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NexGen is developing one of the world's
largest uranium deposits on its 100%-
owned Rook1 Project, estimated to contain
an indicated and inferred resource of over
300 million pounds in the Arrow Deposit.
Backed by one of Asia's wealthiest inves-
tors, Li-Ka-shing, through CEF Holdings,
and $140 million in cash, NexGen plans to
announce a maiden Pre-Feasibility Study
(PFS) in Q3 2018 with an updated mineral
resource estimate. The PFS is expected
to optimize the outcomes from the com-
pany's July 2017 Preliminary Economic
Assessment which outlined Arrow as the
future's largest and lowest cost uranium
mine.
Running almost neck and neck with
NexGen is Fission Uranium Corp. [FCU-
TSX; FCUUF-OTCQX; 2FU-FSE], which
is developing the Triple R deposit on the
Patterson Lake South Project. According to
a February 2018 resource estimate, Triple
R contains indicated mineral resource of
87.7 million pounds of U
3
O
8
, plus a further
52.8 million pounds inferred.
Fission said it recently retained Roscoe
Postle Associates to act as the lead
consultant for the completion of a Pre-
Feasibility Study the company hopes to
deliver by Q4 2018.
"The completion of the PFS on the
Triple R deposit will be a major milestone
towards the potential of eventually min-
ing at Patterson Lake South," said Fission
President and COO Ross McElroy.
These Saskatchewan projects are being
advanced amid talk of supply concerns
that could flow from the recent production
cuts by Cameco and others.
In November 2017, Cameco said it was
temporarily suspending production at the
McArthur River and Key Lake operations
in Saskatchewan. It attributed the move
to the continued state of oversupply in the
uranium market and the expectation of
little change in the immediate future.
URANIUM
Cross-section of the various uranium deposits in the Athabasca Basin of northern
Saskatchewan. Illustration courtesy NextGen Energy Ltd.
"…in the uranium sector, the bear market has
been so painfully long that the event that caused
it – the 2011 Fukushima disaster – has almost
become a distant memory."
