NexGen Energy (TSX: NXE) has reached a major milestone in the development of Rook I Project in the Athabasca Basin of Saskatchewan. The company this morning indicated it has completed the final federal technical review for the project, after having successfully responded to all information requests related to the review.
With the technical review now complete, NexGen is now eligible to schedule a federal commission hearing date, which will lead to a federal project approval decision. If approved, the company will have passed the final major approval step, with the result being the granting of the federal environmental assessment.
The approval is the final requirement for the company in terms of permits to proceed with the development of Rook I, after having received provincial approval in November 2023, and the Canadian Nuclear Safety Commission stating that the federal license application was sufficient back in September 2023.
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The company initially began applying for permits for Rook 1 in 2019.
“This exciting outcome is a testament to the exceptional efforts of our entire NexGen team, the collaborative support of our valued Indigenous Nation partners, and our transparent approach with the CNSC to ensure a robust and thorough review that meets the highest standards of environmental protection for the sustainable development of the Rook I Project. [..] With over $800 million in cash and liquid assets, we are ready pending a positive Commission decision with all activities required to immediately commence major site works in place,” commented NexGen CEO Leigh Curyer on the development.
NexGen Energy last traded at $11.11 on the TSX.
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