11:40 AM EDT, 08/01/2024 (MT Newswires) -- NexGen Energy ( NXE ) was at last look on Thursday down 9.1% after company said construction costs for its Rook 1 uranium project in northern Saskatchewan rose to $2.2 billion, up from a March, 2021, estimate of $1.3 billion.

Along with the higher initial costs, the company now reports average cash operating cost over the life of mine estimated at $13.80 per pound of USO3, up from $7.50.

The company said "the change in costs reflects both inflationary changes as well as the significant advancement of engineering and procurement, optimized constructability, and enhanced environmental performance".

NexGen is in talks with various prospective financing entities and says it is receiving interest in "significant new sources of potential project financing" which would fully satisfy the capital requirements in combination with its current cash and liquid investments.

NexGen shares were last seen down $0.85 to $8.35 on the Toronto Stock Exchange.

Price: 8.37, Change: -0.83, Percent Change: -9.08