NexGen Energy (TSX: NXE; NYSE: NXE; ASX: NXG) has raised $224 million to fund the continued development and further exploration of the company’s mineral properties, and for general corporate purposes.
The recent CHESS Depository Interests (CDIs) consisted of approximately 20.2 million shares priced at $11.11 per share, under an amended and reinstated placement agreement dated April 30, 2024, with lead manager and bookrunner in Australia, Aitken Mount Capital Partners.
NexGen’s mineral properties include the Rook I project, hosting the Arrow discovery made in 2014, in the Athabasca Basin in Saskatchewan. Arrow is considered to be the largest development-stage uranium deposit in Canada.
In March, NexGen found new greenfield uranium mineralization 3.5 km from its Arrow deposit. The new mineralization is located on a previously untested conductor segment of the Patterson Corridor East. The mineralization was intersected by drilling for 19.8 metres beginning at 347.7 metres, with the highest reading at over 61,000 counts per second (cps) over 3 metres.
The exploration target is predominantly open in all directions, including over 1.5 km along strike, the company said.
NexGen received environmental approval for the proposed Rook I mine in November 2023. Permitting for construction of the underground mill and mine is underway.
A 2021 feasibility study for Rook 1 outlined an initial 11-year mine capable of producing 29 million lb. of uranium oxide (U3O8) per annum during the first five years. Capex is estimated to be $1.3 billion.
Visit www.NexGenEnergy.ca to learn more.
November 4, 2024
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