NexGen Energy (NXG) has received its Licence to Construct the Rook I Uranium Project from the Canadian Nuclear Safety Commission (CNSC). The licence has been issued just 14 days after the completion of the final commission hearing, which reflects the quality of the NXG submission and the strong support for the project from First Nations and regulatory stakeholders. NexGen will now embark on a 4-year construction process with Rook I producing first uranium early next decade. There’s some “good news” built into NXG’s share price, but we see great value if it dips another 5-10%.
- We can ultimately see NXG enjoying a meaningful break above $20 – MM is long NXG in its Emerging Companies Portfolio.
MM is bullish towards NXG around $16.50
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