Wednesday, August 27, 2025

NexGen Energy Signs 5 Million Pound Uranium Offtake Deal With Major Utility

NexGen Energy (TSX: NXE) appears to be confident that they will receive federal permitting approval in the coming months, with the company this morning announcing that they have doubled their contracted sales volume in advance of placing the Rook I project into operation.

The company has managed to secure a new uranium offtake contract with what is said to be a major US based utility. The offtake will see the delivery of one million pounds of uranium per year over a five year period. Delivery is expected to begin in the first year of commercial production of the Rook I project.

“NexGen’s stated strategy simply optimizes the value and return on each pound produced. It reflects Rook I’s relative technical simplicity and high production volume certainty, which provides our utility clients confidence in the delivery of their future fuel requirements. At the same time, it provides NexGen shareholders unprecedented industry leading leverage to prices at the time of those deliveries. The team is managing a substantial increase in offtake activity and negotiation, reflecting NexGen as a future cornerstone of the global nuclear energy market,” commented Leigh Curyer, CEO of NexGen Energy.

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

Pricing on the contracted 5 million pounds of uranium was not provided, however the contract is said to contain “market-related pricing mechanisms at the time of delivery.”

NexGen has now contracted more than 10 million pounds of future uranium production, following an inaugural 5 million pound contract that was signed with US utilities in December. The Arrow Deposit at Rook I current has 229.6 million pounds of uncontracted material.

NexGen Energy last traded at $9.56 on the TSX.


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

Leave a Reply

Video Articles

Goliath Resources Hits 10.60 g/t Gold Over 22.82 Metres, Highest Grade Results In Third Distinct Rock Package At Surebet Discovery

Four Countries Control the Fertilizer That Feeds the World | Sage Potash

$10,000 Gold Is Just A Question of Time | Florian Grummes

Recommended

Nord Precious Metals Identifies 29 Veins At Castle East Following 3D Modeling

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

Related News

NexGen Energy Sees CNSC Accept Final Environmental Impact Statement

NexGen Energy (TSX: NXE) has seen a positive development in the advancement of its Rook...

Wednesday, January 29, 2025, 12:51:56 PM

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...

Wednesday, December 4, 2024, 08:12:37 AM

NexGen Receives Commission Hearing Dates For Rook I, While Local Indigenous Groups Issue Complaint Over Endless Delays From Feds

NexGen Energy (TSX: NXE) is one step closer to obtaining all the permits required for...

Wednesday, March 12, 2025, 08:42:14 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

Forum Energy Options Off Interest In Northwest Athabasca Project To New Issue Global Uranium

Forum Energy (TSXV: FMC) has optioned off part of its interest in a joint venture...

Thursday, May 30, 2024, 09:15:58 AM