08:31 AM EDT, 08/06/2025 (MT Newswires) -- NexGen Energy ( NXE ) edged up in New York pre-market trading on Wednesday after reaching an offtake agreement to supply an unnamed major U.S. utility with five-million pounds of uranium from its Rook I project in northern Saskatchewan.

The company said the agreement to supply one-million pounds of uranium annually over five year doubles commitments for uranium from the development-stage project, where it is planning a $2.2 billion underground mine and mill for the project's Arrow deposit. It reached a commitment for a total five-million pounds of uranium sales from a group of U.S. utilities in December and said it is currently in talks with "multiple entities" for other offtake agreements.

NexGen said the agreement included market-related pricing at time of delivery but did not offer specific details.

"NexGen's stated strategy simply optimizes the value and return on each pound produced. It reflects Rook I's relative technical simplicity and high production volume certainty, which provides our utility clients confidence in the delivery of their future fuel requirements. At the same time, it provides NexGen shareholders unprecedented industry leading leverage to prices at the time of those deliveries.," Chief Executive Leigh Curyer said in a release.

The company's shares were last seen up US$0.06 to US$7.00 premarket. They closed up $0.63 to $9.56 Tuesday on the Toronto Stock Exchange.