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C'mon yca close that NAV gap...
Numerco now 7650/7800. Things are moving fast!
https://numerco.com/NSet
Seems SPUT ATM active and with good volume as well
Or utilities should!
Im in Fiji so at 11pm 15/11 uk time numerico showing new spot high quote of 74.50/76.25. No new SPUT units issued, but still on small premium so guess they are trying to buy bit more. Goid old YCA still on sad 10% discount. What is this same old UK stock depression!!!! SPUT should be buying YCA!!!
7375/7475
Anticipating Sput buying?
$10m raised by SPUT - no purchases
7350/7450
Lets see if spot gets a further push up currently Spot Uranium: 7350/7400
I'm sure I got the same figure as you the morning after they reported 150k purchase.
I think they may have updated now..
42,495 -31,525 = 10,970 so $73/lb
I've ignored daily management fees.
The prior 100k lot seemed high price - greater than 76/lb
Very opaque
The SPUT tracker implies they paid $72.60 for those 150lb which seems a bit odd or Numerico is completely misleading
150k lbs purchased
Also 25c off spot 7375/7475
This was intriguing read between Kuppy and Quakes
Kuppy
@hkuppy
·
2h
Someone please correct me if I’m wrong here, but $CCJ plans to buy 11-13m lbs of U in 2023. So far, they bought 5m. So there’s 6-8m of spot purchases planned?? Some will come from Inkai in Q4, but there’s still a LOT of spot purchases planned for Q4…
John Quakes
@quakes99
Yes, and as Grant explained they can strategically increase the ratio of Spot #uranium buying in order to drive up the Spot price, which will then increase their future revenue on the market referenced pricing for their entire delivery portfolio. Take a small hit for a big win.
Yes thats the -0.08 in my calculation. Which ever way seems to be a struggle for them to buy a meaningful amount
No worries and thanks for the clarification.
To get the price paid you also need to make an assumption about the daily decline in cash for management fees - if you look at other days when SPUT didn't make a purchase of raise funds you can get an idea of the daily cost. Seems to be c60-80k small in relation to the size of the purchase however. I used the same source as you e.g. the sput tracker.
Isnt it 50.303-42.579-0.08/0.1=$76.44 based on https://docs.google.com/spreadsheets/d/1cH_2BM6T48FJDP8ShHBL9IRGFbR99ChH_SPSAWRGvt0/edit#gid=532762655
What I meant was the NAV U3O8 on https://www.sprott.com/investment-strategies/physical-commodity-funds/uranium/ is $73.50 . However I made a mistake as SPUT used to also own 300,000 lb of UF6 which seems to have disappeared and i hadn't noticed. So without that NAV is $74. apologise
Anyone else having issues with getting yellowcakeplc.com to load correctly and display implied U price in the green box on right of screen?
Just throwing error messages for me. Strangely works if I use an incognito session.
Don't want to think the bargain implied U price being offered by YCA isn't being fully marketed !
Masplin - what's your source ? https://numerco.com/NSet still showing 74/75 and then 74/76 for Feb 24.
Useful interview with focus on tight market and drivers for future price increase
https://www.cruxinvestor.com/posts/uranium-bull-run-procurement-strategies-on-demand-surge-and-market-new-phase-on-the-next-6-months-4321
Oddly value of U3O8 seems to be off around $73.50
Sput bought 100k lbs.
Always unclear how much they paid.
Looking at cash reduction and assuming daily management fees c80k then it's about $76/lb which was the ask for Feb24
7400/7500
Https://youtu.be/dSUtAhvodHs?feature=shared
Quite wide ranging and interesting interview.
From 6m30 - utility action including analyst view on $90 + per lb
Production challenges including Niger and adding volatility to spot price.
16min30 illustrates current supply gap 150 to 300 mil ramp required
22min30 about Kaz and supply route and differential pricing for this supply point.
When To Exit The Uranium Trade - Fabi Lara & Steve Mueller. An interesting dicussion between two people who are very knowledgeable while not claiming to have all the answers:
https://www.youtube.com/watch?v=D1EtqEzj5Qw
(But the answer is probably not yet for quite a while.)
I think the answer is about 6.19 versus 6.24 based on below but I can't update the google sheet - for obvious reasons !
lbs 20,155,601 (21682318 - 1500000) remove future inventory
price 74.00
fair value 1,491,514,474
cash 133,850,000 35.6 plus (1500000x65.50) Oct cash plus cost of future inventory
NAV 1,625,364,474
fx 1.2117
NAV GBP 1,341,391,825
Shares 216,856,447
NAV per share 6.19