06:38 AM EDT, 05/29/2024 (MT Newswires) -- NexGen Energy ( NXE ) overnight Tuesday said it completed its purchase of around 2.7 million pounds of natural uranium concentrate (U3O8) for US$250 million.

To cover the cost, the company issued US$250 million in five-year, 9% per annum unsecured convertible debentures.

"Having access to 2.7 million pounds of uranium at surface in inventory will no doubt prove to be increasingly strategic given the recent passing of the Prohibiting Russian Uranium Imports Act into U.S. law," CEO Leigh Curyer said.

NexGen at last look gained 0.6% to US$7.99 per share in U.S. pre-market trading on Wednesday.