NexGen Energy has started construction at its Rook I uranium project in Saskatchewan and plans to raise $1 billion within the next nine months through a mix of prepayment agreements, debt finance and direct project equity. CEO Leigh Curyer said the company is sharing technical information and talking regularly with BHP about the project, while stopping short of confirming any equity deal. Two sources familiar with the matter said BHP examined a possible NexGen acquisition last year under previous CEO Mike Henry, and BHP's incoming CEO Brandon Craig has said he plans to take a "really good look" at uranium even as "scale was hard," according to an investor. The talks come as uranium demand expectations strengthen, with Canaccord forecasting demand will triple by 2035 from 2025 levels, helped by power demand from AI-driven data centres and government efforts to diversify energy sources after the Iran war. Rook I is targeted to start production by 2030 in the Athabasca basin, where BHP has also expanded its land position and where NexGen's market capitalisation has doubled to C$9.68 billion over the past year.