Biggest risks are a potential Rook1 capex overrun (already seen a big increase) and whether NXG are serious about progressing to construction phase, or maintaining the comfortable wicket they're on.
Arrow is sill the main game, and they're not even drilling it. They don't really need to because as Rick Rule commented, "there is zero deposit risk", pretty much a one in fifty year discovery. PCE is showing great promise and could well end up being a mine on its own.
Still not convinced it's a keeper just yet, but imo tradeable between $8.00 - $10.00, and I think it's worthwhile having 2.5-5% of a portfolio exposure to U in case the market switches back to risk on. U market is a tricky one, plenty been burnt from 2024. The commission hearings late this year/early next year could be a momentum builder.
NXG Price at posting:
$8.00 Sentiment: Hold Disclosure: Held
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