Business
Interim Report
Interim Report.
About this update from Yellow Cake Plc
[{"type":"text","content":"\n \n \n 7 December 2022\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Yellow Cake plc (\"Yellow Cake\" or the \"Company\")\n \n \n \n \n Unaudited Interim Financial Report for the six-month period ended 30 September 2022\n \n \n \n Yellow Cake, a specialist company created to exploit commercial opportunities in the uranium sector, including the purchase and holding of physical uranium for the long term, is pleased to announce its unaudited interim financial report for the six-month period ended 30 September 2022 (\"\n \n half-year\n \n \").\n \n \n \n Highlights\n \n \n \n \n \n \n \n ·\n \n \n \n \n Increase in the Company's holdings of physical uranium (\"U3O8\") during the half-year from 15.83 million lb of U3O8 to 18.81 million lb of U3O8.\n \n \n \n \n \n \n \n \n \n \n \n ·\n \n \n \n \n Decrease of 1% in the value of U3O8 held by Yellow Cake over the half-year from\n USD916.7 million[1]as at 31 March 2022 to USD907.4 million[2] as at 30 September 2022, resulting from a decrease in the spot price from USD57.90/lb[3]to USD48.25/lb[4] during the period, partially offset by an increase in the volume of uranium held.\n \n \n \n \n \n \n ·\n \n \n \n \n Decrease in net asset value from USD1,069.0 million as at 31 March 2022 to USD920.6 million as at 30 September 2022, as a result of the reduction in the value of U3O8 held by the Company.\n \n \n \n \n \n \n \n \n \n ·\n \n \n \n \n Increase in net asset value per share over the half-year from\n GBP4.42 per share[5]as at 31 March 2022 to GBP4.50 per share[6] as at 30 September 2022, with the reduction in net asset value in US dollar terms offset by the devaluation of sterling relative to the US dollar over the period.\n \n \n \n \n \n \n \n \n \n ·\n \n \n \n \n Loss after tax of USD145.5 million for the six-month period ended 30 September 2022, driven by a fair value loss of USD142.0 million on the Company's investment in uranium.\n \n \n \n \n \n \n ·\n \n \n \n \n During the half-year, Yellow Cake took delivery of 2.97 million lb of U3O8 under the following uranium purchase agreements. These purchases were funded with cash at bank:\n \n \n \n \n \n \n \n \n \n \n \n \n \n o \n The Company exercised its option with Kazatomprom to buy back 2,022,846 lb of U3O8from Kazatomp...