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NexGen's Rook I EIS progresses

NexGen’s draft Environmental Impact Statement for its Rook I uranium project in Saskatchewan has been accepted by the Canadian Nuclear Safety Commission, which triggers a 90-day Federal EIS technical and public review phase.
NexGen's Rook I EIS progresses NexGen's Rook I EIS progresses NexGen's Rook I EIS progresses NexGen's Rook I EIS progresses NexGen's Rook I EIS progresses

NexGen Energy's Rook I project

"In our view, this is a major permitting milestone which focuses on the ESG aspect of project development. It included indigenous and community engagement, incorporated best environmental practices, and was transparent in engaging with regulators and governments," Red Cloud Securities said.

"Rook 1 is one of the largest development stage uranium projects in Canada," it added.

A 2021 feasibility study on the project viewed a 1,300 tonnes per day operation, with an average annual production for years 1-5 of 28.8 million pounds U3O8 and a life of mine of 10.7 years.

With total pre-production capital costs expected at C$1,300 million (US$1,003), the study viewed an after-tax NPV8% of C$3.47 billion and after-tax IRR of 52.4%.

"Other near-term catalysts for the stock include 1) completion of the Front-End Engineering Design (FEED) stage of the project, and 2) commence detailed engineering in H2/22," Red Could noted.

NexGen's share price on July 18 was C$4.91. The company had a market capitalization of C$2.35 billion.