12:08 PM EDT, 03/14/2025 (MT Newswires) -- (Updates shares.)

Denison Mines ( DNN ) late on Thursday reported it swung to a loss in the fourth quarter even as revenue rose.

The company's loss from continuing operations was $29.5 million, or $0.03 per share, down from a year-prior profit of $34.6 million, or $0.04.

Revenue from continuing operations came in at $1.2 million, up from $1.1 million.

The company said it advanced the regulatory approvals process for its Phoenix in-situ uranium project in northern Saskatchewan. The Canadian Nuclear Safety Commission has scheduled a two-part public hearing for the project in late 2025.

This development could lead to project approvals and start of construction in early 2026 and for first production to be achieved by the first half of 2028.

"The Denison team was active across all aspects of our business in 2024, and owing to several important achievements during the year, we are well-positioned to execute on our objective to build and operate the next new large-scale uranium mine in northern Saskatchewan," said Denison President and CEO David Cates.

The company achieved about 65% completion of total engineering by the end of 2024.

Denison shares were last seen up $0.02 to $2.03 on the Toronto Stock Exchange.

Price: 2.03, Change: +0.02, Percent Change: +1.00