Part of the Stock Digest group of websites: Visit Tech Stock Digest  

NexGen rises on uranium PFS results

Investors have rewarded British Columbia uranium developer NexGen by pushing its Toronto-listed equity up by nearly 14% on Monday, following the release of the prefeasibility study (PFS) results and a mineral resource update of the Arrow deposit in the Athabasca basin in Saskatchewan.

The PFS delivered a “substantial improvement” to the 2017 preliminary economic assessment (PEA) with a 64% increase in average yearly after-tax net cash flow, CEO Leigh Curyer said in a news release announcing the study results.

The PFS incorporated only the indicated mineral resource of Arrow, which reduced its mine life, but increased the average grade, while maintaining a consistent capital expenditure and lowered yearly operating expenses.

The PFS envisions an underground mine that will operate for nine years, rather than the previously estimated 15 years at a lower mining rate of 1 039 t/d, compared with 1 448 t/d considered in the PEA.

The focus on the indicated mineral resource increased the average grade from 1.73% U3O8 to 3.09% U3O8, lifting production to 25.4-million pounds a year, from 18.5-million pounds a year.

Click here to continue reading...

Subscribe to the RSD email list and get the latest resource stock activity directly to your inbox, for free.

MARKET SUMMARY

INDICES

Name Last Change
DOW 25286.50 0.40%
S&P 500 2722.18 0.15%
NASDAQ 7200.88 0.00%
TSX 15131.78 0.16%
TSX-V 626.42 0.00%

Resource Commodities

Name Last Change
Gold 1202.61 0.02%
Silver 14.01 0.00
Copper 2.69 0.000
Platinum 837.50 0.05%
Oil 55.69 7.61%
Natural Gas 4.10 7.63%
Uranium 29.15 0.00%
Zinc 1.15 0.00%

@RSDigest ON TWITTER

Part of the Stock Digest family of websites
Small Cap Stock Digest