Contact Careers Subscribe


Focused, experienced and growing

David Cates, President and CEO of Denison commented:

“Our strategy is ambitious and involves the advancement of our flagship Wheeler River project towards development and production – intending to claim the “pole position” as the next new uranium mine to be built in Canada. The project is already the largest undeveloped uranium project in the infrastructure rich Eastern portion of the Athabasca Basin, and with the market beginning to recognize that current uranium prices are both cyclically and irrationally low, we are delighted with the prospect of being able to showcase its economic potential”

Diversified Athabasca Basin Asset Base with Superior Development Leverage


  • 90% interest in flagship Wheeler River project – largest undeveloped uranium project in infrastructure rich eastern Athabasca Basin, with the potential to be a “top 5” producing mine
  • 22.5% interest in operating McClean Lake Uranium Mill – 6M lbs U3O8 excess licensed capacity, currently producing +12% of global uranium production
  • Additional leverage to the uranium price with interests in existing uranium resources at McClean Lake, Midwest, and Waterbury Lake
  • ~280,000 hectares of prospective exploration ground in the Athabasca Basin


  • Largest undeveloped uranium project in infrastructure rich eastern Athabasca Basin, including an estimated 132M lbs U3O8 in Indicated resources plus 3M lbs U3O8 in Inferred resources.
  • Low estimated operating costs, with lowest estimate of initial CAPEX required to build amongst Athabasca Basin development projects(1)
  • Existing infrastructure supporting mining operations in proximity to Wheeler River – including 4 licensed uranium mines, 3 licensed uranium mills, and access to the provincial power grid and highway network – reduces development risk profile

(1) Ranking is based on comparison of undeveloped uranium projects (at 100% ownership) with total indicated resources greater than 40M lbs U3O8, located in the Athabasca Basin region – namely Arrow (NexGen Energy Ltd.), Triple R (Fission Uranium Corp.), Millennium (Cameco, JCU), Shea Creek (Areva, UEX Corp.), Midwest (including the Midwest and Midwest A deposits)(Areva, Denison, OURD). CAPEX estimates are per NI 43-101 technical reports. Certain projects do not have NI 43-101 estimates of upfront capital costs.

Share Capital

as of May 31, 2020
805,429,682shares outstanding
12,536,995stock options
881,174,407shares fully diluted


Analyst Coverage

Alexander PearceBMO Capital Markets
Katie LachapelleCanaccord Genuity
Mike KozakCantor Fitzgerald
Nicolas DionCormark Securities
Colin HealeyHaywood Securities
Craig HutchisonTD Securities
Brian McArthurRaymond James
David DavidsonParadigm Capital

"“We continue to expect the next key catalyst for the company will be the completion of its Wheeler River PFS.”

Craig Hutchison, TD Securities"

Please note that any opinions, estimates or forecasts regarding the performance of Denison Mines made by these analysts are theirs alone and do not represent the opinions, estimates or forecasts of Denison Mines or its management. Denison Mines does not by its reference above or distribution imply that it analyzes or approves of such information, conclusions or recommendations.

© 2022 Denison Mines Corp.
All rights reserved.

Subscribe to our Email List