NexGen Aims to Be Canadian Uranium Player – by Geoffrey Morgan and Jackie Edwards (Bloomberg News – October 19, 2023)

(Bloomberg) — Canada’s NexGen Energy Ltd. is looking to Australia’s equity market as it sets up financing for its first-ever uranium mine back home, a project with a $1 billion price tag.

That’s partly because its co-founder heralds from Down Under and the market has a depth of experience with mining stocks. But more important is Australia’s $2.2 trillion pensions industry, creating what NexGen’s Chief Commercial Officer Travis McPherson termed “unrelenting” demand for assets.

So, while the Vancouver-based firm had crews preparing grounds to drill a shaft in Saskatchewan this summer, its executives were in Sydney and Melbourne to drum up interest in its stock as the company pursues inclusion in benchmark indexes to better access retirement funds.

Over the past decade, the prospector-turned-miner has seen its penny stock surge about 20-fold on the Toronto exchange as it received regulatory approval to exploit a major uranium deposit. The shares, also traded in New York and Sydney, have gained upward momentum this year, riding the wave of renewed interest in nuclear power as the world seeks emissions-free energy.

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