Yellow Cake PLC DELIVERY OF 1,350,000 LB OF U3O8 (2610O)
02 October 2023 - 5:00PM
UK Regulatory
TIDMYCA
RNS Number : 2610O
Yellow Cake PLC
02 October 2023
2 October 2023
Yellow Cake plc ("Yellow Cake" or the "Company")
DELIVERY OF 1,350,000 LB OF U(3) O(8)
Yellow Cake, a specialist company operating in the uranium
sector holding physical uranium for the long term, is pleased to
announce that, on 30 September 2023, it took delivery of 1,350,000
lb of U(3) O(8) from Kazatomprom at the Cameco storage facility in
Canada.
The delivery is pursuant to the previously announced exercise by
the Company of its 2022 uranium purchase option under its Framework
Agreement with Kazatomprom to purchase 1,350,000 lb of U(3) O(8) at
a price of USD48.90/lb for a total consideration of USD66,015,000.
Kazatomprom delivered the U(3) O(8) in accordance with the agreed
schedule.
Yellow Cake currently holds 20 ,155,601 lb of U(3) O(8) in
storage in Canada and France .
__________________
ENQUIRIES:
Yellow Cake plc
Andre Liebenberg, CEO Carole Whittall, CFO
Tel: +44 (0) 153 488 5200
Nominated Adviser and Joint Broker: Canaccord Genuity Limited
Henry Fitzgerald-O'Connor James Asensio
G ordon Hamilton
Tel: +44 (0) 207 523 8000
Joint Broker: Berenberg
Matthew Armitt Jennifer Lee
Detlir Elezi
Tel: +44 (0) 203 207 7800
Financial Adviser: Bacchus Capital Advisers
Peter Bacchus Richard Allan
Tel: +44 (0) 203 848 1640
Communications Adviser: Powerscourt
Peter Ogden Molly Melville
Tel: +44 (0) 7793 858 211
ABOUT YELLOW CAKE
Yellow Cake is a London-quoted company, headquartered in Jersey,
which offers exposure to the uranium spot price. This is achieved
through its strategy of buying and holding physical triuranium
octoxide (" U(3) O(8) "). It may also seek to add value through
other uranium related activities. Yellow Cake seeks to generate
returns for shareholders through the appreciation of the value of
its holding of U(3) O(8) and its other uranium related activities
in a rising uranium price environment. The business is
differentiated from its peers by its ten-year Framework Agreement
for the supply of U(3) O(8) with Kazatomprom, the world's largest
uranium producer. Yellow Cake currently holds 20.16 million pounds
of U(3) O(8) , all of which is held in storage in Canada and
France.
FORWARD LOOKING STATEMENTS
Certain statements contained herein are forward looking
statements and are based on current expectations, estimates and
projections about the potential returns of the Company and the
industry and markets in which the Company will operate, the
Directors' beliefs and assumptions made by the Directors. Words
such as "expects", "anticipates", "should", "intends", "plans",
"believes", "seeks", "estimates", "projects", "pipeline", "aims",
"may", "targets", "would", "could" and variations of such words and
similar expressions are intended to identify such forward looking
statements and expectations. These statements are not guarantees of
future performance or the ability to identify and consummate
investments and involve certain risks, uncertainties and
assumptions that are difficult to predict, qualify or quantify.
Therefore, actual outcomes and results may differ materially from
what is expressed in such forward looking statements or
expectations. Among the factors that could cause actual results to
differ materially are: uranium price volatility, difficulty in
sourcing opportunities to buy or sell U(3) O(8) , foreign exchange
rates, changes in political and economic conditions, competition
from other energy sources, nuclear accident, loss of key personnel
or termination of the services agreement with 308 Services Limited,
changes in the legal or regulatory environment, insolvency of
counterparties to the Company's material contracts or breach of
such material contracts by such counterparties. These
forward-looking statements speak only as at the date of this
announcement. The Company expressly disclaims any obligation or
undertaking to disseminate any updates or revisions to any forward
looking statements contained herein to reflect any change in the
Company's expectations with regard thereto or any change in events,
conditions or circumstances on which any such statements are based
unless required to do so by applicable law or the AIM Rules.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
MSCDZMGGMMDGFZM
(END) Dow Jones Newswires
October 02, 2023 02:00 ET (06:00 GMT)
Yellow Cake (LSE:YCA)
Historical Stock Chart
From Apr 2024 to May 2024
Yellow Cake (LSE:YCA)
Historical Stock Chart
From May 2023 to May 2024