Denison Mines Corp. filed its Condensed Consolidated Financial Statements and Management's Discussion & Analysis for the first quarter ended March 31, 2025. The company reported a net loss of CA$43.5 million for the quarter, widening from a CA$0.022 loss per share in Q1 2024.
The Phoenix In-Situ Recovery (ISR) project continued to advance, with approximately 75% of total engineering completed by the end of Q1 2025. Denison has funded over $7 million and committed a further $67 million for long-lead capital purchases, maintaining its target of first production by mid-2028.
Site preparation activities recommenced at McClean North in preparation for the 2025 SABRE mining program, with mining expected to commence in the coming months. Exploration efforts through joint ventures also yielded positive results, including a 2-kilometer strike extension of the Hurricane Trend at Murphy Lake North and a new discovery of uranium mineralization at Hatchet Lake.
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