Yellow Cake Plc Uranium Market Overview
92
U
YELLOW CAKE PLC
Estimated net asset value
On 13 August, the ordinary shares of Yellow Cake closed on the LSE at a value of GBP 2.61 per share,
which represents a 9% premium to the net asset value of GBP 2.39 per share.
Investment in Uranium
Units
Uranium oxide in concentrates ("U3O8") (1)
(A)
lb
13,855,601
U3O8 fair value per pound (2)
(B)
US$/lb
30.68
U3O8 fair value (2)
(A) x (B) = (C)
US$ mm
425.1
Uranium derivative liability(3)
(D)
US$ mm
(3.4)
Cash and other net current assets/(liabilities) (4)
(E)
US$ mm
87.3
Net asset value in US$ mm
Exchange Rate
(C) + (D) + (E) = (F)
(G)
US$ mm
509.0
USD/GBP
1.3853
Net asset value in £ mm
Number of shares in issue less shares held in treasury
(F)/(G) = (H)
(1)
£ mm
367.4
153,671,232
Net asset value per share
(H) / (1)
£/share
2.39
Source:
1) Comprises 13,305,601 lb of U308 held on 30 June 2021 plus 550,000 lb of U3Og purchased in July and August 2021
2) Fair value is based on the Weekly Price published by UxC, LLC on 12 July 2021
3) As at 31 March 2021
4) Cash and other current assets and liabilities of US$105.1 million as at 30 June 2021 less a cash consideration of US$17.8 million paid for the purchase of
550,000 lb of U₂Og in July and August 2021
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