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Denison Mines is raising over $55 million to help advance its proposed Phoenix in-situ recovery uranium mining operation in Saskatchewan.
The underwriters also have an over-allotment option to purchase up to an additional 5.55 million shares at the issue price until October 16, 2023, for potential additional proceeds of $8.27 million. The Phoenix uranium deposit is part of Denison’s 95% owned Wheeler River project situated in the Athabasca Basin. Uranium Energy Corp. owns the remaining 5%.
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