The Peter Ballantyne Cree Nation has filed a judicial review in the Saskatchewan Court of King’s Bench, challenging the provincial ministerial approval of Denison Mines’ Wheeler River uranium project.
The review seeks to set aside the approval granted under the Environmental Assessment Act, alleging that the Saskatchewan government breached its duty to consult. The Nation claims the consultation was inadequate, providing only six weeks to comment on the Environmental Impact Statement after Denison completed it, and that the Environmental Assessment and Stewardship Branch did not formally acknowledge its duty to consult until November 2024, despite concerns raised in 2022.
Denison Mines maintains that it has engaged extensively with the Nation since March 2023, offering the Nation an opportunity to review the draft Environmental Impact Statement in November 2022 and recently executing an environmental monitoring and capacity agreement. The company believes the government complied with consultation requirements.
Wheeler River is Denison’s flagship project, hosting the high‑grade Phoenix and Gryphon deposits. The project received provincial environmental assessment approval in July 2025 and is awaiting federal approval and a Canadian Nuclear Safety Commission hearing scheduled for fall 2025. The project’s in‑situ recovery (ISR) mining method for Phoenix is considered a low‑cost approach that could make it competitive with existing global uranium operations.
The judicial review could delay construction and increase costs, adding regulatory risk to the project’s development timeline. If the review is successful, it could postpone the anticipated federal approval and the start of construction, potentially affecting Denison’s projected cash flow and the timing of bringing the project online.
Denison’s market capitalization stands at approximately $2.6 billion, with a current ratio of 3.94. The company has reported a 104 % return on its stock over the past six months, but analysts note ongoing profitability and cash flow challenges.
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