ceo.ca Billionaire backing for NexGen Energy
https://ceo.ca/@jameskwantes/billionaire-backing-for-nexgen-energy
NexGen's Arrow deposit, discovered in late 2013, is the largest undeveloped uranium deposit in the Athabasca Basin. It has an inferred mineral resource estimate of 201.9 million pounds grading 2.68% U308, including a high-grade core of 120 million lbs at 13% plus.
Keeping the Arrow deposit completely unencumbered was a key consideration for the company, NexGen CEO Leigh Curyer told analysts on a morning conference call. "We still don't know what we're onto at Arrow."
NexGen currently drilling a shoulder program of 7,500 metres; 6 to 8 drill rigs active for the summer season for a total of about 75,000 metres this year. None of that drilling is included in the MRE, published March 3.
CEF Holdings was established in 1974 by Li and developed into a diversified financial services company over its first 30 years with operations in banking, life insurance, stock brokerage, futures and merchant banking. Since 2000 CEF has gradually sold those businesses and become a cash-rich holding company focused on resource investments. Chairman and CEO is Warren Gilman.
The Ka-shing family are major backers of Husky Energy and CEF recently backed a deal by Aaron Regent's Magris Resources to buy the Niobec niobium mine in Quebec from Iamgold for an initial US$500 million.