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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.

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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%


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