Mentioned:
One of the largest publicly traded uranium companies in Canada has just cut a new deal for uranium supply. And it might just be the first of many.
What’s happening:
- NexGen Energy (NYSE: NXE) has announced their first ever purchase agreement for uranium supply with major utility companies located in the United States of America
By the numbers:
- NexGen Energy’s new purchase agreements are for a total of 5M pounds of uranium over 5 years
- The price of uranium will be sold between $79-$150 USD per pound, depending on fluctuations in the spot uranium markets
Why it matters:
- Large scale nuclear power deals continue to ramp up with technology companies globally, which will all require significant amounts of new uranium supply in order to produce nuclear fuel
Going deeper:
- NexGen Energy’s flagship Rook I project located in the Athabasca Basin will be the source of supply for the new purchase agreements
The intrigue:
- Canadian based uranium supply has been continuing to come into focus, including a very notable new major discovery in Nunavut from ATHA Energy (TSXV: SASK)
