NexGen Energy’s (ASX:NXG, NYSE:NXE, TSX:NXE) main asset is the Rook I project, located on the south-western margin of the Athabasca basin. The high-grade Arrow deposit is hosted within stable crystalline basement, allowing exploitation through conventional underground mining methods. This week it was announced that global uranium producer JSC NAC Kazatomprom would be backing yet another new physical uranium fund. Meanwhile ongoing global energy shortages continues to spark anxiety in energy related markets against a backdrop of decarbonisation. Will the push for reliable low emission electricity spark a nuclear energy renaissance? The temperature is rising in an already simmering uranium spot market. We have updated our NXG fundamental valuation and provided a price target to account for increased upward pressure on uranium pricing.
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