Member Info for snooz

>8600/8800 @Uranium Markets

YCA_700p_2023, FYI, in case you hadn't noticed...

Valuing U₃O₈ assets at $88 puts the YCA NAV at 700p.

Also https://archive.ph/fCpsu

This might cheer up some ppl: "In addition the service agreements of three non-executive directors have also been terminated."

The energy voice article without popups: https://archive.ph/ilCrz

"Nordic Trustees" = the bond holders.

Am surprised to see Subsea 7 in there - they were in court over non-payment but dropped the case - which I assumed meant the monies owed to them had been paid.

The bit I'm very interested in understanding why those long-term prices are so far below spot prices, shame that article doesn't have anything convincing (to me):

> there are a few valid reasons for why the numbers are at least reported to be different.

>The monthly frequency of the contract prices and potential lags in the reporting can possibly explain part of why the contract price has been lower lately.

This backwardation has been in place for a couple of months now - it's not a lag in reporting.

>It is also important to remember that not all contracts are reported.

OK, even if it's not all, are there really _any_ being deals done in the last month for under $70?

> Another reason is that the reported price is usually the lowest bid, even if the price was made at a higher price point, with another supplier.

'X'

Andre in the FT: https://archive.is/h4eKY

Cameco published long-term prices well below short-term for the second month running:

https://www.cameco.com/invest/markets/uranium-price

Is this opinion (my opinion) fair? that is: Cameco's long term numbers are fiction/garbage.

>Your one of them

Who's one of what?

They can legit say something like "we see no foreseeable scenario that will give a return to share holders". But to blanket state there will not be is an overstep.

>There is no bond debt attributed with IOG plc subsidiaries, therefore the subsidiaries are not going into administration

You can go read the bond terms and guarantees on the IOG website, or the charges listed on companies house against IOG plc. The bonds are secured against the assets of the subsidiaries as well as IOG plc

>legally separate entities, which means they have their own ownership structure.

AFAIK, separate entities but owned by IOG Plc. (?)

Subsidiaries of IOG PLC that are listed in the bondholders guarantee are:

IOG Infrastructure Limited

IOG North Sea Limited

IOG UK Limited

i.e. the bonds are secured against their assets in addition to any of IOG Plc. The directors aren#t going to be able to "protect" their assets from the bondholders, though they may from any other creditors.

There may be subsidiaries - you'd have to wade through these docs: https://find-and-update.company-information.service.gov.uk/company/07434350

IOG plc owns the subsidiaries, and is now managed by the Administrators.

The subsidiaries are managed by the same directors as before.

The days before the 13th Sept RNS, they were in court over non-payment of money due to Subsea7.

>Is this a telephone number ?

Whatsapp

Cameco have released their monthly data (30/09/2023) https://www.cameco.com/feeds/uranium-price

Short-term $71.58/lb

Long-term $61.50/lb

From memory Cameco define long-term as 9months+, but don't quote me on that.

Looking through the historical Cameco data, this backwardation only lasted 4 months when it last happened (when spot last peaked).

Selling the near-term for storage and buying the long-term seems another bit of sensible business in this market - especially for a company which is just going to hold it in storage otherwise.

They've just issued shares at 550p and bought Uranium at $65.50.

Selling some Uranium at $70+ and buying the shares at less than 540p seems a very sensible bit of business.

> reading rubbish on a bb,

The rubbish that you were posting!

Poorinvestor - like it or not, when people posted messages that encouraged readers to ignore immediate cashflow and short-term liability issues and focus on increasing gas prices and winter forecasts, that is an encouragement to buy.

In which case - sorry LesBoy - I thought you were trying to encourage the price down, but actually it's just the source you are looking at is showing you the 31st August price.

This is a popular source for intra-day updates of "Spot" U3O8 : https://numerco.com/NSet , or the front page of https://www.yellowcakeplc.com/ .

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?

Or maybe I am overthinking, and it's a genuine sell at the issue price. :)