The Prospector News

NexGen Announces First Uranium Sales Contracts for 5 Million Pounds with Major US Utilities

You have opened a direct link to the current edition PDF

Open PDF Close
Uncategorized

Share this news article

NexGen Announces First Uranium Sales Contracts for 5 Million Pounds with Major US Utilities

NexGen Energy Ltd. (TSX: NXE) (NYSE: NXE) (ASX: NXG) is pleased to announce it has been awarded the first uranium sales agreements with multiple leading US nuclear utility companies.

These inaugural awards all incorporate market-related pricing mechanisms at the time of delivery. They reflect NexGen’s long stated focus of maximizing leverage to future uranium prices and the Company’s positioning as a new reliable Western World source of nuclear fuel incorporating the highest standards of technical, environmental and social inclusion from the tier one jurisdiction of Saskatchewan Canada.

The table below sets out the aggregate delivery quantities of uranium contemplated in the sales agreements, together with the expected gross sales revenue based on various assumed spot prices:

Realised Weighted Volume Average Price Realised Table (excludes escalation):
1M lbs U3O8 per annum

Uranium Price

($/lbs. U3O8)

2029 2030 2031 2032 2033
$80 $79 $79 $79 $79 $79
$100 $99 $99 $99 $99 $99
$150 $141 $141 $141 $141 $141
$175 $150 $150 $150 $150 $150

*excludes ancillary commissions and costs of delivery

Uncommitted pounds of Probable Mineral Reserves remaining (as per NI 43-101 Rook I Project Feasibility Study): 231,660,000 lbs U3O8

Leigh Curyer, Chief Executive Officer, commented: “These offtake awards with premier US utilities represents a pivotal moment for NexGen. They underscore the premier quality and scalability of the Rook I Project, whilst offering diversification of supply from existing centralised sources. Further, the terms of these awards reflect market related pricing mechanisms at the time of delivery reflecting NexGen’s long-term stated strategy of optimizing the value of each pound produced.

Energy demand from reliable sources is increasing by the week with the need to expand existing nuclear energy infrastructure and the construction of power consuming data centres at a time the security of uranium supply is under significant technical and sovereign risk.

The contract awards are in parallel to ongoing discussions and negotiations with additional US, European and Asian utilities, which further complement NexGen’s strong financial position and construction-ready status at Rook I. The Project is poised to become one of the largest and most environmentally sustainable uranium operations globally. This milestone is another reflection of NexGen’s ability to execute on its strategic vision in advancing its position as a global leader in the nuclear fuel supply chain.”

About NexGen

NexGen Energy is a Canadian company focused on delivering clean energy fuel for the future.  The Company’s flagship Rook I Project is being optimally developed into the largest low cost producing uranium mine globally, incorporating the most elite standards in environmental and social governance. The Rook I Project is supported by a NI 43-101 compliant Feasibility Study which outlines the elite environmental performance and industry leading economics. NexGen is led by a team of experienced uranium and mining industry professionals with expertise across the entire mining life cycle, including exploration, financing, project engineering and construction, operations and closure.  NexGen is leveraging its proven experience to deliver a Project that leads the entire mining industry socially, technically and environmentally.  The Project and prospective portfolio in northern Saskatchewan will provide generational long-term economic, environmental, and social benefits for Saskatchewan, Canada, and the world.

NexGen is listed on the Toronto Stock Exchange, the New York Stock Exchange under the ticker symbol “NXE” and on the Australian Securities Exchange under the ticker symbol “NXG” providing access to global investors to participate in NexGen’s mission of solving three major global challenges in decarbonization, energy security and access to power.  The Company is headquartered in Vancouver, British Columbia, with its primary operations office in Saskatoon, Saskatchewan.

Posted December 4, 2024

Share this news article

MORE or "UNCATEGORIZED"


Great Pacific Gold Announces Closing of Upsized $16.9 Million Private Placement Financing Led by Canaccord Genuity Corp

Great Pacific Gold Corp. (TSX-V: GPAC) (OTCQX: FSXLF) (FSE: V3H)... READ MORE

July 3, 2025

Ridgeline Minerals Provides Assay Results and Drill Program Updates for the Big Blue and Atlas Projects

Big Blue highlights: 0.6 meters grading 0.7% Cu, 3,194 g/t Ag and... READ MORE

July 3, 2025

Goldshore Intersects 42.7m of 1.09 g/t Au at the Eastern QES Zone of the Moss Deposit

Goldshore Resources Inc. (TSX-V: GSHR) (OTCQB: GSHRF) (FSE: 8X00)... READ MORE

July 3, 2025

Dios Sells K2 to Azimut

Dios Exploration Inc. (TSX-V: DOS) is pleased to report it has e... READ MORE

July 3, 2025

Northisle Announces Near Surface Intercepts and Higher-Grade Intercepts at Depth at West Goodspeed on its North Island Project

Highlights: Recent drilling at West Goodspeed supports the presen... READ MORE

July 3, 2025

Copyright 2025 The Prospector News