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NexGen Energy Ltd. recently reported that its 2025 Patterson Corridor East drilling campaign significantly expanded both the overall uranium mineralized footprint and the high-grade subdomains, completing the largest drilling program in the Athabasca Basin that year and launching an even larger 2026 exploration initiative including inaugural work at the SW3 land package.
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The scale of this program and the geological similarities highlighted between Patterson Corridor East and NexGen’s Arrow deposit underline how ongoing drilling is reshaping the company’s resource potential and broader exploration pipeline.
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With the shares posting a 10.86% seven-day return, we’ll assess how the expanded high-grade mineralization footprint at PCE influences NexGen’s investment narrative.
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To own NexGen today, you have to believe that Rook I will ultimately transition from a permitting-stage asset into a producing uranium mine, and that satellite discoveries like Patterson Corridor East can deepen that project pipeline rather than simply consume capital. The latest PCE update, with the largest Athabasca drilling program of 2025 and a bigger high-grade footprint plus a ramped-up 2026 campaign, feeds the bullish narrative around resource scale and long-term optionality, which helps explain the sharp recent share price move. In the near term, though, the key catalysts still sit with federal approvals for Rook I, progress on offtake and funding, and how quickly losses and ongoing equity issuance can be contained. The new drilling success adds geological momentum, but it does not blunt the financial and permitting risks.
However, investors should weigh that exploration momentum against the recent insider selling and continued losses. NexGen Energy’s shares have been on the rise but are still potentially undervalued. Find out how large the opportunity might be.
Six Simply Wall St Community fair values for NexGen span roughly C$7 to almost C$70, reflecting sharply different expectations. Set that wide range against a business still loss making and highly dependent on successful Rook I permitting and capital access, and it becomes clear why exploring multiple viewpoints really matters here.
Explore 6 other fair value estimates on NexGen Energy – why the stock might be worth less than half the current price!
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