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Can buy YCA at 546.8- sput getting hammered down again
Ok, so everyone's gonna have to include sources for Spot price quotes, and make it clear they are quoting U3O8 or UF6 or what.
Maybe you have a typo, but where/why do you think it's 46.38?
Uranium Spot Price is at a current level of 46.38
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 U3O8 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 U3O8 at a price of USD48.90/lb for a total consideration of USD66,015,000. Kazatomprom delivered the U3O8 in accordance with the agreed schedule.
Https://www.youtube.com/watch?v=jkCvqU0eEfA
An interesting interview with Askar Batyrbayev, who until recently was CCO of Kazatomprom and is now on the Advisory Board for the new PFYN fund. He was giving away very little detail other than that it will probably be more wide-ranging than just U3O8 stacking and should be up and running by the end of the year.
More here:
https://www.pfyn.co/pfyn-capital-trident
PS Regarding the spot price, he says "with the right environment we might see 80 by the end of the year".
Brace for manic Monday sput down more than 4%
May be some bargains. I'm definitely buying at 10% discount to NAV
Quakes posted that urnm have just completed rebalance on LSE.
Here was there YCA holding at 28 Sep 7,906,787
https://sprottetfs.com/urnm-sprott-uranium-miners-etf/
222k UT at close - let's see where it opens on Monday...
Let's see what they report on Monday.
Could be or perhaps the ETF rebalancing. In the past you could sometimes pick some up with a stink bid near the sell but no luck today.
Not sure if it was that or early sput weakness which dragged us down. They were down 3.5% at one stage but clawing back the losses at the moment.
Or maybe I am overthinking, and it's a genuine sell at the issue price. :)
I suspect this is some player taking part in the issue yesterday, and then today allocating the shares from one account (e.g a bank's own account) into another (a customer's account). And something about the allocation means that it needs reporting?
Someone offloaded 1.45mil at 550p
Numerco $72.25/$73.95
Numerco $72.25/$73.50
I bought some more today, couldn't sit on my hands any longer.
Now that I have, we will probably see the long awaited correction to this rally.
I have kept some £ aside incase the price does move down.
Numerco 7150/7300
Quite :)
Oh well, will have to settle for $70/lb and still rising then ;)
"Russia has stopped Uranium exports to the United States"
https://www.scytalenews.com/rosatom-denies-stopping-the-export-of-russian-uranium-to-the-us/
Do not believe anything until xyz denies it™️ @DarthPutinKGB
JUST IN - Russia has stopped Uranium exports to the United States
Masplin
"In theory raising money at the same price as they buy Uranium woudl make no difference to NAV"
It is not the price of Uranium that is relevant here but the price relative to the discount to NAV and this must include all costs. It is good for the directors as the company has increased in size but not good for the old shareholders as this is a non accretive deal.
No doubt some of the new shares are being dumped on the market for a quick profit.
It also cast a shadow over the share price as this type of deal brings the SP down.
In theory raising money at the same price as they buy Uranium woudl make no difference to NAV if 1005 of the money raised buys uranium at that price. This time $25mio excess not reinvested woudl in theory have to buy at market price which woudl be a straight loss. so reduces NAV. Seems daft to raise more money at a discounted price unless you can buy the uranium at the same price!!!! i.e they should have only raise $100mio
Numerco price at $71.5 | $72.25
As a shareholder I have emailed YCA to express my disapproval of the deal based on the exclusion of current shareholders and NAV reduction.
If anyone else would like to send an email I have marked this as
For the attention of Yellow Cake Shareholders Investor Relations
And sent to
Yellowcake@powerscourt-group.com
Don't know if there a better email address as I could not find one but was advised to use this by Powerscourt
I have also stated I will now be voting against the company’s incentive plan as result of this action.
Thanks Snooz seems like there is smoke and mirrors on "value accretive" however overall I feel getting U at $65.50 and only having a 2% discount for a placing is a reasonable outcome. Trying to get my head around the (negative) impact of raising GBP to secure USD based purcahses at a very low point for GBP v USD.
>I think Quakes made reference
This tweet has the numbers providing the justification of issuing at 550p: https://twitter.com/quakes99/status/1707093612394070268
Am a bit unimpressed with this methodology as it can, and has, meant a reduction in NAV per share.
That said, I hope Andre asked KAZ if they'd being will to sell even more at that price - just because the option obliges them to sell up to that amount, it doesn't disallow them from selling more if they are willing.
Just noting that SPUT have added another 159,979 lbs U (was 61,845,847, now 62,005,826)
https://sprott.com/investment-strategies/physical-commodity-funds/uranium/