Business
Annual Results for the year ended 31 March 2022
Annual Results for the year ended 31 March 2022.
About this update from Yellow Cake Plc
[{"type":"text","content":"\n \n \n \n 22 July 2022\n \n \n \n \n \n \n \n \n \n Yellow Cake plc (\"Yellow Cake\" or the \"Company\")\n \n \n \n \n Annual Results for the year ended 31 March 2022\n \n \n \n \n \n \n \n \n \n Highlights\n \n \n \n \n \n \n \n -\n \n \n \n \n Continued improvement in the market for U3O8 with the spot price increasing 89% from USD30.65/lb on 31 March 2021 to USD57.90/lb[1] on 31 March 2022.\n \n \n \n \n \n \n -\n \n \n \n \n Increase of 203% in the value of the Company's holding of U3O8 during the financial year to USD916.7 million1 as at 31 March 2022, as a result of the appreciation in the uranium price and a net increase in the volume of uranium held from 9.86 million lb of U3O8 to 15.83 million lb of U3O8.\n \n \n \n \n \n \n -\n \n \n \n \n Profit after tax of USD417.3 million for the year ended 31 March 2022 (2021: USD29.9 million).\n \n \n \n \n \n \n -\n \n \n \n \n Raised USD236.6 million (GBP171.7 million) during the financial year through share placings in June and October 2021, after raising USD138.5 million (GBP99.3 million) in March 2021. Applied the proceeds of the three placings to acquire 8.35 million lb of U3O8 during the financial year and an additional 0.95 million lb of U3O8 post year-end.[2]\n \n \n \n \n \n \n -\n \n \n \n \n Net asset value of USD1,069.0 million (GBP4.42 per share)[3] as at 31 March 2022 (2021: USD421.4 million (GBP2.38 per share)).\n \n \n \n \n \n \n -\n \n \n \n \n Completed a USD3 million share buyback programme following the year-end, repurchasing 566,833 shares between 4 April and 6 May 2022 (now held in treasury) at a volume weighted average price of GBP4.15 per share (USD5.27 per share) and a volume weighted average discount to net asset value of 10.4%, effectively acquiring exposure to uranium at a discount to the commodity spot price.\n \n \n \n \n \n \n -\n \n \n \n \n Holding of 18.81 million lb of U3O8 as at 21 July 2022 (including 2.97 million lb of U3O8 received post year-end) acquired at an average cost of USD31.11/lb.3\n \n \n \n \n \n \n -\n \n \n \n \n Increase of 47% in the value of the Company's holding of 18.81 million lb of U3O8 as at 15 July 2022 to USD860.4 million[4], relative to the average acquisition cost of USD585.1 million (USD31.11/lb).[5]\n \n \n \n \n \n \n \n \n \n \n \n \n \n Andre Liebenberg, CEO of Yellow Cak...