Sales Contracts: In Q1, Denison secured sales commitments for nearly 8 million pounds of U3O8 at an average price exceeding $99/lb, demonstrating the company's adaptability in a rising uranium price environment and the effectiveness of its sales strategy.
- Construction Management Contract Awarded: In February 2026, Denison awarded Wood Canada Limited the construction management contract for the Phoenix mine, ensuring project execution aligns with timelines and budgets, further solidifying the company's leadership in the uranium sector.
See More
Cosa Resources Plans Largest Drill Program at Murphy Lake North
- Drilling Program Scale: Cosa Resources is set to launch its largest drilling program at the Murphy Lake North project in summer 2026, with approximately 6,000 meters across 15 drill holes aimed at following up on uranium mineralization discovered in winter 2026, showcasing the company's strong exploration potential in the uranium market.
- Mineralization Follow-Up: The drilling will focus on the Cyclone mineralization, particularly multiple uranium intersections at a depth of 265 meters, with 600 meters of strike remaining open, indicating the potential for larger deposits and further enhancing Cosa's competitive position in the uranium sector.
- Funding Support: Denison Mines will participate in funding the 2026 exploration at Murphy Lake North to maintain its 30% interest, which not only provides financial backing for Cosa but also reflects Denison's confidence in the project, potentially fostering future collaboration and development.
- Strategic Significance: Cosa's management team has extensive experience in uranium exploration, having received the AME Colin Spence Award in 2022, indicating its recognition and influence in the industry, and the upcoming drilling plans will further solidify its leadership position in the uranium market.
See More
Foremost Clean Energy and Denison Mines Share Subscription Agreement
- Share Issuance Details: Foremost Clean Energy Ltd. will issue 137,590 common shares to Denison Mines at a price of $2.44 per share for a total of $335,719.60, increasing Denison's ownership stake in Foremost to approximately 15.8%.
- Use of Proceeds: The proceeds from this private placement will be utilized to advance exploration in Foremost's 330,000-acre Athabasca Basin uranium portfolio, particularly the flagship Hatchet Lake project, which recently reported 1.0% eU₃O₈ over 1.4 meters in drilling results.
- Shareholding Disclosure: Prior to this transaction, Denison held about 15.1% of Foremost's shares, and post-transaction, it will hold 2,600,000 shares, reflecting Denison's confidence in Foremost's prospects, with an early warning report to be filed to comply with securities regulations.
- Strategic Investment Context: Through its partnership with Denison, Foremost has the option to earn up to 70% interest in multiple uranium properties, indicating the company's strategy to capitalize on the growing nuclear energy market amid rising global demand for carbon-neutral energy solutions.
See More
Foremost Clean Energy Secures Share Subscription from Denison
- Share Issuance Details: Foremost Clean Energy will issue 137,590 common shares to Denison Mines at $2.44 per share for a total of $335,719.60, increasing Denison's ownership in Foremost from 15.1% to 15.8%.
- Use of Proceeds: The funds raised from this private placement will be directed towards advancing exploration in Foremost's 330,000-acre Athabasca Basin uranium portfolio, particularly the flagship Hatchet Lake project, which recently reported 1.0% eU₃O₈ over 1.4 meters, indicating strong mineral potential.
- Shareholding Changes Disclosure: Following the issuance, Denison will hold 2,600,000 common shares of Foremost and 607,600 warrants, representing approximately 17% of the issued and outstanding warrants, which will influence its future investment strategies.
- Investment Strategy Adjustment: Foremost intends to continuously evaluate its investment relationship with Denison and may decide to acquire or dispose of additional securities based on market conditions, leveraging its pre-emptive rights under the Investor Rights Agreement.
See More
Eagle Nuclear Initiates Environmental Baseline Studies
- Project Launch: Eagle Nuclear Energy Corp. announced on May 5, 2026, the initiation of environmental baseline studies at its flagship Aurora Uranium Project, preparing for a 27,000-foot drilling program set to commence in July 2026, indicating the company's proactive stance in uranium resource development.
- Resource Reserves: The Aurora Uranium Project hosts 32.75 million pounds of indicated uranium resources and 4.98 million pounds of inferred resources under the SK-1300 TRS reporting standard, highlighting its significant position in the U.S. uranium market.
- Drilling Program: The drilling program will be conducted by Harris Exploration Drilling & Associates Inc., utilizing 2 to 3 rigs to complete 47 holes over an estimated 3 to 4 months, aimed at addressing data gaps and advancing the Pre-Feasibility Study (PFS).
- Market Context: As of May 2026, spot uranium prices are approximately $86.55 per pound, a 24% increase year-over-year, reflecting the growing domestic demand for uranium development, which further propels Eagle Nuclear's strategic growth.
See More
Denison Mines Reports Q1 Earnings and Project Update
- Earnings Report: Denison Mines reported a Q1 GAAP EPS of -C$0.13, indicating a decline compared to the previous year, which may challenge investor confidence amid market volatility.
- Revenue Decline: The company generated revenue of C$1.11 million, down 19.6% year-over-year, reflecting poor sales performance against a backdrop of weak global uranium demand, potentially impacting future cash flow and operational plans.
- Project Advancement: Denison Mines has approved the final investment decision for the Phoenix uranium mine, with construction set to begin in March, a move that not only enhances the company's uranium production capacity but also lays the groundwork for future revenue growth.
- Historical Financial Data: Historical financial data for Denison Mines indicates that despite current challenges, the company's high-quality projects and execution capabilities in the uranium sector still provide potential upside for long-term growth.
See More
Denison Mines Reports Q1 2026 Financial Results and Project Updates
- Regulatory Approval and Investment Decision: In February 2026, Denison received approval from the Canadian Nuclear Safety Commission for the Environmental Assessment and Construction License for the Phoenix uranium mine, marking the first large-scale uranium mining project to commence construction in over 20 years, enhancing the company's competitive position in the uranium market.
- Site Preparation and Early Works Progress: Following the Final Investment Decision, Denison mobilized teams to begin site preparation, completing tree clearing and civil works for the concrete batch plant, with full-scale construction expected to ramp up by the end of Q2 2026, aiming for first uranium production by mid-2028.
- Growing Uranium Sales Contracts: In Q1, Denison secured sales commitments for nearly 8 million pounds of U3O8 at an average price exceeding $99/lb, demonstrating the company's adaptability in a rising uranium price environment and the effectiveness of its sales strategy.
- Construction Management Contract Awarded: In February 2026, Denison awarded Wood Canada Limited the construction management contract for the Phoenix mine, ensuring project execution aligns with timelines and budgets, further solidifying the company's leadership in the uranium sector.
See More
