Investor Presentaiton
Uranium market update
December 2023
Spot Market Overview(1)
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YELLOW CAKE PLC
Activity in the global spot market decreased during December 2023 with UxC reporting a total volume of 2.0 Mlbs., as compared to 4.9 Mlbs.
transacted in November and 4.5 Mlbs. during October. Total spot market volume for CY2023 now stands at 55.0 Mlbs.
While spot market volume proved minimal during December, the spot uranium price continued to strengthen significantly, reporting at US$91.00
/lb. as of 25 December, representing a US$10.00 /lb. increase during the month (12.4%) and reaching level last recorded at the end of 2007. The
spot uranium price rose US$43.25/lb. during CY2023, a gain of 91%
Long-Term Pricing (1)
The three longer term uranium price indicators showed further upward movement during December as the 3-yr Forward price rose from
US$79.00/lb. up to US$96.00 /lb., while the 5-yr Forward Price increased from the end of November level of US$84.00 /lb. up to US$101.00/lb.
at the end of the year. The Long-Term Price continued to slowly rise reaching US$68.00/lb. at the end of December, an increase of US$2.00/lb.
from the end of November
India(2)
On 25 December, Russia and India executed agreements in support of two additional Russian-designed VVER-1000 reactors to be built at
Kudankulam in the state of Tami Nadu in southern India. The two units will join an existing nuclear complex consisting of two VVER-1000 reactors
which entered commercial operation in 2014 and 2017, two additional units under construction since 2017, as well as a further two reactors
which entered construction in 2021
Korea(3)
Korea Hydro & Nuclear Power ("KHNP") announced the grid connection of Unit 2 of the Shin Hanul nuclear power plant in South Korea. The
national utility stated that the 1,350 Mwe pressurized water reactor was connected on 21 December, becoming the 28th operating nuclear unit
in the country. KHNP plans to construct two additional APR-1400 reactors at the site
Sources:
1) UxC Weekly; "UxC Price Indicators"; 8 January 2024
2)
The Hindu; "India, Russia ink pacts on construction of future power units of Kudankulam nuclear plant"; 27 December 2023
World Nuclear News; "Grid connection for second Shin Hanul unit"; 2 January 2024
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