Member Info for andmillsy

1. https://x.com/quakes99/status/1746666112291586319?s=20

Useful reminder of KAP agreement

"When $YCA shares trade at a premium to NAV, $YCA can then notify $KAP that they wish to exercise their $100M purchase option at that day's published Spot price.⛏️ Under the terms of their agreement, $YCA then has 2 weeks to launch a financing to raise the $100M needed to close the deal. If successful at raising the full amount (past history shows that $YCA cash raises are usually oversubscribed within 24 hours) they then close the deal 2 weeks later. Over that 2 week interval the Spot price may have risen significantly higher, or not, but the price that $YCA pays on delivery from $KAP will be the price set 2 weeks prior."

2. Sunday Times article - don't expect new info however but may be of interest for those who can't access directly.

https://drive.google.com/file/d/1WBI92YzuViaobffmfxnWlybPcRe0Fx-_/view?usp=drive_link

2.

Not much info but the publicity can help as we hopefully enter the media phase.

https://www.thetimes.co.uk/article/90c35fd0-7123-482f-a9b2-4b89da0cee09?shareToken=ffa441dcb1154cc4da23076920944ea7

"....This small investor is jolly glad I told you about uranium last September when I paid 486p for shares in Yellow Cake (YCA), a £1.3 billion London-listed business that owns more than 20 million pounds of the metal, which equals almost 15 per cent of the annual global supply. Back then, I said: “The price could continue to rise if more countries decide to place greater emphasis on energy independence or carbon-free self-sufficiency.

Since then, YCA’s share price has surged, hitting 632p on Monday, when I bought some more. Priced at 696p on Friday, they are now my tenth most valuable holding

I'm a bit concerned that YCA may not get delivery in H1 24 of the last purchase.

BUT the impact on NAV is quite minimal c2%

https://twitter.com/andmillsy/status/1744765616244896022?t=vaVD4s5xWnfIOEwvm6PQDg&s=19

Thanks for sharing those tweets. All this increased uncertainty on supply, imho, heightens the likelihood of YCA being taken over.

I'm surprised the trading companies -likes of Vitol, Trafigura, Glencore, Cargill haven't entered the Uranium market.

I got same answer as you.

I've looked a bit more at the tracker particularly the sheet entitled "backup" which does the number crunching.

The 56.2 cash raised (actually 56.165388) is a bit of a rough estimate and not actually disclosed by Sprott as far as I can tell.

Take a look at backup sheet row 631.

The number of units issued is known at 2,341,200 and disclosed by Sprott but the issue price is assumed to be at closing price 23.99. See formula in cell AB631.

On a day when ATM was active throughout and share price was up c7% this is a bit too crude.

If it's out by c2% which is very possible and they therefore raised c$1mil less then it takes purchase price to c$103/lb.

Snooz

Kevin Bamborough has a perspective in short lot of poor contracts

https://twitter.com/BambroughKevin/status/1746199763786125372?t=735l7joWVbM0ktixAMCxwg&s=19

From Quakes

@Sprott Physical #Uranium Trust ticker $U.UN on #Canada's TSX traded over 6.6 Million shares today across all Canadian exchanges🔊 with its ATM running hot.🔥🏧💵 Appears #SPUT may have raised over C$100💰🤠🐂 with Goldman Sachs biggest net buyer of 1.23M shares worth C$39M!😲

Sput closed up 7% at 32.15. interesting to see later if still at premium to NAV for Monday.

Interested picking up ?

Thanks for the KAP link YCA_700p .... if that represents your target its damn close

Just got back from dinner and couldn't believe my eyes !

Snooz not really sure but seems like they may have a lot of "poor" contracts and they say "As the market improves, we expect to continue to layer in volumes capturing greater upside using market-related pricing mechanisms."

No Empress typically 2months after qtr end - year end takes longer however.

Prior announcments from Empress can be seen here and there is a release date stated on Manaagemnt Discussion blurb which is produced each quarter

https://empressroyalty.com/investor/financials/

Your second question shoiuld be directed to Joel at Xtract.

9450/9550 Numerco

Early doors movement - not that usual - interesting.

**** Unusual imho to see Indic (94.20) beyong the ask at 94.00 - move incoming ?

Jan-24 CVD 92.75 94.20 0.75 94.00 CMO

Feb-24 CVD 93.00 94.39 0.75 94.00 CMO

Mar-24 CVD 93.00 94.62 0.76 94.00 CMO

Apr-24 92.75 94.91 0.76 94.70 IND

Berenberg increased target to 744p from 657p.

Would be interested to know if they assume this from increased U price, closing NAV gap or some combi of both factors.

For almost the last year I have attempted to keep track of YCA v SPUT discount using the data from Snooz excellent spreadsheet and the SPUT website.

The googlesheet has been running grabbing the data but I haven't been very vigilant in maintaining it. Sometimes it has gone a bit wild. I have tried to clean it up a bit and sharing the sheet here.

Seems that since Feb the average (measured 2x per day and 7 days per week) YCA discount has been 10% and SPUT 6%.

I was hoping to get some more indications on whether SPUT discount is leading indicator of YCA discount but not got very far in that analysis.

Sharing the raw data here in case anyone has better data analysis skills than I have - proviso is if you'll kindly share any conclusions you find !

https://docs.google.com/spreadsheets/d/e/2PACX-1vQrhCxPf9KmdOe4yqfLvRWgQwHD41NOFrtTyYAxXauptsZm8IJayCDOoS3_G3OGQDXmgzANjRc7Hgj6/pubhtml

Interesting insights

https://www.youtube.com/watch?v=7Fw4jAfqtgc

Bit more 91.25/93.25 numerco

Mafia9 take a look at the right hand side of the spreadsheet https://tinyurl.com/YCA-U308

This gives a view of NAV for various spot prices.

Biggest variable is discount to NAV but this can and has flipped to premium at which point YCA have often raised funds to acquire more Uranium. GBP / USD is another variable to be aware of.