Friday, August 22, 2025

NexGen Contracts Out First 5 Million Pounds Of Uranium From Rook I

NexGen Energy (TSX: NXE) has entered into its first sales contracts for uranium that is set to be produced at its Rook I project in the Athabasca Basin of Saskatchewan. The first deliveries, under the current contracts, are set to occur in 2029.

A total of five million pounds of U3O8 has been contracted out via sales agreements with multiple US nuclear utility companies. The contracts are said to contain market-pricing related mechanisms at the time of delivery, with deliveries spread out over five years, and averaging one million pounds of U3O8 per year.

A total of 231.7 million pounds of U3O8 contained within probable mineral reserves remains uncontracted. Discussions are said to be ongoing with additional US-based utilities, along with utilities based in Europe and Asia.

READ: NexGen Energy Completes Federal Technical Review For Rook I Project

“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,” commented Leigh Curyer, CEO of NexGen.

NexGen last traded at $11.44 on the TSX.


Information for this story was found via the sources and companies mentioned. The author has no securities or affiliations related to the organizations discussed. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

A Medical Breakthrough the Market Overlooked | David Elsley – Cardiol Therapeutics

Why Grade Beats Size in Silver Mining | Frank Basa – Nord Precious Metals

Are Investors Missing the Start of the Next Commodity Supercycle? | Morgan Lekstrom – NexMetals

Recommended

Emerita Resources Expands El Cura Drill Program By 10,000 Metres As Deposit Remains Open For Expansion

ESGold Signs MOU For Tailings Project In Colombia With Grades Up To 42 g/t Gold, 280 g/t Silver

Related News

NexGen Energy Makes New High Grade Discovery At Rook I Project

NexGen Energy (TSX: NXE) has made a new discovery at its Rook I property in...

Monday, March 24, 2025, 08:09:41 AM

NexGen Begins 43,000 Metre Drill Program Focused On 2024 Discovery

NexGen Energy (TSX: NXE) has begun an extensive exploration campaign within the Athabasca Basin. The...

Thursday, January 30, 2025, 07:59:35 AM

Opinion: Mark Carney Should Focus Fast Tracking Efforts On The Nuclear Supply Chain

Canada right now is caught up in a wave of nationalism.  That wave follows actions...

Wednesday, July 30, 2025, 02:27:43 PM

NexGen Receives Provincial Environmental Approval For Rook 1 Project

Saskatchewan is open for business. NexGen Energy (TSX: NXE) this morning indicated that the province...

Thursday, November 9, 2023, 09:46:11 AM

NexGen Energy Makes New Discovery, Intersecting 19.8 Metres Of Uranium Mineralization

NexGen Energy (TSX: NXE) has made a new discovery following continued exploration of its properties....

Monday, March 11, 2024, 08:30:07 AM