NexGen is advancing talks with “various prospective financing entities” including commercial lenders, export credit agencies and alternative sources to secure financing for the project, the company said in the statement. The Vancouver-based firm said it is receiving interest in “significant” new sources of potential project financing.
NexGen is one of several firms racing to develop uranium projects in Saskatchewan’s uranium-rich Athabasca region, which has become a hub of mining activity as the world warms to nuclear power.
While uranium prices have rallied as supply concerns escalate, only a handful of companies actually operate mines for the radioactive metal. Rook I, one of the biggest projects, would account for about 13% of the entire global uranium supply, according to Bank of Nova Scotia.
NexGen shares fell as much as 9.7% on Thursday in Toronto to a low of C$8.31, its biggest intraday decline since May….
