Business
Delivery of 1,526,717 lb of U3O8
Delivery of 1,526,717 lb of U3O8.
About this update from Yellow Cake Plc
[{"type":"text","content":"\n\n4 June 2024\n\n \nYellow Cake plc (\"Yellow Cake\" or the \"Company\")\nDelivery of 1,526,717 lb of U3O8\n \nYellow Cake, a specialist company operating in the uranium sector holding physical uranium for the long term, is pleased to announce that, on 3 June 2024, it took delivery of 1,526,717 lb of U3O8 from Kazatomprom at the Orano storage facility in France.\nThe delivery is pursuant to the previously announced exercise by the Company of its 2023 uranium purchase option under its Framework Agreement with Kazatomprom. In October 2023, the Company exercised its right to purchase 1,526,717 lb of U3O8 from Kazatomprom at the then prevailing price of USD65.50/lb for a total consideration of USD100.0 million. Kazatomprom delivered the U3O8 in accordance with the agreed schedule.\nYellow Cake currently holds 21,682,318 lb of U3O8 in storage in Canada and France.\n__________________\n \n \nENQUIRIES: \n\n\n\n\n \nYellow Cake plc\n\n\n\n\n\n\n\n\n\n\nAndre Liebenberg, CEO\n\n\nCarole Whittall, CFO\n\n\n\n\n\n\n\nTel: +44 (0) 153 488 5200\n\n\n\n\n\n\n\n\n\n\nNominated Adviser and Joint Broker: Canaccord Genuity Limited\n\n\n\n\n\n\n\nJames Asensio\n\n\nHenry Fitzgerald-O'Connor\n\n\n\n\n\n\n\nAna Ercegovic\n\nTel: +44 (0) 207 523 8000\n\n\n\n\n\n\n\n\n\n\nJoint Broker: Berenberg\n\n\n\n\n\n\n\nMatthew Armitt\n\n\nJennifer Lee\n\n\n\n\n\n\n\nDetlir Elezi\n\n\n\n\n\n\n\n\n\n\nTel: +44 (0) 203 207 7800\n\n\n\n\n\n\n\n\n\n\nFinancial Adviser: Bacchus Capital Advisers\n\n\n\n\nPeter Bacchus\n\n\nRichard Allan\n\n\n\n\nTel: +44 (0) 203 848 1640\n\n\n\n\n\n\n\nCommunications Adviser: Powerscourt\n\n\n\n\n\n\n\n\n\n\nPeter Ogden\n\n\n\n\n\n\n\n\n\n\nTel: +44 (0) 7793 858 211\n\n\n\n\n\n\n\n\n\n\n \n \nABOUT YELLOW CAKE\nYellow 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 (\"U3O8\"). 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 U3O8 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 U3O8 w...