Yellow Cake Surpasses £1 Billion Market Capitalisation

Following the IPO, Yellow Cake acquired 8.4 million lbs. of U3O8 at an average price of US$21.10 /lb. In the ensuing time period, where the uranium spot price increased to US$65.50 /lb., Yellow Cake purchased an additional 11.8 million lbs to take its total uranium holdings to 20.2 million lbs. Following the IPO,Yellow Cakeacquired 8.4 million lbs. of U3O8 at an average price ofUS$21.10/lb. In the ensuing time period, where the uranium spot price increased toUS$65.50/lb.,  Yellow...

Following the IPO, Yellow Cake acquired 8.4 million lbs. of U3O8 at an average price of US$21.10 /lb. In the ensuing time period, where the uranium spot price increased to US$65.50 /lb., Yellow Cake purchased an additional 11.8 million lbs to take its total uranium holdings to 20.2 million lbs.

The underlying investment thesis for Yellow Cake was, and remains, that with low-carbon baseload nuclear power essential to meet net zero and an expected shortfall of mine supply, the uranium price will need to meet or exceed the incentive price of sufficient new production to match demand. Many near-term project developers are anticipating a required incentive price well in excess of the current uranium spot price.

We would like to thank our supportive partners working with Yellow Cake to achieve this milestone as we look forward to achieving the next significant marker.

Peter Bacchus, Chairman and Chief Executive of Bacchus Capital said:

"Reaching the significant milestone of a one billion sterling valuation is a credit to all involved, and I extend my congratulations to Andre and the full board and management team, as well as our partners and investors at the IPO and subsequently. The success of this venture was never in doubt, but its performance has truly excelled. Yellow Cake brought a new asset class to the UK investment market and highlighted the critical role that nuclear must play in addressing climate change and meeting net zero commitments."

Further information:

Bacchus Capital Advisers

Peter Bacchus
Richard Allan
Tel: +44 (0) 203 848 1640

Powerscourt 

Peter Ogden 
Tel: +44 (0) 779 3 85 8211 

 

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