REG - Yellow Cake PLC - DELIVERY OF 1,350,000 LB OF U3O8

Yellow CakeAnnouncement

02/10/2023 07:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20231002:nRSB2610Oa&default-theme=true

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
 Gordon 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 (mailto:rns@lseg.com)
 or visit
www.rns.com (http://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 (https://www.lseg.com/privacy-and-cookie-policy)
.   END  MSCDZMGGMMDGFZM