NexGen Energy Ltd. (ASX: NXG), an exploration and development stage entity engaged in the acquisition, exploration and evaluation and development of uranium properties in Canada, has released its condensed interim consolidated financial statements for the period ended September 30, 2026. The report highlights a significant shift in the company’s financial position as it transitions from exploration to the development phase for its flagship Rook I Project. Total assets for the period increased to C$2,531,795 thousand from C$2,472,933 thousand at December 31, 2025, driven by substantial reclassifications reflecting project advancement.
A key highlight from the statements is the reclassification of C$721,609 thousand in exploration and evaluation assets for the Rook I Project to ‘Assets under Construction’ within mineral property, plant and equipment. This move follows the establishment of commercial viability and technical feasibility for the project in March 2026, and the commencement of licensed construction activities on June 8, 2026. Consequently, mineral property, plant and equipment surged to C$979,026 thousand from C$7,565 thousand, underscoring the substantial capital investment into the project’s development. The company’s total exploration and evaluation assets decreased to C$161,796 thousand.
Financially, NexGen reported a reduced net loss of C$103,751 thousand for the nine months ended September 30, 2026, an improvement from C$266,847 thousand in the prior corresponding period. Basic loss per share also improved to C$0.16 from C$0.47. Cash used in investing activities saw a notable increase to C$232,968 thousand, largely attributable to expenditures on mineral property, plant and equipment as Rook I development accelerates. Current cash reserves stood at C$567,172 thousand, down from C$802,578 thousand at the end of the previous year, with convertible debentures decreasing to C$508,521 thousand due to a US$40 million conversion in September 2026 and further conversions subsequent to the reporting period.
