Q: Can you comment on how likely Nexgen is to get its Federal approval for the Rook 1 project?When is this decision anticipated?
5i Research Answer:
The permitting stage is nearly complete for Rook 1. Completion of the Federal Environmental Assessment (EA) is expected sometime in October 2024. The only remaining step after this is a Federal Comission Hearing followed by a 60 day review period where at the end if all is approved, NXE will receive its EA and Licence to Prepare Site and Construct. It seems unlikely that this whole process is finished by 2024 given the 60 day review period and needing to schedule the Federal comission hearing. NXE has said that establishing the hearing is a priority for 2024. Judging this timeline we think approval of Rook 1 sometime in the first half of 2025 is a conservative estimate.