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Shares of NexGen Energy rose on Tuesday as the uranium developer launched a private placement of C$180 million targeting the Australian market. Aitken Mount Capital Partners will act as lead manager and bookrunner.
NexGen traded 6.1% higher at C$11.54 during pre-market trading in Toronto, within a 52-week range of C$4.91-C$12.00, for a market capitalization of C$6.2 billion . CDIs represent the beneficial interest in an underlying share, and are traded in a manner similar to shares in an Australian company listed on ASX. The exchange uses an uncertificated electronic system called CHESS for the electronic clearance and settlement of trades involving CDIs.by reducing the maximum value of common shares that may be sold from C$500 million to C$315 million.
NexGen’s main development focus is the Rook I project, hosting the Arrow discovery from 2014, considered to be the largest development-stage uranium deposit in Canada.for the proposed mine, making it the first approved greenfield uranium development in 20 years. Permitting to construct the underground mine and mill is underway.
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