NewsNovo
The construction case for NexGen Energy (NYSE: NXE) at its Rook I uranium project in Saskatchewan is getting harder to dismiss.
The company's C$2.2 billion cost estimate from August 2024 remains intact, and the shaft-sinking and underground-engineering contract, which covers more than half of the project build, was signed at levels consistent with that figure.
The complication is that the heaviest capital spending still lies ahead, and how NexGen funds it is unresolved. Construction milestones and what they signal NexGen said its Q2 milestones came in on schedule.
The company commissioned a 3,000-foot airstrip, completed and occupied an accommodation complex, and pushed forward on major earthworks and surface infrastructure.
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