Two uranium projects in Saskatchewan’s Athabasca basin moved closer to construction this week, with NexGen Energy (TSX: NXE; NYSE: NXE; ASX: NXG) reporting strong interest from lenders in funding its $1.3-billion project and Fission Uranium (TSX: FCU; US-OTC: FCUUF) submitting an application for construction of a new mine and mill only 3 km away.
On Monday, NexGen Energy said financial institutions have expressed interest in lending it more than US$1 billion to build its Rook I uranium project in northern Saskatchewan.
The non-binding expressions of interest from unnamed commercial lenders and export credit agencies are in the form of available debt for Rook I, subject to financing terms and conditions, due diligence and documentation.
The company expects to finalize financing in the fourth quarter.
Its feasibility-stage Rook I underground project hosts the high-grade Arrow deposit and sits on the southwestern edge of the Athabasca basin.