Shaw and Partners apporinted Co-Manager to NexGen Energy's A$250m capital raising Corporate01 May 2024

Shaw and Partners is delighted to be involved in NexGen Energy's A$250m capital raise with the objective of raising the liquidity of the stock on the ASX.

 

Earlier this year we initiated coverage on NexGen, which is progressing a development of the extraordinary Arrow uranium deposit at the Rook I Project in the Athabasca Basin in Saskatchewan in Canada. Once operational, this mine will produce around 30Mlb/yr of uranium, supplying about 15% of global demand.

There were two interesting pieces of news this week in the global uranium market:


1) The US Senate has unanimously passed the bill banning US imports of Russian enriched uranium (currently about 25% of US supply), and


2) Cameco reported a disappointing loss of C$7m for its 1Q24 result and has disclosed ongoing production issues with its Unkai JV with Kazatomprom.

The uranium market remains structurally under-supplied and desperately needs new sources of supply.

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