In just two years, NexGen Energy has delineated the largest undeveloped uranium deposit in Saskatchewan's Athabasca Basin.
At 201.9 million pounds Inferred grading 2.63% U308, NexGen's Arrow deposit is already the third largest uranium deposit in the Basin (behind Cameco's producing McArthur River and Cigar Lake mines).
And NexGen is just getting started, its CEO Leigh Curyer told investors at CEO.CA's Subscriber Investment Summit in Toronto.
"Tremendous value creation can happen irrespective of commodity prices," said Curyer, pointing to the Voisey's Bay nickel discovery 23 years ago. "NexGen's story is one of those stories that only come around once in a generation."
The Arrow resource estimate is already substantially outdated, Curyer noted, because of some exceptional winter drill holes that aren't part of the resource.
NexGen's aggressive 2016 drill program includes infill drilling, stepouts and further testing of the Bow, discovered in early 2015.
Market cap: $444 million
Cash: $31 million
This is not investment advice and all investors need to do their own due diligence. Author owns NexGen shares.