Nexgen Energy Stock Price, News & Analysis

NexGen Energy has completed its 2024 drilling campaign at Patterson Corridor East (PCE), with exceptional results from hole RK-24-222 showing a 17.0m wide vein with multiple high-intensity uranium mineralization. The campaign covered 34,000 meters across 46 drillholes, with 19 of 30 holes intersecting mineralization. The mineralized zone has expanded to 600m strike length and 600m vertical extent. A high-grade sub-domain now covers 100m of strike and 170m depth. The PCE discovery is located 3.5km east of the Arrow deposit, with assays expected in Q4 2024 and Q1 2025.

NexGen Energy (TSX: NXE) (NYSE: NXE) (ASX: NXG) has announced its Q3 2024 conference call scheduled for November 12, 2024, at 8:30 am EST. The company's executives will provide updates on the Rook I Project, including approval process status, project development, and recent exploration achievements at Patterson Corridor East. The call will also cover marketing negotiations, financing activities, and market analysis. Q3 2024 Financial Statements and Management Discussion & Analysis will be released on November 8th before market open.

NexGen Energy announced significant expansions in the mineralized zone at Patterson Corridor East (PCE) as part of their Summer Drill Program initiated on May 21, 2024. Eight out of twelve drill holes intersected mineralization. The zone spans 540 m along strike and 600 m vertically, featuring high-grade uranium mineralization with intervals open at depth and along strike.

The standout drill hole, RK-24-207, showcased massive replacement by uraninite, confirming a robust mineralized system. To date, four drill holes identified high-grade uranium mineralization (>61,000 cps), including RK-24-183, -197, -202, and -207. NexGen's CEO, Leigh Curyer, emphasized the geological similarities between PCE and the prolific Arrow Deposit, underlining PCE's potential.

The summer program has drilled 10,045.5 m of the planned 22,000 m. Assay results are expected in Q4 2024. The focus remains on testing the system's extent and identifying high-grade zones. The mineralization is hosted in silicified orthogneiss, a favorable setting for underground mining.

NexGen Energy (TSX: NXE) (NYSE: NXE) (ASX: NXG) has announced its 2024 second quarter conference call, scheduled for Thursday, August 8, 2024, at 8:30 am Eastern Standard Time. The call will feature updates on the company's 100% owned Rook I Project, covering key aspects such as:

• Federal permitting
• Project development and procurement
• Updated economics
• Exploration at Patterson Corridor East
• Treasury status
• Current market dynamics
• Marketing strategy

The company will file its Q2 2024 Financial Statements and Management Discussion & Analysis on August 7th post-market. These documents will be available on NexGen's website and SEDAR+.

NexGen Energy (TSX: NXE) (NYSE: NXE) (ASX: NXG) has updated the economics for its 100%-owned Rook I Project. Key highlights include:

• Revised capital cost: C$2.2 billion / USD$1.58 billion
• Average annual after-tax net cash flow (Years 1-5): C$1.93 billion (at US$95/lb U3O8)
• Consistent mine life and production capability up to 30 million pounds U3O8 annually
• Minimal closure cost of C$70 million due to reclamation during operations

The project incorporates progressive reclamation of the tailings management facility, totaling approximately $900 million over the life of mine. At US$95/lb U3O8, the project has an after-tax NPV (8% discount) of C$6.3 billion and a payback period of about 12 months.

NexGen has advanced through the Canadian Nuclear Safety Commission's (CNSC) 30-day completeness check for the Rook I Project's Federal Environmental Impact Statement (EIS). The CNSC commenced its 60-day technical review on June 21, 2024, and upon resolving all technical comments, will establish a Federal Commission Hearing date. This marks a significant step in NexGen's Federal Environmental Assessment process, initiated in April 2019. With provincial approvals secured in 2023 and strong support from stakeholders and Indigenous Nations, NexGen is poised to begin major construction following final approvals. Detailed engineering and local training programs are ongoing to support the project, which aligns with Canada's clean energy goals.

NexGen Energy has appointed Susannah Pierce to its Board of Directors following its 2024 Annual General Meeting on June 17. Pierce brings over 20 years of experience in fostering collaboration among businesses, governments, and communities for major capital projects. Currently the President and Country Chair of Shell Canada, she has also held significant roles at LNG Canada and served on various business councils and boards. NexGen's Chairman, Christopher McFadden, highlighted that Pierce's expertise in the energy sector and international relations will be important as NexGen moves forward with its Rook I Project, aiming to become a leading global uranium producer, potentially accounting for over 25% of global uranium production.

On June 17, 2024, NexGen Energy announced the results of its annual general meeting. Approximately 68.67% of the company's outstanding shares were voted. Shareholders approved all proposed matters, including the reappointment of KPMG LLP as auditors (99.63% in favor) and setting the number of directors at ten (94.03% in favor). Directors elected included Leigh Curyer, Christopher McFadden, Richard Patricio, Trevor Thiele, Warren Gilman, Sybil Veenman, Karri Howlett, Brad Wall, Ivan Mullany, and Susannah Pierce.

NexGen Energy announced the discovery of additional mineralization at Patterson Corridor East (PCE). Drill hole RK-24-193 intersected mineralization over 67.5 meters, including a peak of 7500 cps over 1.5 meters. Assays from RK-24-183 confirmed high-grade uranium with intersections totaling 13.5 meters at 0.78% U3O8, including significant intervals at 10% and 6.23% U3O8. These results suggest a potential strike length of 275 meters. The summer exploration program has been expanded to 22,000 meters with four drill rigs. CEO Leigh Curyer highlighted similarities between PCE and early Arrow discoveries. The company is also advancing the Federal Environmental Assessment for the Rook I Project.