NexGen Energy (TSX: NXE) has seen a positive development in the advancement of its Rook I project within the Athabasca Basin. It was revealed today that the Canadian Nuclear Safety Commission has completed its review of the final environmental impact statement for the proposed project.
The update, posted to the Government of Canada’s portal for the Impact Assessment Agency of Canada, indicated that CNSC staff have determined that information provided within the submission is complete, with the environmental impact statement being deemed as acceptable.
Moving forward, CNSC staff are to next prepare an environmental assessment report, which will then be made available for review by the public, along with Indigenous Nations and communities. The report is to be made available for review in advance of a public Commission hearing.
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The development follows NexGen completing the final federal technical review for Rook I back in November.
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The Rook I project, if constructed, is expected to produce 19.8 million pounds of U3O8 annually for an estimated 11.7 years, with the first five years of production calling for annual production of 29.2 million pounds of U3O8. The proposed mine is estimated to have a net present value of $6.32 billion on an after-tax basis, using an 8% discount rate.
NexGen Energy last traded at $9.66 on the TSX.
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