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energy|project|resources

Strong lender support for Saskatchewan uranium project - NexGen

2nd May 2023

By: Mariaan Webb

Creamer Media Senior Deputy Editor Online

     

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Toronto- and New York-listed NexGen Energy has received “strong support” for the Rook I uranium project, with financing expressions of interest totalling more than $1-billion, reports CEO Leigh Curyer.

The company believes that the progress of project financing discussions with external parties validates the high-quality nature of Rook I, which is a low-cost operation in Saskatchewan.

“The receipt of these expressions of interest is a clear de-risking step demonstrating lender confidence in the economics of the Rook I project, the uranium market fundamentals incorporating the project and the elite ESG manner NexGen is delivering in the development of the project,” says Curyer.

NexGen aims to finalise the agreements in the fourth quarter of this year.

The feasibility study for Rook I indicates that an initial capital expenditure of C$1.3-billion will be needed to build a mine producing an average of 21.7-million pounds a year over a 10.7-year mine life.

Rook I hosts the Arrow deposit that hosts measured mineral resources of 209.6-million pounds of U3O8 contained in 2.18-million tonnes grading 4.35% U3O8, indicated mineral resources of 47.1-million pounds of U3O8 contained in 1.57-million tonnes, grading 1.36% U3O8, and inferred mineral resources of 80.7-million pounds, contained in 4.40-million tonnes grading 0.83% U3O8

Edited by Creamer Media Reporter

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