NexGen Energy Registers C$17.5M Loss In Q2

NexGen Energy Ltd NXE reported Q2 FY23 EPS loss of C$(0.04) vs. C$(0.02) a year ago.

In USD terms, the company reported EPS of $(0.03), missing the consensus of $(0.01).

The company reported a net loss of C$(17.5) million vs. net income of C$17.6 million a year ago.

The company recognized a mark-to-market loss on the Convertible Debentures of C$2.7 million vs mark-to-market gain of C$28.5 million a year ago.

In Q2, operating cash outflow before working capital adjustments stood at C$(8.2) million. 

As of June 30, 2023, the cash balance stood at C$100.6 million, and marketable securities at C$7.2 million. 

In June, the company inked an Impact Benefit Agreement (IBA) with the Métis Nation – Saskatchewan Northern Region 2 (MN-S NR2) and the Métis Nation – Saskatchewan (MN-S) covering all phases of the Rook I Project.

Through 2023, the company plans to continue to advance the EA and licensing activities toward submitting the final EIS and licensing application to get a Uranium Mine and Mill License from the CNSC and continue engagement with Provincial and Federal regulators and communities.

Price Action: NXE shares are trading lower by 0.51% at $4.87 on the last check Wednesday.