Yellow Cake PLC DELIVERY OF 1,350,000 LB OF U3O8 (2610O)

TIDMYCA

RNS Number : 2610O

Yellow Cake PLC

02 October 2023

2 October 2023

Yellow Cake plc ("Yellow Cake" or the "Company")

DELIVERY OF 1,350,000 LB OF U(3) O(8)

Yellow Cake, a specialist company operating in the uranium sector holding physical uranium for the long term, is pleased to announce that, on 30 September 2023, it took delivery of 1,350,000 lb of U(3) O(8) from Kazatomprom at the Cameco storage facility in Canada.

The delivery is pursuant to the previously announced exercise by the Company of its 2022 uranium purchase option under its Framework Agreement with Kazatomprom to purchase 1,350,000 lb of U(3) O(8) at a price of USD48.90/lb for a total consideration of USD66,015,000. Kazatomprom delivered the U(3) O(8) in accordance with the agreed schedule.

Yellow Cake currently holds 20 ,155,601 lb of U(3) O(8) in storage in Canada and France .

__________________

ENQUIRIES:

 
 
   Yellow Cake plc 
 Andre Liebenberg, CEO                     Carole Whittall, CFO 
 Tel: [phone] 
 
 Nominated Adviser and Joint Broker: Canaccord Genuity Limited 
 Henry Fitzgerald-O'Connor                 James Asensio 
 G ordon Hamilton 
 
 
  Tel: [phone] 
 
 Joint Broker: Berenberg 
 Matthew Armitt                            Jennifer Lee 
 Detlir Elezi 
 Tel: [phone] 
 
 Financial Adviser: Bacchus Capital Advisers 
 Peter Bacchus                             Richard Allan 
 Tel: [phone] 
 
 Communications Adviser: Powerscourt 
 Peter Ogden                               Molly Melville 
 Tel: [phone] 
 
 
 

ABOUT YELLOW CAKE

Yellow 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 (" U(3) O(8) "). 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 U(3) O(8) 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 U(3) O(8) with Kazatomprom, the world's largest uranium producer. Yellow Cake currently holds 20.16 million pounds of U(3) O(8) , all of which is held in storage in Canada and France.

FORWARD LOOKING STATEMENTS

Certain statements contained herein are forward looking statements and are based on current expectations, estimates and projections about the potential returns of the Company and the industry and markets in which the Company will operate, the Directors' beliefs and assumptions made by the Directors. Words such as "expects", "anticipates", "should", "intends", "plans", "believes", "seeks", "estimates", "projects", "pipeline", "aims", "may", "targets", "would", "could" and variations of such words and similar expressions are intended to identify such forward looking statements and expectations. These statements are not guarantees of future performance or the ability to identify and consummate investments and involve certain risks, uncertainties and assumptions that are difficult to predict, qualify or quantify. Therefore, actual outcomes and results may differ materially from what is expressed in such forward looking statements or expectations. Among the factors that could cause actual results to differ materially are: uranium price volatility, difficulty in sourcing opportunities to buy or sell U(3) O(8) , foreign exchange rates, changes in political and economic conditions, competition from other energy sources, nuclear accident, loss of key personnel or termination of the services agreement with 308 Services Limited, changes in the legal or regulatory environment, insolvency of counterparties to the Company's material contracts or breach of such material contracts by such counterparties. These forward-looking statements speak only as at the date of this announcement. The Company expressly disclaims any obligation or undertaking to disseminate any updates or revisions to any forward looking statements contained herein to reflect any change in the Company's expectations with regard thereto or any change in events, conditions or circumstances on which any such statements are based unless required to do so by applicable law or the AIM Rules.

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October 02, 2023 02:00 ET (06:00 GMT)