Member Info for masplin

Didnt even flicker!

https://www.lse.co.uk/news/berenberg-raises-target-price-on-yellow-cake-187tkam4fvnptuc.html?utm_source=alerts&utm_medium=email&utm_campaign=2024-01-18&utm_term=news

Well if KAZ fail to deliver on a contract the market will go bananas. They would have t ocover in SPOT or pretty catstrophic

Isnt the 1H 24 new material that they would have ot raise money to exercise the option? So if it didnt happen no fund raising no materila nothing changes? However they have a right to exercise so KAZ has ot buy spot to fulfill. Isnt the exercsieprice lined ot the spot price anyway. Maybe I misunderstood the natre of the option.

Thanks for sanity checking.

Am I being dim here.

Cash previous day 18.179mio. Captial rasie 56.165 = 74.344 take away ~0.1mio running cost and balcne on 12/1 of 62.931 imples 11.313 or $113 per lb spent? Figures all from SPROTT tracker. I must have something wrong as seems a very high price. This calcuation has bene fine previously.

i wouldnt get too excited. yca is disconnected from spot and expect diso**** to widen out to 20% as we go up. 5% move spot = 2% move in yca. in some ways a slow grind is good, but does show everyone is already long

Price action is really rubbish. all the uranum assets feel like they are being dragged screaming high and struggle to hold on to their gains. feels liek a market where everyone is already long, but generally strong conviction so they aren't selling, but limited new buyers.

Shoudl be interesting in the mdia if we get bove $100 on spot. I've started buy some of the miner ETF and URC as feels like the spot is way ahead of the industry price wise. At some point the trade may be to sell the spot and buy the miners if theyt continue to lag. While spot just inches up each day it shows no sign of overextending. If it suddenly spike 20% that's a warning.

Still a 15% discount though!!!

Smells of financial manipulation then so be back in low 80s after Xmas

So who is it then? Shouldn't be Sprott.

I assume the spot price is being pushed by utilities and none of them are big enough to take out the whole company. Buying a bit doesn't help. Frustrating to be right, but also wrong!! Just have to be patient and see if this squeeze lasts into 2024 or its just a Xmas market phenomenon.

So the question is whether there is any mechanism that will close the discount? In theory the YCA managers could sell their stock of material at spot then use the proceeds to buy back the shares. However this reduces the size of the fund and they of course are reaping the benefits of the management fees. So cant imagine this happening willingly unless we get to say $150. Other alternative is some kind of shareholder action to force a dissolution, but again can't imagine this happening in the near term or even what the rules around this would be. Last option is an end user buying the company to release the uranium, but that is a pretty big amount of supply and other than the Chinese who else would have the resources.

So it seems until something sparks a fresh wave of investment from the financial community we are stuck watching the discount widen further and further. Everyone is long YCA and no one has appetite to buy more at even $75.

I assume SPUT has some mechanism to sell off their uranium or is it a similar position that rules only exist around trading at a premium and holding excess cash?

Be interested on any other thoughts as to why we cant see a 50% discount?

The financial instrument market seems pretty exhausted here. No new funds flowing in so the spot market is becoming a poor predictor. Will take a utility to just buy all YCA shares!!!

87/90 now

First time in a while the offer is miles away 83/86

The Houses passed it so still has to pass congress which wont be until next year. Secondly this mostly about enriched uranium not yellow cake so different step in the process. Thirdly everyone knew this was on the cards so already in the price. i.e. one of the reasons we are up here.

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!!!

The SPUT tracker implies they paid $72.60 for those 150lb which seems a bit odd or Numerico is completely misleading

According to AIC fees are now 3.1%!!!! So whats the big thing with having 25% of the portfolio in NexGen? these are guys with the Rook Project which is yet to come on line so I guess there is still considerable risk of them starting to produce. This sort of makes sense to have been trading at a premium when the price was low as this was pure optionality, whereas with uranium prices here there is a risk they dont get to produce in time to enjoy the current imbalance. seems there is a major funding risk to the project. Ok well good to try and understand the dynamics. i'll keep watching. thanks