Past year: ▼ 7%(12.42 – 17.40 CAD)
Each one in plain English, with the numbers worked through for a shareholder.
24 Mar 2025drilling result▲ GoodMajor
RK-25-232 cut 3.9 m above 61,000 counts per second inside a 13.8 m mineralised interval from 452.2 m, which the company calls the best discovery-phase hole it has ever drilled at any property, Arrow included. With four other off-scale holes it doubles the shallow high-grade subdomain at Patterson Corridor East to 210 m along strike and 335 m of vertical extent, eleven years after the Arrow discovery hole and 3.5 km away from it.
30 Jan 2025drilling progress report▲ GoodMajor
A 43,000 m program starts at Patterson Corridor East, 9,000 m more than 2024 and among the largest in the Athabasca Basin for the year. The mineralisation there is vein-type in competent basement rock, which the company describes as highly analogous to Arrow.
12 Nov 2024drilling result▲ GoodMajor
Patterson Corridor East grew from a single hole into a zone in one season: 34,000 m drilled, 19 of 30 holes mineralised, ten with multiple intervals above 10,000 counts per second, and the footprint now 600 m along strike by 600 m vertically. RK-24-222 returned a 17.0 m wide vein with several off-scale (above 61,000 cps) occurrences, the fifth PCE hole to go off-scale, and RK-24-220 and -223 reached 41,000 and 40,000 cps.
11 Mar 2024drilling result▲ GoodMajor
A new discovery on the SW2 property, 3.5 km east of Arrow at Patterson Corridor East: RK-24-183 intersected 19.8 m of mineralisation between 347.7 and 367.5 m with peaks above 61,000 counts per second, on a conductor segment never drilled before and open along more than 1.5 km of strike. The company points out that 3.0 m of up to 61,000 cps is better on every metric than RK-14-21, the hole that discovered Arrow itself, which had less than 0.5 m above 9,999 cps.
9 Feb 2024drilling progress report● Neutral
A 30,000 m exploration program starts for 2024, testing targets generated by the 2023 high-resolution geophysics across NexGen's ground on the boundary of the southwest Athabasca Basin.
8 Feb 2023drilling progress report● Neutral
An expanded 2023 exploration program begins, following up 2022 drilling and testing targets thrown up by 2022 geophysics, with a substantial new geophysical campaign across the SW1, SW2 and SW3 ground in the southwest Athabasca Basin. Arrow is now a permitting and financing problem; the drilling budget has moved to finding the next one.
28 July 2022drilling result● Neutral
The assays behind those 2021 holes came back low: 0.10% U3O8 over 7.0 m in AR-21-268 below the Arrow deposit at 1,128 to 1,135 m depth, and 0.10% over 1.0 m at Camp East. Real mineralisation in new places, but two orders of magnitude below Arrow's own grades. A regional exploration and geophysics program begins for 2022.
27 Jan 2022drilling result● Neutral
The 2021 field season was 18 holes for 10,849 m, most of it regional exploration on electromagnetic conductors and a geotechnical confirmation program at Arrow. Radioactivity only, and modest: 6.5 m up to 3,530 counts per second below Arrow, and 0.5 m up to 3,100 cps at the Derkson West target. Assays pending.
24 Feb 2021resource reserve update● Neutral
The full feasibility study technical report on Arrow, prepared by Stantec, Wood, RPA (now SLR) and Golder, filed with the SEC two days after the results announcement.
22 Feb 2021resource reserve update▲ GoodMajor
The feasibility study, with the first mineral reserves NexGen has ever declared: 239.6 million lb U3O8 probable in 4,575 kt at 2.37%, drawn from a resource that now includes 209.6 million lb measured in 2,183 kt at 4.35% - the payoff from the 2018-19 conversion drilling. After-tax net present value is C$3.47 billion at 8% with a 52.4% return and payback under a year, on C$1.3 billion of pre-production capital and a 10.7-year life at 1,300 tonnes a day.
12 Dec 2019drilling result▲ GoodMajor
The third and final assay batch, forty holes: 46.0 m at 4.51% U3O8 including 4.0 m at 15.21%, 30.0 m at 3.09% including 8.0 m at 11.35%, 44.0 m at 1.66%. The company's stated purpose is continuity of grade and thickness rather than growth, and after 2019 the case for reclassifying Arrow's indicated tonnes as measured rests on a matched set of paired intercepts.
20 Nov 2019drilling result▲ GoodMajor
A second batch of twenty holes, high grade in every A2 and A3 target: 48.0 m at 3.81% U3O8 including 6.0 m at 13.50%, 41.0 m at 3.42% including 7.0 m at 15.48%, and 21.0 m at 5.06% including 4.0 m at 18.38%. Each is paired in the release with the neighbouring hole it twins, and the grades line up.
9 Oct 2019drilling progress report▲ GoodMajor
The first assays from the feasibility program confirm the radioactivity readings, including 12.0 m at 33.78% U3O8 and 8.0 m at 32.88%, with AR-19-227c2 returning 49.0 m at 2.93% including 3.0 m at 22.66%. Twenty holes reported, each drilled within 7 to 13 metres of an earlier hole with comparable grades.
7 Aug 2019drilling result▲ GoodMajor
Phase I finished: 117 holes for 50,968 m on the resource, plus 14 holes for 6,314 m characterising the rock around the planned workings and the underground tailings facility. Directional drilling cut the metres needed for the conversion by 28%. Radioactivity results only, with assays following in three batches over the rest of the year.
10 July 2019drilling result▲ Good
Forty more holes for 18,166.5 m, all intersecting their A2 and A3 targets, with composite off-scale radioactivity of up to 14.05 m in a single hole. Assays still to come; the point of the program is continuity, and so far every hole has found the deposit where the model said it would be.
28 May 2019drilling result▲ Good
Another twenty holes for 7,969.5 m, and again every A2 and A3 target was intersected. Still radioactivity, not assays. The drill spacing study behind the program rests on 189 holes and 121,923 m and underpins the 256.6 million lb indicated resource at 4.04% U3O8.
28 Mar 2019drilling result▲ Good
The first twenty holes of the feasibility program, 8,216.5 m, hit nineteen of nineteen A2 sub-zone targets. These are radioactivity readings rather than assays: intervals such as 10.15 m and 12.55 m of composite off-scale radioactivity above 10,000 counts per second, with several metres of massive pitchblende. Hitting every target at 9 to 16 metre spacing is what converts indicated tonnes to measured.
22 Jan 2019drilling progress report● NeutralMajor
The 125,000 m feasibility-stage program begins - the largest drill campaign the company has run - designed to tighten drill spacing to between 9.0 and 16.7 metres so indicated resources can be reclassified as measured, the highest confidence category, and to feed a bankable feasibility study.
27 Dec 2018resource reserve update● Neutral
The announcement that the prefeasibility technical report has been filed on SEDAR, effective 5 November 2018. Paperwork supporting figures already published.
20 Dec 2018resource reserve update● Neutral
The prefeasibility technical report, effective 5 November 2018, filed with the SEC together with its qualified-person consents. The record's title was taken from one of the consents rather than the report.
27 Nov 2018drilling result● Neutral
Twenty-nine holes for 20,482 m, drilled to characterise the rock in Arrow's footwall and to site the underground workings rather than to grow the resource; the results went into the prefeasibility study published two weeks earlier. Mineralised intervals found in the process were not included in the updated estimate.
5 Nov 2018resource reserve update▲ GoodMajor
The prefeasibility study and a resource update land together. Indicated resources rose 43% to 256.6 million lb U3O8 in 2.89 Mt at 4.03%, including an A2 high-grade core of 181.0 million lb in 0.46 Mt at 17.85%, with 91.7 million lb inferred. Because the study uses indicated material only, the mine life falls from 15 years to 9, but the head grade rises from 1.73% to 3.09% and average annual after-tax cash flow rises 64% to C$909 million; after-tax net present value is C$3.7 billion at 8% with a 56.8% return on C$1.25 billion of capital. A 125,000 m, ten-rig program - the largest in the company's history - is launched to take Arrow to feasibility.
21 June 2018drilling progress report● Neutral
A smaller summer program - 20,400 m on four rigs for $8.3 million - with three jobs: follow up AR-18-208c1, the last hole of the winter which found a possible new zone 160 m northwest of the A0 shear, step out from known mineralisation, and drill footwall holes to site the shafts. The results feed the first prefeasibility study, due late in the third quarter.
29 Jan 2018drilling progress report● Neutral
A 25,000 m winter program with eight rigs begins, aimed at defining the A3 high-grade zone, testing the large untested ground around the A1 to A5 shears, and drilling ranked geophysical targets on the Arrow, South Arrow and Mirror conductors.
17 Jan 2018drilling result▲ GoodMajor
The last 28 holes of the summer program pushed mineralisation outside the resource boundary in several places: one hole returned 13.0 m at 20.74% U3O8 within a wider interval, 25 m outside the estimate in the A3 High Grade Domain and described as the best hole yet drilled in that shear; another gave 5.0 m at 11.72% 15 m outside it; and high-grade material was confirmed northwest of the A1 shear for the first time with 8.0 m at 1.43% including 4.5 m at 2.51%.
16 Jan 2018drilling result▲ GoodMajor
South Arrow, discovered six months earlier, turns out to be a real zone rather than a one-hole curiosity: thirty-one holes returned results such as AR-17-166c1 with 20.5 m at 1.19% U3O8 including 3.5 m at 6.21%, plus a second interval of 24.5 m at 1.46%; AR-17-160c1 13.0 m at 2.18% including 4.0 m at 6.79%; and AR-17-178c1 11.0 m at 2.17% including 3.5 m at 6.73% only 142 m below surface. Shallow, stacked and outside the Arrow resource.
21 Sept 2017resource reserve update● Neutral
The same technical report filed with the SEC in full - a 3.5 MB document accompanied by six one-page qualified-person consents, one of which the record's title was taken from. No new information beyond the September filing announcement.
15 Sept 2017resource reserve update● Neutral
The technical report behind the July economic study is filed, effective 1 September 2017 and prepared by six qualified persons from RPA and elsewhere. It is the paperwork that makes the July figures usable in a prospectus.
31 July 2017resource reserve update▲ GoodMajor
The maiden economic study on Arrow, from Roscoe Postle Associates: an after-tax net present value of C$3.49 billion at an 8% discount rate, a 56.7% return, payback in 1.1 years and pre-production capital of C$1.19 billion, at US$50/lb uranium. Average output of 27.6 million lb a year in the first five years at an operating cost of about US$4.42/lb over that period. It is built on the December 2016 estimate of 179.5 million lb indicated at 6.88% U3O8 and excludes over 66,000 m of 2017 drilling.
27 July 2017drilling result▲ GoodMajor
The first two exploration holes of the summer program found a new zone of off-scale radioactivity, over 61,000 counts per second in massive pitchblende veins, about 400 metres south of Arrow on a parallel structure that is almost entirely undrilled. The intervals are narrow but sit inside a wide envelope of the same hydrothermal alteration that surrounds Arrow, and South Arrow is open in every direction.
