June 22, 2022
NexGen Energy Ltd. (TSX:NXE, Not Rated, David A. Talbot) announced it has submitted a draft Environmental Impact Statement (EIS) to the Saskatchewan Ministry of Environment (ENV) and the Canadian Nuclear Safety Commissions (CNSC), a major milestone in the development of its 100% owned Rook I project in the Athabasca Basin. We note that this submission follows the Provincial and Federal Environment Assessment (EA) process that commenced in April 2019 following regulatory acceptance of NexGen’s project description. Importantly, the EIS submission included letters of support for the project from each of the Clearwater River Dene Nation (CRDN), Birch Narrows Dene Nation (BNDN), and Buffalo River Dene Nation (BRDN), which have endorsed the project through the signing of the Benefit Agreements with NexGen that covers the entire lifespan of the project. Upon review and approval of the Environmental Assessment, the Rook I project is expected to deliver various economic, social, and community benefits. Meanwhile, with the submission of the draft EIS complete, the ENV and CNSC have now commenced their respective Provincial and Federal reviews. The province has commenced its technical review of the EIS, and under the Federal EA review process, the CNSC is currently undergoing a conformance review of the EIS in advance of conducting a parallel technical and public review. Both the ENV and CNSC are expected to share information and work to reduce regulatory duplication during the review process. Moving forward, permitting continues to be of priority at this stage of the project’s development. Other near-term catalysts for the company include 1) completion of the Front-End Engineering Design (FEED) stage of the project, and 2) commence detailed engineering in H2/22. Read more
