4th Jun 2024 13:21
Yellow Cake PLC - Jersey-based uranium investor - Says on Monday it took delivery of around 1.5 million pounds of U3O8 from Kazatomprom at the Orano storage facility in France. U308 is a compound of uranium. Explains the delivery is pursuant to the previously announced exercise of its 2023 uranium purchase option under its framework agreement with Kazatomprom. In October 2023, Yellow Cake exercised its right to purchase 1.5 million lb of U3O8 from Kazatomprom at the then prevailing price of USD65.50 per lb for a total consideration of USD100.0 million. Kazatomprom delivered the U3O8 in accordance with the agreed schedule. Yellow Cake currently holds 21.7 million lb of U3O8 in storage in Canada and France.
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By Jeremy Cutler, Alliance News reporter
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