Member Info for andmillsy

Report could/should be way more transparent - no idea why production is only up until May. We already know H1 production courtesy of Empress.

Joining some dots

Profit share = £1,669 @ c$1.25 = $2.112 for H1 2023

This is XTR 23% share so overall operating profit for FB = $9.185,000

Production per Empress in H1 was 340kg (see my earlier posts) = 10,931 Troy Oz

So operating profit per oz = $840 per oz. I would assume average gold price of c$1900 so operating cost just over $1000 per oz which is better than I was expecting as included ramp up period.

Its not a bad result but why not make it transparent and promote this ?

"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

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.

" Under the terms of the

68

Kazatomprom Supply Agreement, the spot price is set (using market indicators) two weeks

prior to any fundraise that the Company will undertake to fund such acquisition, enabling the

Company to purchase the U3O8 at an undisturbed price. The price will be paid after delivery

and each delivery will take place by book transfer at one of the Conversion Facilities (at the

election of the Company)."

There is a lot more detail in the listing document which can be found

https://www.yellowcakeplc.com/wp-content/uploads/2019/03/Yellow-Cake-Admission-Document.pdf

"Use of Proceeds : The Company primarily intends to use the proceeds of the Placing to fund the Kazatomprom Purchase. In addition, the Company will retain sufficient proceeds of the Placing to pay certain costs associated with the Placing, for working capital and general corporate purposes and to fund opportunistic purchases of U3O8 for value in the spot market." However it has been a while from my recollection since we purchased on spot. Would be nice to see a premium to NAV and a sale of treasury shares to get more fire power for spot purchase.

Snooz - unsue but will look around - I think Quakes made reference in the past but he wasn't quoting specifics from a contract.

When will you kindly update the NAV sheet to reflect this ? WIll it be after RNS in a few days confirming the purchase contract ? Thanks.

SGD27 - being able to buy below 550 was a surprise and hasn't lasted.

£100 mil raise target for 1.5 mil lbs at $65.50

Check the rns I'm wrestling with my phone . .

News from Quakes and others.

Russia's #Nuclear reactor fuel maker & #Uranium procuring state-owned enterprise Rosatom💂 has apparently put out a #U3O8 market Request seeking to acquire more uranium!🌎⚛️⛏️🛒🇷🇺 Doesn't get much more bullish than that!🤠🐂 So much for talk of an oversupplied Eastern market.🏜️

And discount widens to 8%.

Sput looks at about 1.5% discount from rough calculation.

Currently can buy at just below 550

Jay053... not a lot tbh. Bit of dialogue in the comments on the article.

"Unfortunately, the only tried and tested alternative, nuclear power, has been regarded as a no-no by many folk since the disaster at Fukushima, Japan, more than a decade ago.

But tsunamis are less of a worry in Europe than the Ukraine war, prompting some reappraisal of nuclear power and rising demand for the fuel that creates it, uranium. Step forward, Yellow Cake (YCA), which is another name for uranium oxide, and a £1 billion fund that yields no income but also avoids any exploration, mining, or processing risk because it concentrates on owning 18.8 million pounds of the stuff.

I paid 486p earlier this month for YCA shares that cost 549p on Friday. The price could continue to rise if more countries decide to place greater emphasis on energy independence or carbon-free self-sufficiency.

Equally, uranium supplies might also be squeezed if the Ukraine war affects exports from Kazakhstan, the Russian ally that produces 43 per cent of global supply, or the military coup in Niger, another big producer. No wonder some folk claim that geography — or geology — is destiny and that energy is the economy.

Either way, one thing is absolutely certain: winter is coming."

Sput bought 100k

Did that shift the market?

If so they still have $50m plus to deploy

There must be other buyers for that level of jump?

My exit for core holding was was $80 and aspiration was 5% discount.

Now I don't know....

Numerco moved up too

6775/6975

68.00 / 70.00 on Uranium Markets up 2.00

SPUT out of the blocks strongly this morning - lets see if that give spot U another push.

Thanks for the link to the full economist article.

It was certainly easier to trade in range -10% to -5%. Range now seems to be -5% to -2.5% with occasionall blips outside. Being out overnight seems a risk with U price volatility.

Recent GBP weakness v USD is increasing the GBP NAV and pushing the discount higher - notable today.

Trying to figure out when to trade. I sold some yesterday I had at 534. Only read this afterwards ....

https://x.com/Borg74/status/1704585424297963973?s=20

Sput at +1.6%

YCA last night at -5%

https://www.prweb.com/releases/tradetechs-uranium-spot-price-climbs-to-12-year-high-as-market-prepares-for-higher-demand-301931145.html

"The expectation for higher demand, combined with signs that the uranium production sector could contract further, have led spot uranium sellers to resist reducing their offer prices, with buyers exhibiting a willingness to pay higher prices," said TradeTech President Treva Klingbiel.

On the move up again 6575 6675

Will be interesting to see if sput at premium and if they pushed price up...