Yellow Cake, a specialist company operating in the uranium sector with a view to hold long term physical uranium ( “U3O8“), is pleased to announce that following the placing and subscription of approximately 76 million ordinary shares (the “Offering”) and admission to the AIM market of the London Stock Exchange (the “Admission” together with the Offering, the “IPO”), 8.1 mmlb of uranium has been received from Kazatomprom, which is stored at Cameco Corporation’s Port Hope / Blind River facility in Ontario, Canada.
Yellow Cake’s strategy is to be a long term holder of uranium and intends to hold and grow its level of uranium ownership over time. Yellow Cake believes the recent emerging theme of supply side discipline in the uranium market and the industry cost structure will be supportive of this strategy.
Andre Liebenberg, CEO of Yellow Cake, said:
“We would like to thank Kazatomprom for its strong support as a reliable long-term strategic supplier, thereby contributing to the highly successful IPO of Yellow Cake.”
Riaz Rizvi, Chief Strategy and Marketing Officer of NAC Kazatomprom JSC said:
“Yellow Cake’s successful IPO is another positive outcome in the uranium market, and we are pleased to see the involvement of institutional investors, indicating confidence in the long term prospects of the uranium market.”
Source: London Stock Exchange