$DNN

Cosa Resources Corp. (TSXV: COSA) (OTCQB: COSAF) (FSE: SSKU) has started a summer drilling program at its Darby uranium project, a joint venture with Denison Mines Corp. (TSX: DML) (NYSE American: DNN). The program will drill up to 2,500 metres, targeting the Gamma and Bravo trends. Darby is located near Cameco’s Cigar Lake Mine. Cosa holds a 70% interest, with Denison holding 30%.

Cosa Resources Corp. (TSXV: COSA) reported summer drilling results from its Murphy Lake North uranium project, a joint venture with Denison Mines Corp. (TSX: DML). All 13 drill holes intersected strong structure and/or alteration, with elevated radioactivity. The company has $16 million in treasury for future drilling. The project is located near IsoEnergy’s Hurricane Deposit in the Athabasca Basin.

Energy Fuels Inc (8.7%), Southern Cross Gold (8.5%), and Denison Mines (8.0%) led TSX gains, driven by uranium and mining sector momentum. Scotiabank also rose 6.9% after beating earnings expectations. Uranium stocks benefited from revenue growth forecasts and sector sentiment, while Scotiabank's gain was attributed to strong Q3 results.

Denison Mines (TSX:DML, NYSE American:DNN) filed Q2 2026 financial results and MD&A. It said Phoenix ISR site preparation began in March 2026, with over 20% of site civil work completed by end-July and key concrete and freeze-wall milestones on track. In Q2, it sold 750,000 lb U3O8 at $122.16/lb, generating $91.6m proceeds and a $64.1m, 233% gain.

Denison Mines (DNN) shares rose about 3% to around $3.07, supported by improving uranium market sentiment. The company said it moved Phoenix in-situ recovery uranium project in Saskatchewan from site preparation to full-scale construction, including freeze wall and power work. RBC initiated coverage with an Outperform rating and a C$6 target.

Denison Mines began full construction of its Phoenix uranium project in northern Saskatchewan, starting installation of the first perimeter freeze wall. Denison expects first production from Canada’s first commercial in-situ recovery mine in mid-2028. The $700 million project targets ~9 million lb U3O8/year at peak, with 56.7 million lb reserves. Denison shares fell 4.9% to C$3.91.

The article discusses Saskatchewan critical-minerals projects focused on uranium and lithium. Denison Mines’ Wheeler River (Phoenix ISR, Gryphon underground) targets mid-2028 production, with $700m investment and base-case after-tax NPV8% of $1.57b, IRR 73%. It also covers NexGen Energy’s Rook I Arrow approval and Paladin Energy’s Patterson Lake South takeover and permitting.

Denison Mines (TSX:DML, NYSE American:DNN) says Peter Ballantyne Cree Nation withdrew a Saskatchewan court judicial review tied to the Province’s Environmental Assessment approval for the Phoenix ISR uranium mine. Denison also reports PBCN has formally consented to and supports the Wheeler River Project. Wheeler River is a JV (Denison 90%, JCU 10%).

Cameco president Grant Isaac said utilities are increasingly pricing uranium in long-term contracts at triple-digit levels, with many modeling about $120 per pound (midpoint), according to remarks on the “Triangle Investor” podcast April 6. He said 70% of 2025 contracted volumes used three-digit pricing and 116 million pounds were contracted in 2025. Isaac cited structural undersupply and reallocations away from Western markets.

Cosa Resources Corp. (TSXV: COSA) upsized its bought-deal private placement to C$12.01 million gross proceeds, amending its agreement with Velocity Trade Capital Ltd. and adding Haywood Securities as co-lead underwriter. The offering includes Non-FT shares at C$0.60 and flow-through shares at C$0.70–C$0.99. Denison Mines, Cosa’s largest shareholder, will participate via pre-emptive/top-up rights.