Yellow Cake Share Discussion Threads

[sea7] 04/5/2022 15:38

Dated 4th may




Toronto-based Sprott Asset Management is preparing to launch an ETF in Europe providing exposure to companies in the uranium mining industry.

The Sprott Uranium Miners UCITS ETF will list on London Stock Exchange in US dollars (URNM LN) and pound sterling (URNP LN) later in May.

[sea7] 01/5/2022 15:44

thanks mjneish

[mjneish] 30/4/2022 20:31

sea729 Apr '22 - 07:01 - 1172 of 1175

Thanks for taking the trouble to explain it. :)

[sea7] 29/4/2022 20:50

dated 29th april....Germany has thrown its weight behind demands to sanction uranium imports from Russia and other parts of Vladimir Putin's civil nuclear industry in retaliation for his invasion of Ukraine, five EU diplomats told POLITICO.

[sea7] 29/4/2022 15:49

restoring americas nuclear advantage - from 2020




Enable NRC to deny imports of nuclear fuel fabricated in Russia or China for national security purposes: The Working Group recognizes the importance of protecting the fuel fabrication subsector from erosion due to the strategic action of Russian or Chinese state owned enterprises. The NRC currently provides general licenses for imports of nuclear material, including from Russia and China. The Russian state-owned enterprise, TVEL, began a project in 2008 to develop replacement fuel for U.S.-origin reactors operating in the United States. While this path is not currently being pursued, TVEL could develop such replacement fuel in the near future. If this occurs, the Working Group supports swift action, via Executive Order to limit or ban the import of nuclear fuel fabricated in Russia or China, on national security grounds, in so far as fuel imports adversely impact the physical and economic security of the United States.

[bountyhunter] 29/4/2022 07:45

Buybacks continue...

Transaction in Own Shares

Yellow Cake, a specialist company operating in the uranium sector with a view to holding physical uranium for the long term, announces that, on 28 April 2022, it purchased 100,000 ordinary shares of GBP0.01 each in the Company (the "Shares") on the London Stock Exchange through Canaccord Genuity Limited, in accordance with the terms of its share buyback programme announced on 4 April 2022 (the "Programme"). The Shares acquired will be held in treasury.

[sea7] 29/4/2022 07:01

Volumes are thin in the spot market, with primarily traders moving material between each other at this time - historically and by that I mean over the last decade, there has always been enough material in the spot market for some end users to simply buy in the spot market - as that is not the case now because of sprott, there isn't the volume available, which means a trader can affect the price more easily if sprott is out of the market

With the reduced amount of spot pounds available, itochu can easily knock the price down, by selling their own inventory, which they then buy back based on the lower spot price from their supplier and sell on during the month should the price rise. If sprott is active in the market at the month end, as they have been, then ITOCHU do not have the muscle to make this trade work for them and they simply pay the higher price, whilst still being able to offload their own inventory to the likes of sprott for a higher price than they paid the supplier.

[mjneish] 28/4/2022 20:18

Very interesting. If you don't mind answering, how can Itochu have the power to knock the spot price down? What are they doing in order to bring this about?

[sea7] 28/4/2022 19:42

The amount of physical held by sprott/yellowcake and others, doesn't even come close to a years worth of actual uranium used in power generation.

As the term market gets going in re-contracting, they are going to be looking to secure supplies of at least a billion pounds of uranium collectively, to be delivered over a period of ten years. The term market won't even look at what is held by sprott etc, as they deal directly with the miners, such as cameco etc.

as for the recent pull back..sprott is out of the market, due to trading at sub nav. traders take advantage of this and knock spot lower, whilst positioning to arbitrage.

ITOCHU a Japanese uranium trader has an arrangement, whereby they buy uranium from Navoi mining and the price is decided on month end spot - with sprott out of the market, they are taking advantage of the low volumes to knock the spot price down, so that they can buy cheaply.

month end rebalancing also takes place, so we could be seeing some selling of YCA from some funds/etfs

[mjneish] 28/4/2022 18:56

I wouldn't pretend to understand these things, but worst-case scenario, what happens? They have to de-list, which means that shareholders get cash back in exchange for shares, which would mean a premium to the current price?

[riverman77] 28/4/2022 17:56

Rejection of the Sprott Physical Uranium Trust adds to my concerns that these businesses could face a major clampdown. Uranium is a mission critical asset and I could easily see increased political pressure to close them down, given they are essentially hoarding essential materials to push the price up.

[mjneish] 28/4/2022 17:38

A pull back was to be expected, but this is looking rather ridiculous. Can anyone suggest reasons for it?

[7kiwi] 27/4/2022 23:40

According to a speaker from the IAEA at the WNA forum today, US utilities are down to 16 months of inventory. That ought to be very bullish for Uranium as they rush to close long term contracts. European utilities down to 2 and a bit years.

IAEA recommends a minimum 2 years of inventory and EU likes to see 3+ years. Global instability perhaps pushes the minimum higher to maintain security of supply.

[yupawiese2010] 27/4/2022 22:24

Sprott Physical Uranium Trust has had its application for U.S. Stock Exchange Listing rejected.

[sea7] 27/4/2022 12:06

yes that is how I see it Kiwi

[7kiwi] 27/4/2022 10:15

New investor pres:

[7kiwi] 27/4/2022 09:39

sea7,

Isn't this just that the North Shore Trust URNM and changed to the Sprott Uranium miners? I would expect a mirror image TR1 shortly with SPURM taking on the holding of URNM.

[sea7] 26/4/2022 18:51

RNS - TR1 ETC down to zero is in relation to sprott...



Pursuant to the Plan of Reorganization between Exchange Traded Concepts Trust and Sprott Funds Trust, which became effective after the close on April 22, 2022, each shareholder of North Shore Global Uranium Mining ETF received shares of Sprott Uranium Miners ETF equal in aggregate value at the time of the Reorganization to the aggregate value of such shareholder's shares of North Shore Global Uranium Mining ETF. The Exchange also notifies the Securities and Exchange Commission that as a result of the above indicated conditions this security was suspended from trading on April 25, 2022.

[bmcb5] 26/4/2022 10:07

Not looked in for a few days as I’m away. Picked up a load more for the wife’s ISA.

[7kiwi] 26/4/2022 08:28

Long term enrichment prices jump massively this month. Conversion and raw U3O8 next dominoes to fall.

[yasx] 26/4/2022 01:10

Senator Manchin says he supports ban on Russian uranium imports

[7kiwi] 25/4/2022 23:03

Despite the carnage across the markets, Cannacord still bullish on Uranium.

Interesting analysis on the move from underfeeding to overfeeding. 15% increase in Uranium demand. Pdf linked to this tweet.

[sea7] 25/4/2022 19:57

financialpost.com/globe-newswire/sprott-asset-management-announces-acquisition-of-assets-relating-to-the-north-shore-global-uranium-mining-etf

As global governments increasingly turn to nuclear energy to address the dual challenges of achieving energy transition and energy security, we expect demand for uranium to remain strong,” added Mr. Ciampaglia. “Uranium mining is critical to the clean energy transition and URNM provides investors with access to producers, developers, exploration companies as well as vehicles that hold physical uranium.”

This transaction adds approximately $1.1 billion of energy-transition related assets to Sprott’s total Assets Under Management (“AUM”) and establishes Sprott as the largest manager of uranium investments in the world1 with approximately $4.5 billion in uranium related, energy-transition AUM, as of April 21, 2022.

[sea7] 25/4/2022 11:49

All of this points to a market that will feel increasingly tight to fuel buyers in 2022 which provides us with conviction to answer the age-old question from investors contemplating opportunities, “Why now?” In our view the past year was just the warm-up act for our uranium bull thesis, and 2022 through 2023 will provide the real fireworks.