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(Alliance News) - Uranium investor Yellow Cake PLC on Monday said it expects activity in the sector to return to normal following a US decision on tariffs.
A week ago, Yellow Cake said a decision by the US not to place trade restrictions on the import of uranium into the country was a positive one.
"The Section 232 investigation resulted in a long period of uncertainty in the uranium market, with many market participants stepping back from uranium-related investments. We, therefore, welcome the decision by the US President not to implement new trade restrictions on uranium imports into the US," said Chief Executive Andre Liebenberg on Monday.
"We believe this decision will help alleviate uncertainty and perceived risks in the global uranium market. It will also encourage and support the re-engagement of market participants especially from purchasers, not only nuclear utilities but also financial buyers looking to accumulate physical inventories," he continued.
"We expect a measured return to trading activity, and increased end-user demand as contracts are renegotiated and stockpiles replenished. The long term investment case for uranium, and Yellow Cake, remains compelling."
As of June 30, Yellow Cake's net asset value was GBP1.28 per share, made up of 9.6 million pounds of uranium valued at a price of USD24.70 per pound.
Shares were 3.1% lower on Monday morning at 218.00 pence each.