NexGen Energy Advances Permitting for Saskatchewan Uranium Project; Shares Rise

Dow Jones11-19 23:09

By Adriano Marchese

NexGen Energy shares rose Tuesday morning after the company said it has passed a federal technical review, a key requirement and step forward for getting its Saskatchewan uranium project approved.

Shares traded 6.4% higher at 11.82 Canadian dollars ($8.43).

The Canadian uranium producer said the Canadian Nuclear Safety Commission notified the company of the successful completion of final federal technical review for the Rook 1 project, confirming that it has successfully addressed all information requests required.

With completion of the CNSC technical review, the next and final steps in the federal approval process include scheduling a commission hearing date for the project, from which the company expects to receive an approval decision on the project.

"This development reinforces Canada's path to re-establish itself as the leader in global uranium supply and partner of choice," the company said.

Write to Adriano Marchese at adriano.marchese@wsj.com

(END) Dow Jones Newswires

November 19, 2024 10:09 ET (15:09 GMT)

Copyright (c) 2024 Dow Jones & Company, Inc.

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