NexGen Energy .(NXE)
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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
Financial Performance - The Company's audited consolidated financial statements for the financial year ended December 31, 2023, are available for shareholders and on the Company's website[96]. - The company's share price increased by 55% in 2023, outperforming the S&P/TSX Global Mining Index, S&P/TSX Composite Total Return Index, and the Global X Uranium ETF[242]. - NexGen's share price has increased 2,475% since its initial listing in April 2013, outperforming the S&P/TSX Global Mining Index and Global X Uranium ETF[258]. - For the five-year period ended December 31, 2023, NexGen's share price increased 285%, again outperforming key mining indices[260]. - NexGen's efficient use of capital is highlighted by its leading ratio of Exploration and Development spend relative to General and Administrative spend compared to its uranium peers[264]. Corporate Governance - The Board of Directors includes experienced professionals with extensive backgrounds in mining and corporate governance, enhancing the Company's leadership[106]. - The Company emphasizes strong corporate governance practices, including annual evaluations of Board members and operations[139]. - The Board has established a governance framework that includes 100% independent Audit, Compensation, and Nomination and Governance Committees[140]. - The Board consists of ten individuals, with eight (80%) being independent directors, ensuring a majority of independent oversight[167]. - The Board has a Diversity Policy that emphasizes equitable representation and aims to recruit candidates with diverse backgrounds and experiences[171]. - The Nomination and Governance Committee has implemented a formal process for assessing the effectiveness of the Board and its committees annually[220]. - The Board oversees succession planning, with the CEO responsible for identifying and developing internal CEO succession candidates[293]. Sustainability and Community Engagement - The Company has a strong focus on sustainability, with dedicated committees addressing environmental, social, and governance (ESG) issues[111]. - NexGen has established a strong partnership with local indigenous communities, signing the final impact benefit agreement in June 2023[252]. - The Company achieved 96% of its active field operation workforce from local communities within the Local Priority Area (LPA), predominantly Indigenous[179]. - NexGen exceeded its target with 82% of the Rook I site overall spend awarded to LPA-partnered or member-owned businesses, surpassing the aspirational target of 30%[180]. - The company is aligning with the Task Force on Climate-Related Financial Disclosures recommendations to enhance transparency regarding climate-related risks[202]. - Material sustainability topics include Environmental Stewardship, Health & Safety, and Regulatory Compliance, validated by executive officers[206]. - The company has embedded sustainability considerations in all business decisions since its inception in 2011, reflecting its commitment to long-term success[201]. Project Development - The Company is actively involved in the Rook I Project, which is advancing into Detailed Engineering, reflecting ongoing project development efforts[113]. - NexGen Energy Ltd. is focused on advancing the Rook I Project, with expected average annual production of approximately 29 million pounds over the first five years[252]. - The company received Provincial Environmental Assessment approval for the Rook I Project in November 2023, marking the first approval for a uranium project in Saskatchewan in 20 years[250]. - The company aims to obtain Federal Environmental Assessment approval and a license to construct, building on the recent provincial approval[253]. - The company plans a 30,000-meter exploration drill program in 2024 to test priority targets identified from the 2023 exploration campaign[255]. - NexGen's exploration program in 2023 included over 22,000 meters of drilling, enhancing the understanding of the geology in prospective targets[255]. Compensation and Risk Management - The Compensation Committee met formally two times in 2023 and consulted with Mercer regarding the review of NexGen's compensation program[122]. - 94% of CEO compensation and 86% of other executives' compensation is at risk, aligning with the pay-for-performance philosophy[246]. - The company is in the process of adopting a 2024 Long-Term Incentive Plan to align executive compensation with shareholder interests[239]. - The company has a Clawback Policy, an Anti-Hedging Policy, and an Insider Trading Policy in place to manage compensation risk[246]. - The Audit Committee is responsible for overseeing the Company's risk management program, including cybersecurity measures[152]. - NexGen has not experienced any known breaches or direct losses related to cyberattacks to date, highlighting the effectiveness of its cybersecurity initiatives[157]. Board Attendance and Meetings - The Board held 4 meetings in the financial year ended December 31, 2023, with perfect attendance by directors[227]. - The Audit Committee, chaired by Trevor Thiele, had 100% attendance in 2023, overseeing financial statements, internal controls, and risk management[187]. - The Compensation Committee, led by Richard Patricio, also achieved 100% attendance in 2023, focusing on executive compensation and succession management[192]. - The Nomination and Governance Committee, chaired by Richard Patricio, ensured 100% attendance in 2023, assessing the competencies of existing directors[196]. - The Sustainability Committee, chaired by Karri Howlett, maintained 100% attendance in 2023, focusing on environmental policies and corporate social responsibility[198].
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 ...
NexGen Energy .(NXE) - 2023 Q2 - Earnings Call Transcript
2023-08-10 19:50
Financial Data and Key Metrics Changes - As of June 30, 2023, the company reported a working capital of $89 million and has deployed approximately $39.4 million for the permitting, exploration, and development of the Rook I Project [60][84]. - The uranium price is currently just above $56 per pound, remaining steady during the summer period, with increased interest from utilities for offtake contracts [74]. Business Line Data and Key Metrics Changes - The Rook I Project is expected to deliver up to 29 million pounds of uranium annually, with a production capability of 30 million pounds per annum [28][76]. - The company has received provincial approval for the commencement of the 2023 Site Infrastructure and Confirmation Program at Rook I, which is progressing on time and within budget [36][40]. Market Data and Key Metrics Changes - Global nuclear capacity is currently at 390 gigawatts, with expectations to more than double by 2050, necessitating a tripling of uranium supply to meet demand [38]. - The demand for uranium is increasing due to geopolitical instability affecting supply, particularly highlighted by the situation in Niger, which produces 6% of the world's uranium supply [79]. Company Strategy and Development Direction - The company aims to be a partner of choice for fuel buyers and nations seeking to mitigate supply chain risks, focusing on selling to countries that align with energy security and net-zero targets [109][110]. - The strategy includes leveraging the technical and sovereign nature of the Rook I Project to secure contracts tied to market prices at the time of delivery, ensuring flexibility in production [122][125]. Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the imminent provincial approval process, which is critical for advancing the Rook I Project and expects federal processes to run in parallel once provincial approval is secured [11][104]. - The company anticipates a significant increase in uranium prices, which are necessary to incentivize additional production and meet rising demand [138][165]. Other Important Information - The company has signed industry-leading impact benefit agreements with local indigenous communities, securing 100% support for the Rook I Project [57][58]. - The company is actively exploring additional high-priority targets in the Rook I property and the SW1 property, with a total of 22,500 meters planned for drilling in 2023 [83]. Q&A Session Summary Question: What is the timeline for provincial and federal permitting? - Management indicated that provincial approval is imminent, and once received, the federal process will proceed in parallel with site activities [101][104]. Question: How has the geopolitical situation affected conversations with utilities? - Management noted an increase in RFPs from utilities, highlighting a focus on supply chain security due to sovereign risks, particularly from regions like Niger and Russia [92][93]. Question: What is the company's strategy regarding contracting and pricing? - The company plans to contract portions of production tied to market prices at the time of delivery, leveraging its technical profile and sovereign advantages [122][125]. Question: What are the expectations for uranium prices moving forward? - Management believes uranium prices need to rise significantly to incentivize additional production, with estimates suggesting prices over $100 per pound may be necessary [165]. Question: How does the company plan to communicate production flexibility to the market? - The company will provide updates on its ability to flex production up or down based on market demand, emphasizing the technical and economic advantages of the Rook I Project [128].
NexGen Energy .(NXE) - 2023 Q2 - Quarterly Report
2023-08-08 23:29
Exhibit 99.1 Condensed Interim Consolidated Financial Statements For the three and six months ended June 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 June 30, 2023 | | As at December 31, 2022 | | --- | --- | --- | --- | --- | | Assets | | | | | | Current assets | | | | | | Cash | $ | 100,571 | $ | 134,447 | | Marketable securities (Note ...