4 Sept 2024other● Neutral
Monthly statement of CDIs on issue for August 2024: ASX CDIs rose to 86,939,740 from 80,008,941 through transfers between CDIs and TSX/NYSE shares. Administrative only.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
9 Aug 2024drilling result▲ GoodMajor
Patterson Corridor East has grown from two mineralised holes 275m apart to 8 of 12 summer holes hitting mineralisation, over 540m of strike and 600m vertical. RK-24-207 is the best hole yet, with uraninite and 1.5m above 10,000 cps. Assays due Q4 2024; 10,045.5m of 22,000m drilled.
8 Aug 2024other● Neutral
CEO Leigh Curyer's standard certification of the June 2024 interim accounts and discussion report. Administrative only, no new information.
8 Aug 2024other● Neutral
CFO Benjamin Salter's standard certification of the June 2024 interim accounts and discussion report. Administrative only, no new information.
8 Aug 2024half year report● Neutral
Interim accounts to 30 June 2024: cash C$572.4M (C$290.7M at December), strategic uranium inventory C$341.2M, convertible debentures C$464.7M (current), equity C$1.19B. Q2 net income was C$13.2M versus a six-month loss of C$21.4M.
8 Aug 2024other● Neutral
Management's discussion of the June 2024 quarter, accompanying the interim accounts already summarised (cash C$572.4M, debentures C$464.7M). Text provided is only the contents page and introduction, so no new figures are confirmed here.
5 Aug 2024other● Neutral
Monthly statement of CDIs on issue for July 2024: ASX CDIs rose to 80,008,941 from 76,591,334 through share transfers. Administrative only.
5 Aug 2024investor presentation● Neutral
Notice of a Q2 2024 conference call on 8 August covering federal permitting, procurement, updated economics, Patterson Corridor East exploration and treasury. Q2 financials to be filed 7 August. Notice only, no new results.
2 Aug 2024resource reserve update● NeutralMajor
Updated Rook I costs: pre-production capital C$2.2B (US$1.58B), operating cost C$13.86/lb, and production capability up to 30M lbs a year. At US$95/lb, after-tax NPV is C$6.3B and average annual cash flow C$1.93B versus C$2.01B in the 2021 study. No change to resources or reserves.
4 July 2024other● Neutral
Monthly statement of CDIs on issue for June 2024: ASX CDIs edged up to 76,591,334 from 76,469,612 through share transfers. Administrative only.
25 June 2024regulatory community update▲ Good
The CNSC finished its 30-day completeness check on 21 June of the May responses and revised federal EIS. The 60-day technical review has begun; once resolved the EIS can be deemed final and a Commission hearing date set. Progress, not approval.
19 June 2024agm notice● Neutral
Formal Canadian report of the 17 June 2024 AGM votes, repeating the results already released: 68.67% of shares voted, ten directors fixed, all nominees elected and KPMG re-appointed. No new information.
19 June 2024agm notice● Neutral
All AGM items passed at the 17 June 2024 meeting: ten directors set (94.03% for), KPMG re-appointed (99.63%), and all ten nominees elected. Richard Patricio received the weakest support at 50.90% for; Chair McFadden got 70.56%.
19 June 2024director officer appointment▲ Good
Susannah Pierce joined the board after the 17 June AGM, where she was elected with 98.30% support. She is President and Country Chair of Shell Canada; the Chair says her experience suits the final federal approvals and construction.
5 June 2024other● Neutral
Monthly statement of CDIs on issue for May 2024: ASX CDIs rose to 76,469,612 from 70,637,406, mainly from transfers between CDIs and TSX/NYSE shares. Administrative only.
30 May 2024drilling result▲ GoodMajor
New hole RK-24-193 hit mineralisation over 67.5m, 275m southwest of discovery hole RK-24-183; assays confirm 13.5m at 0.78% U3O8 in RK-24-183, including 0.5m at 10%. Summer drilling expanded to four rigs and 22,000m at Patterson Corridor East, 3.5km from Arrow.
29 May 2024debt financing● Neutral
Trust indenture dated 28 May 2024 with Computershare Trust Company of Canada governing the 9.0% unsecured convertible debentures issued for the uranium purchase. Legal documentation of the closed deal; only the contents page is readable, so no new terms can be stated.
29 May 2024asset acquisition disposition● Neutral
Canadian material change report on the closed MMCap deal: 2,702,410 lbs of uranium bought for US$250M of 9.0% five-year convertible debentures (conversion US$10.73, about 23M shares), plus 909,090 fee shares. Repeats the 28 May closing; adds an Australian cleansing notice.
29 May 2024asset acquisition disposition▲ GoodMajor
Closed the purchase of 2,702,410 lbs of uranium for US$250M, paid with 9.0% five-year convertible debentures, ahead of the 28 June deadline. Investor rights agreements apply. The CEO links it to offtake talks and project financing, which he says are progressing.
23 May 2024annual report● Neutral
Released its 2023 Sustainability Report, the fourth year of reporting. It recaps known items such as the Métis benefit agreement and provincial approval, and notes the nomination of Susannah Pierce would give 30% female board representation. No new financial or project results.
22 May 2024regulatory community update▲ GoodMajor
NexGen sent the CNSC responses to the last 49 of 274 technical comments on the federal environmental assessment, plus a revised federal EIS. CNSC has 30 days for a completeness check, then 60 days of review, before a hearing date is set. Progress toward federal approval, not approval itself.
15 May 2024capital raising announcement▲ GoodMajor
The Australian CDI placement closed: 20,161,290 shares at C$11.11 (about C$224M), as announced. Proceeds fund development, exploration and general purposes. This completes the raising flagged earlier and adds new shares to the register.
What it means for a shareholder
20.2m new shares at C$11.11 to raise about C$224m. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
Create a free account to see this worked out for your own holding.
10 May 2024investor presentation● Neutral
Announces a Q1 2024 conference call on 14 May 2024 covering federal permitting, project development, the new exploration discovery, financing and marketing. The Q1 accounts were already filed. Notice only, with no new results.
9 May 2024other● Neutral
KPMG consent letter, dated 7 May 2024, allowing its audit report on the 2023 accounts to be used in the prospectus supplement for the 20,161,290-share offering. Administrative only.
9 May 2024other● Neutral
CFO Benjamin Salter's standard certification of the March 2024 interim filings, dated 8 May 2024. A compliance form with no new business or financial information.
9 May 2024quarterly activities report● Neutral
Management commentary on the quarter to 31 March 2024, prepared 8 May. Only the contents page and introduction are readable, so no new figures can be stated beyond the accompanying financial statements.
9 May 2024agm notice● Neutral
Notice that AGM materials are delivered online. Meeting is 17 June 2024; votes are on setting ten directors and re-appointing KPMG, with the board recommending a vote for all. CDI holders must vote by 12 June 2024. Administrative only.
9 May 2024agm notice● Neutral
Voting form for CDI holders at the 17 June 2024 AGM, to set ten directors, elect them and re-appoint KPMG. CDI votes must be returned by 9:00am AWST on 12 June 2024. Administrative only.
9 May 2024debt financing▲ GoodMajor
NexGen agreed to buy 2,702,410 lbs of uranium for US$250M, paid by issuing 9.0% five-year convertible debentures convertible at US$10.73 (about 23M shares, ~4.3%). With the placement, it expects ~C$600M cash plus the uranium. Closing is due by 28 June 2024.
9 May 2024agm notice● Neutral
Announces the mailing of the AGM circular for 17 June 2024. Votes cover ten directors, including proposed new board member Susannah Pierce, and KPMG's re-appointment. Largely a repeat of the notice documents.