NextGen raises $110m for Rook I uranium project
Canadian junior NexGen Energy has announced $110-million of financing for the Rook I uranium mine and mill development project in Saskatchewan.
The company has entered binding term sheets with Queen's Road Capital Investment (QRC) and Washington H Soul Pattinson and Company (WHSP) for a private placement of unsecured convertible debentures.
The debentures will be convertible at the holder's option into about 16.27-million common shares of NexGen.
In addition, WHSP has agreed to purchase 8.7-million outstanding common shares of NexGen from QRC, enabling QRC to partially fund its purchase of debentures.
“Today's $110-million financing from two highly respected investors, our long-standing investor in QRC and, the addition of WHSP in Australia, optimally places NexGen to deliver on its stated objectives in the development of the Rook I project,” commented CEO Leigh Curyer.
NexGen recently received confirmation of the completion of the provincial environmental assessment technical review and submission of the final provincial environmental impact statement to the Saskatchewan Ministry of Environment.
Curyer reports that permitted pre-construction site works are well advanced.
The 2021 feasibility study outlines an 11-year mine capable of producing 29-million pounds a year of uranium oxide in the first five years, making it the biggest uranium mine in the world.
The total capital expenditure for the mine would be $1.3-billion, of which $157-million is allocated for early works and $1.14-milion for preproduction execution capital.
Comments
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation