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NexGen Energy .(NXE) - 2024 Q1 - Earnings Call Transcript
2024-05-14 16:30
Financial Data and Key Metrics Changes - The company reported cash and liquid assets of approximately $930 million, which is crucial for the construction of the Rook I project [3][10][42] - The market capitalization reached an all-time high of $12.14 per share, reflecting strong performance relative to peers [12] - The company has raised approximately $540 million with minimal discounts to market, showcasing strong financial health [157] Business Line Data and Key Metrics Changes - The company has successfully executed a $224 million placement to ASX investors, enhancing its cash position [10] - A significant purchase of 2.7 million pounds of uranium was made at $92.50 per pound, which is expected to strengthen contract negotiations with utilities [7][153] Market Data and Key Metrics Changes - The uranium spot price reached new 15-year highs at $107 per pound, indicating a tightening market due to geopolitical risks and supply challenges [138][141] - The recent ban on Russian uranium imports is expected to create upward pressure on uranium prices and alter supply dynamics significantly [141] Company Strategy and Development Direction - The company is focused on advancing the Rook I project into construction and production, with federal permitting in the final stages [14][145] - There is a strategic emphasis on securing long-term contracts with utilities for uranium supply, particularly for 2028 and beyond [152] - The company aims to leverage its position as a reliable supplier in a market characterized by fragility and declining inventories [5][141] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the nuclear energy sector's growth, driven by increasing global demand for clean energy sources [4][136] - The company is well-positioned to capitalize on the evolving uranium market, with a focus on operational excellence and community engagement [14][140] - Management highlighted the importance of securing financing and contracts ahead of federal approval to ensure project viability [53][110] Other Important Information - The company has a diverse workforce, with a gender ratio of 66% male and 34% female, exceeding the Canadian mining average [13] - The company has received full support from local indigenous communities, which is crucial for the project's success [146] Q&A Session Summary Question: Timeline for public hearing after EIS submission - Management indicated that after submitting the EIS, the CNSC has 90 days to review the remaining comments before establishing a commission hearing date [15][16][17] Question: Size and hiring of the technical team for Rook I - The current technical team consists of about 76 people, and management is confident in their ability to hire additional skilled labor quickly [20][24][25] Question: Strategy behind uranium purchases and contract negotiations - Management clarified that the recent uranium purchase aligns with their development stage and is intended to provide security of supply for utilities [27][28][30] Question: Impact of inflation on project costs - Management noted that inflation has increased estimated costs by approximately $320 million, primarily due to labor wages [39][40] Question: Future equity raises and capital requirements - Management stated that the current cash balance and debt expressions of interest are sufficient to fund the Rook I project through to production [81][82]
NexGen Closes C$224 Million CDI Offering in Australia
Prnewswire· 2024-05-14 07:01
VANCOUVER, BC, May 14, 2024 /PRNewswire/ - NexGen Energy Ltd. ("NexGen" or the "Company") (TSX: NXE) (NYSE: NXE) (ASX: NXG) is pleased to announce that the Company has closed its previously announced offering (the "Offering") of 20,161,290 common shares, settled in the form of CHESS Depository Interests ("CDIs"), at a price of C$11.11 per share (based on the daily average exchange rate of A$1.00 = C$0.8963 published the Bank of Canada on April 29, 2024), under an amended and restated placement agreement dat ...
NexGen Energy to Host Q1 2024 Conference Call on Rook I Project Developments
Prnewswire· 2024-05-09 10:30
VANCOUVER, BC, May 9, 2024 /PRNewswire/ - NexGen Energy Ltd. ("NexGen" or the "Company") (TSX: NXE) (NYSE: NXE) (ASX: NXG) is pleased to announce the Company will host its 2024 first quarter conference call on Tuesday, May 14, 2024, at 8:30 am Eastern Standard Time. During the call, NexGen's President and Chief Executive Officer, Leigh Curyer, Chief Commercial Officer, Travis McPherson, and Chief Financial Officer, Benjamin Salter will provide an update on the Company's 100% owned Rook I Project (the "Proje ...
NexGen Files Management Information Circular in Connection with Annual General Meeting of Shareholders
Prnewswire· 2024-05-08 20:59
VANCOUVER, BC, May 8, 2024 /PRNewswire/ - NexGen Energy Ltd. ("NexGen" or the "Company") (TSX: NXE) (NYSE MKT: NXE) (ASX: NXG) is pleased to announce it has mailed a Notice of Meeting and Management Information Circular to shareholders of record as of May 1 2024 in connection with the Annual General Meeting of the Company to be held on  Monday, June 17, 2024, at 2:00 p.m. (Pacific Time) Your vote is important - please vote today. NexGen encourages shareholders to read the meeting materials, which have been ...
NexGen Energy .(NXE) - 2024 Q1 - Quarterly Report
2024-05-08 20:49
Exhibit 99.1 MESSAGE FROM THE CHAIR OF THE BOARD CHRIS MCFADDEN Dear Valued Shareholders, You are invited to attend the Annual General Meeting of Shareholders (the "Meeting") of NexGen Energy Ltd. ("NexGen" or the "Company"), which will be held on June 17, 2024, at 2:00 p.m. (Pacific Time) at the offices of NexGen located at 1021 West Hastings Street, Suite 3150, Vancouver, British Columbia. I, as a fellow shareholder, am pleased to report that NexGen made significant strides in 2023, through advancing NexG ...
NexGen Announces Strategic Purchase of 2.7 Million Pounds of Uranium with Issuance of US$250 Million Convertible Debenture
Prnewswire· 2024-05-08 10:30
VANCOUVER, BC, May 8, 2024 /PRNewswire/ - NexGen Energy Ltd. ("NexGen" or the "Company") (TSX: NXE) (NYSE: NXE) (ASX: NXG) is pleased to announce that it has entered into a binding term sheet with MMCap International Inc. SPC ("MMCap") for the purchase (the "Purchase") of 2,702,410 pounds natural uranium concentrate ("U3O8") for an aggregate purchase price of US$250 million based on the five day average UxC spot price. In satisfaction of the purchase price for the U3O8, the Company has agreed to issue US$25 ...
NexGen Announces C$180 Million CDI Offering in Australia
Prnewswire· 2024-04-30 10:45
VANCOUVER, BC, April 30, 2024 /PRNewswire/ - NexGen Energy Ltd. ("NexGen" or the "Company") (TSX: NXE) (NYSE: NXE) (ASX: NXG) is pleased to announce that it has entered into a placement agreement dated April 30, 2024 (the "Placement Agreement") with a lead manager and bookrunner in Australia, Aitken Mount Capital Partners (the "Lead Manager"), to arrange and manage, and to provide settlement support for, an offering of 16,129,032 common shares (the "Shares") of the Company, at a price of C$11.11 per Share ( ...
NexGen Energy .(NXE) - 2023 Q4 - Earnings Call Transcript
2024-03-11 15:56
Company Participants Katie Lachapelle - Canaccord Alexander Pearce - Bank of Montreal Craig Hutchison - TD Graham Tanaka - Tanaka Capital Management Brian MacArthur - Raymond James Andrew Wong - RBC Capital Markets Chris Thompson - PI Financial Leigh Curyer India recently announced it will be constructing an additional 18 civil nuclear reactors by 2032, aiming to boost its nuclear generation to 2.42 gigawatts, a tripling of its current capacity. Canada supports these efforts, evidenced as recently as two we ...
NexGen Energy .(NXE) - 2023 Q3 - Earnings Call Transcript
2023-11-22 22:00
NexGen Energy Ltd. (NYSE:NXE) Q3 2023 Results Conference Call November 22, 2023 10:00 AM ET Company Participants Leigh Curyer - Chief Executive Officer Travis McPherson - Chief Commercial Officer Benjamin Salter - Vice President, Finance and Acting CFO Conference Call Participants Andrew Wong - RBC Capital Markets Alexander Pearce - BMO Chris Thompson - PI Financial David Talbot - Red Cloud Securities Graham Tanaka - Tanaka Capital Management Puneet Singh - Eight Capital Operator Good morning, ladies and ge ...
NexGen Energy .(NXE) - 2023 Q3 - Quarterly Report
2023-11-02 23:06
Exhibit 99.1 Condensed Interim Consolidated Financial Statements For the three and nine months ended September 30, 2023 (expressed in thousands of Canadian dollars) - Unaudited NexGen Energy Ltd. Condensed Interim Consolidated Statements of Financial Position (expressed in thousands of Canadian Dollars) - Unaudited | | | As at September 30, 2023 | | As at December 31, 2022 | | --- | --- | --- | --- | --- | | Assets | | | | | | Current assets | | | | | | Cash | $ | 370,444 | $ | 134,447 | | Marketable securi ...