CA - NexGen Energy Ltd. (NXE) Q1 2024 Earnings Call Transcript

2024-05-14 12:30:05 ET

NexGen Energy Ltd. (NXE)

Q1 2024 Earnings Conference Call

May 14, 2024, 08:30 AM ET

Company Participants

Leigh Curyer - CEO and Director

Travis McPherson - Chief Commercial Officer

Ben Salter - Chief Financial Officer

Conference Call Participants

Andrew Wong - RBC Capital Markets

Puneet Singh - Eight Capital

Katie Lachapelle - Canaccord Genuity

Craig Hutchison - TD Cowen

Orest Wowkodaw - Scotiabank

Graham Tanaka - Tanaka Capital Management

Fred Berliner - Private Investor

Reed Rubin - private investor

Presentation

Operator

Good morning. My name is Julie and I will be your conference operator today. At this time, I would like to welcome everyone to the NexGen's Energy Q1 2024 Financial Results Conference Call.

All lines have been placed on mute to prevent any background noise. After the speaker's remarks, there will be a question-and-answer session at the end. [Operator instructions].

Before we begin, please note that the following caution respecting forward-looking statements, which is made on behalf of NexGen Energy and all of its representatives on this call. The statements made on this call will contain forward-looking information that involves risks and uncertainties. Actual results could differ materially from a conclusion, forecast or projection in the forward looking-information. Certain material factors or assumptions were applied in producing forecasts and projections are detailed in the forward-looking information. Additional information about those material factors and assumptions are contained in NexGen Energy's filings and they are available on Cedarplus website at www.sedarplus.ca.

Mr. Leigh Curyer, CEO and Director of NexGen Energy, you may begin your conference.

Leigh Curyer

Thank you, Julie. Welcome and thank you to all our shareholders and stakeholders around the world for joining NexGen's Q1 2024 update and financial results call. I'm Leigh Curyer, Founder and Chief Executive Officer of NexGen Energy. Joining me on the call today is Travis McPherson, Chief Commercial Officer, and Ben Salter, Chief Financial Officer.

From a company and industry perspective, it's been a great first quarter to 2024 and I'll commence by providing an update on the industry landscape and uranium market, which is entering into an unprecedented phase, with last night President of the United States, Joe Biden, signing into law legislation that bans the import of Russian uranium and unlocking $2.7 billion in spending to support the build-up of US domestic uranium supplies.

This purely reflects the particularly high risk surrounding a large percentage of current mine sources and available supplies. We'll provide a progress in advancing the Rook I project, specifically federal permitting, which is in the final stages with the CNSC project development, with respect to front-end engineering design and detailed engineering progressive; exploration, which includes the early stage discovery of new mineralization in the first drill hole at the target on an entirely new conductor corridor 3.5 kilometres from the one that hosts the mighty Arrow deposit.

And financing, including discussion related to two transactions in the last fortnight, the AUD250 million CDIs raised exclusively on the ASX, which closed this morning pre-market and the strategic purchase of 2.7 million pounds of [indiscernible], which, given last night's ban being passed into law, is ultimately very, very timely....

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