Business
Half-year Report
Half-year Report.
About this update from Yellow Cake Plc
[{"type":"text","content":"\n \nRNS Number : 4108I Yellow Cake PLC 26 November 2018 \n\n26 November 2018\n \n \nYellow Cake plc (\"Yellow Cake\" or the \"Company\")\n \n \nInterim Financial Report for the period ended 30 September 2018\nSuccessful completion of IPO, 30%1 increase in value of uranium inventory\n \nYellow Cake, a specialist company operating in the uranium sector, is pleased to announce its maiden interim financial report for the period ended 30 September 2018.\nHighlights\n· Successful USD 200 million (GBP 151 million) capital raise in an oversubscribed IPO on the London Stock Exchange \n· Steady improvement in the market for U3O8, with the spot price increasing from USD 22.85/ lb2 to USD 27.35/ lb3 in the period from IPO to the end of September \n· Purchase of 8,091,385 lb U3O8 from National Atomic Company Kazatomprom JSC (\"Kazatomprom\") at IPO on 5 July 2018, at a price of USD 21.01/ lb under a ten-year framework agreement (\"Framework Agreement\")\n· Purchase of an additional 350,000 lb by Yellow Cake from Kazatomprom on 23 August 2018 at a price of USD 23.30/ lb\n· Total holding is 8,441,385 lb of U3O8, acquired at an average cost of USD 21.10/ lb against a spot price as at the end of September 2018 of USD 27.35/ lb3 \n· Value of underlying U3O8 has increased by 30% to USD 230.9 million as at the end of September 2018 relative to acquisition cost of USD 178.2 million. Since the end of September, the U3O8 spot price has increased further to its current level of USD 29.15/ lb4, increasing the value of Yellow Cake's U3O8 inventory to USD 246.1 million which is a 38% uplift to the acquisition cost\n· Net profit after tax of USD 44.2 million for the period ended 30 September 2018\n· Net Asset Value of GBP 2.39 (USD 3.12) 5 per share as at 30 September 2018\n· Since the end of September 2018, Net Asset Value has increased to GBP 2.49 (USD 3.16) 5 per share as at 31 October 2018\n1 As at 30 September 2018\n2 Weekly spot price published by Ux Consulting Company, LLC on 9 J...