Mentioned:
There’s a massive new uranium supply deal in the public markets. And NexGen Energy is behind it.
What’s happening:
- NexGen Energy (NYSE: NXE) has landed a new uranium supply deal with a utility company to provide them with 1 million pounds of uranium annually for five years
By the numbers:
- The new deal doubles NexGen Energy’s total contracted volume to 10 million pounds of uranium
Why it matters:
- This is one of the single largest contracts NexGen Energy has ever struck with a major utility company in the United States
Going deeper:
- NexGen Energy’s flagship Rook I property located in the Athabasca Basin in Saskatchewan is the largest development stage uranium project in all of Canada and is widely expected to become the lowest cost producing uranium mine in the entire world
- The Arrow Deposit within the Rook I property contains more than 220 million pounds of uranium reserves which NexGen Energy is looking to leverage for future supply and offtake deals
