athabasca

A promotional photo from the home page of NexGenEnergy.ca which shows the Rook 1 project in relation to Fission’s PLS discovery.

Anticipation is building to find out what’s going on with NexGen Energy (TSXV:NXE). The company’s shares were halted before the opening bell this morning, and remain halted at press time (11:11amPST).

NexGen is currently one month into a drill program at their Rook 1 project in Saskatchewan’s SW Athabasca Basin, a property which is adjacent to and on trend with Fission Uranium’s (TSXV:FCU) shallow high grade PLS uranium deposit.

Fission’s market cap is approx. $375 million this morning, and NexGen’s is approx $29 million.

I’ve heard a rumour that NexGen has made a discovery, but it’s unreliable.

A bid for 1,070,500 shares in NexGen has appeared on the tape at $0.24, $.02 above the last trade. There are however 2,000,000 shares offered at the same price.

A call to the cell phone of NexGen CEO Leigh Curyer has not yet been returned this morning.

My guess (and hope) is that they have made a discovery, and that they are simply going back and forth with the Exchange over the contents of the news release.

I have a small long position in NexGen as a speculation and am biased towards a positive outcome.

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