Why Did Denison Mines, Energy Fuels, and Uranium Energy All Rise by at Least 10% Today?

Why Did Denison Mines, Energy Fuels, and Uranium Energy All Rise by at Least 10% Today?

What happened

Shares of Denison Mines ( NYSEMKT:DNN ), which is developing a uranium mine in Canada, saw its shares jump roughly 10.5% by 1:30 p.m. EST. Also heading higher were Energy Fuels ( NYSEMKT:UUUU ) and Uranium Energy ( NYSEMKT:UEC ), up 12% and 10%, respectively, at their peaks. Industry giant Cameco ( NYSE:CCJ ) also got in on the act, but to a lesser degree, rising by around 6% at its highest point. So what

There’s really not a whole lot going on here, with the only material news being an update from Denison on its mine development plans. The company, which owns 90% of the Wheeler River uranium mine project, approved a $24 million budget as it looks to restart the environmental assessment process. Denison’s piece of the total cost is $19.4 million. This is an interesting update on Denison’s Wheeler River dig and might explain […]

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