NexGen is advancing talks with “numerous potential financing entities” together with industrial lenders, export credit score companies and various sources to safe financing for the challenge, the corporate mentioned within the assertion. The Vancouver-based agency mentioned it’s receiving curiosity in “vital” new sources of potential challenge financing.
NexGen is one in every of a number of companies racing to develop uranium tasks in Saskatchewan’s uranium-rich Athabasca area, which has turn into a hub of mining exercise because the world warms to nuclear energy.
Whereas uranium costs have rallied as provide issues escalate, solely a handful of firms truly function mines for the radioactive steel. Rook I, one of many greatest tasks, would account for about 13% of your entire world uranium provide, in line with Financial institution of Nova Scotia.
NexGen shares fell as a lot as 9.7% on Thursday in Toronto to a low of C$8.31, its greatest intraday decline since Might.
Uranium shares fell broadly following up to date steering from Kazakhstan’s Kazatomprom, the world’s high producer, that indicated it’s going to increase output of the nuclear reactor gas.
(By Jacob Lorinc)