Yellow Cake capitalises on higher uranium demand as company awaits nuclear power transition

Yellow Cake shares gained 2% to 357.4p in late afternoon trading on Friday after the group announced continued market improvement for U3O8, with the spot price increasing 89% from $30.65 per pound on 31 March 2021 to $57.90 per pound on 31 March 2022.

The uranium-specialised company reported a 203% rise in the value of its holding in U3O8 across the financial year to $916.7 million at 31 March 2022 on the back of the increased price of uranium.

Yellow Cake also highlighted the net growth in the volume of uranium held from 9.8 million pounds of U3O8 to 15.8 million pounds.

The firm mentioned a post-tax profit of $417.3 million for FY 2022 from $29.9 million in FY 2021. Yellow Cake confirmed $236.6 million raised over the period through share placings in June and October 2021, after it raised $138.5 million in March 2021.The company said it applied the proceeds of […]

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