NexGen Energy Ltd. reports developments in uranium project development, exploration drilling and regulatory approvals for its Saskatchewan asset base. The company is focused on its 100% owned Rook I Project in the Athabasca Basin and on exploration activity at Patterson Corridor East, a discovery located near the Arrow Deposit.
Recurring news includes assay results and high-grade mineralization updates, Rook I permitting and construction preparation, financing and conference-call materials, and community or Indigenous partnership initiatives tied to regional project development.
NexGen Energy Ltd. has engaged a syndicate of underwriters, led by BMO Capital Markets and Canaccord Genuity Corp., to purchase 33,400,000 common shares at C$4.50 each, totaling approximately C$150 million. The offering, expected to close around March 11, 2021, includes a 30-day option for an additional 5,010,000 shares. Proceeds will fund corporate needs, including the Rook I Project development. Shares will be offered via a short-form prospectus across Canada and the U.S., pending regulatory approvals.
NexGen Energy Ltd. announced positive results from an independent Feasibility Study on its Arrow Deposit in the Athabasca Basin, Saskatchewan. The study reveals an after-tax NPV of $3.47 billion, an after-tax IRR of 52.4%, and a rapid payback period of 0.9 years. The average annual production is forecasted at 28.8 million lbs of U3O8 in the first five years. The total pre-production capital cost is estimated at $1.3 billion CAD. The Feasibility Study reflects NexGen's commitment to environmental standards and positions the company as a leader in clean energy production.
NexGen Energy Ltd. (TSX: NXE, NYSE: NXE) announced that holders of US$120 million in convertible debentures have opted to convert these into common shares. This conversion includes US$60 million from 2016 and US$60 million from 2017 debentures. Post-conversion, CEF Holdings’ ownership will increase from 8.7% to approximately 18.7%. The company has around $55 million in cash and is finalizing the Rook I Feasibility Study, with results expected soon.