NextGen Energy's Rook One deposit in the Athabasca Basin is a world-class uranium deposit with a resource of 28.8 million pounds annually in the first five years of production, which at current uranium prices of $100+ per pound and using the company's $75 uranium feasibility study would generate after-tax NPV of approximately $5.8 billion and at $150 uranium prices could generate over $2 billion in annual after-tax free cash flow, placing it in the top 10 mining companies worldwide

The first provincial environmental approval for a uranium mining project in Saskatchewan in over 20 years was granted to NextGen Energy's Rook One deposit, and the approval process was the fastest approval ever granted for a uranium project in the province, demonstrating that regulatory barriers to uranium mining have become less significant as public policy has shifted to support nuclear energy

NextGen Energy plans to begin construction of the Rook One project in 2024 following expected federal approval in early 2024, with the company fully funded for the first two to three years of construction through a combination of $450 million in treasury cash, recent equity raises at premium valuations from Australian institutional investors, and committed debt financing expressions of interest exceeding $1 billion