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| Statement |
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| So it's incredibly exciting |
| It's shaping up to be a historic year for the company as we continue to see strong and vocal support from local and indigenous communities to see NexGen steward this opportunity through to fruition |
| So today to add a new discovery into the story is just incredibly exciting for everyone involved and it really does signify the prospectivity of that dominant land package that we have in the mighty southwestern section of the basin |
| This reflects the continued growth and strength of outcome in the global market and especially in the Australian context |
| We have a fantastic project on the cusp of going into construction to meet the world's energy needs and one which will, at the current spot price, will take us into the top nine or top 10 mining companies worldwide on an after-tax cash flow basis |
| I'm incredibly proud of the focus and discipline the entire NexGen team exhibits |
| We are taking a leadership role in the sector given the unparalleled flexibility, scale and cost structure of the project, due to the technical nature of the project and the natural hedge through the low all-in sustaining cost approximately $10 US per pound as per the 43-101 feasibility study |
| Japan has also demonstrated the impact of its strategy with the restart of 12 nuclear reactors and as a consequence have reduced their dependence on fossil fuels by 15%, demonstrating nuclear energy's immediate positive impact |
| Our spot contracting strategy is being well recognized as it provides transparency, [price] (ph) discovery and promotes the resiliency of uranium miners and the nuclear industry |
| We're really pleased with the report card that we got back on February the 12th from the CNSC |
| And the NexGen exploration programs of the past years have been extremely valuable in contributing to today's result |
| This will not only reestablish Canada as a preeminent uranium producer in the globally recognized province of Saskatchewan, but will also emphasize NexGen's unique position to meet the world's increasing uranium requirements |
| So it's safe to expect that the drilling budget will increase over and above that $12 million in 2024 and obviously dependent on results but given we've found an intercept which shows on all fronts is far more exciting than the Arrow discovery hole |
| Our commitment to the company's values and dedication to excellence in everything we do has resulted in a world-class organization leading positive necessary change in the sector and setting new standards for sustainable responsible resource development |
| The site confirmation program has been highly successful in providing the data to validate and inform future design of the production shaft and exhaust shaft for the Rook I project which is on the critical path |
| It is well understood and accepted that the project is vital to support the growing demand |
| Over the past 12 months, NexGen has successfully and safely executed the strategy to advance the Rook I project |
| As our actions and track record demonstrate, we're committed to playing our role successfully in delivering the vast benefits of nuclear to improve the quality of living globally |
| I'll provide an update on the exciting progress made this quarter and reiterate the key accomplishments from the past year regarding the rainy market, permitting, project development, financing and for those who have seen the news release this morning, a very exciting discovery of new intense mineralization in a greenfield discovery only 3.5 kilometers from Arrow |
| Yeah, we're very excited about it |
| Further, growing interest from global lenders reinforces that we have a sound strategy with expressions of interest now totaling over $1.25 billion US |
| Very much appreciate everyone's interest in NexGen and it's an incredibly exciting time focused on the remaining aspects of the federal approval |
| We are talking exactly the same mining and milling method with some slight improvements in the design to enhance environmental performance over the life of the mine |
| Canada supports these efforts, evidenced as recently as two weeks ago, with the issuance of its second green bond for nuclear development, raising $4 billion US, ensuring cost effective financing for nuclear projects in Canada and reflecting widespread federal government support for nuclear energy in Canada and globally |
| We are contributing to building a strong and thriving local workforce, which has always been an important aspect of our development and success |
| This hole is, like I said, a lot better than the discovery hole at Arrow |
| Again, given the fact that not only does it benefit us as producers and future producers, but the utilities themselves in the changing dynamic as we look forward in the uranium markets |
| Given the large capital market dynamics combined with strong resource market focus in Australia, the growth of ASX ownership of NexGen is expected to increase |
| We have continued collaboration from government partners, growing shareholder and investor interest, especially large generalists globally, and a surge in requirement for uranium-neutron energy |
| As we collectively navigate the global energy transition, nuclear power has emerged as a pivotal force |
| Statement |
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| We are facing a probable long-term supply deficit with an anticipated cumulative shortfall of over 1.5 billion pounds expected through 2040, underscoring this [NexGen] (ph) role and the value that NexGen has in the global energy markets |
| Yet the supply side presents a stark contrast with its fragility due to the confluence of factors, primarily under-investment in exploration development for over a decade, geopolitical tensions and supply chain challenges, challenging mine restarts and overall resource depletion have all affected the current supply levels and the long-term forecasted ability of supply to come online |
| Given these inventory scarcities and the trend towards increased contracting, we anticipate continuous upward pressure on the spot and churn prices for uranium for a long period of time |
| We suspect we're going to be there for a decent period of time |
| In fact, given the commodity price movement, I would dare say that the payback period has even been shortened from what was presented back in February of 2021 |
| The potential ban on Russian uranium imports by the US Senate adds to this precarious situation, leaving many market participants reassessing future strategies and looking for sustainable new diversified primary uranium sources in sound jurisdictions |
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