Yellow Cake raises $150M to buy more uranium amid its tight supply

Editor’s Note: With so much market volatility, stay on top of daily news! Get caught up in minutes with our speedy summary of today’s must-read news and expert opinions. Sign up here! (Kitco News) – Yellow Cake, a specialist company operating in the uranium sector with a view to holding physical uranium for the long-term, today announced its intention to conduct a non-pre-emptive placing of new ordinary shares in the company to raise gross proceeds of approximately US$150 million.

The company said it intends to use the proceeds of the placing to fund purchases of physical uranium ("U3O8") of approximately 3 million lb of U3O8.

According to a press-release, Yellow Cake will purchase approximately 1 million lb of U3O8 from Kazakhstan’s Kazatomprom, the world’s largest uranium producer, at a price of US$47.58/lb.

"This purchase will be above and beyond the company’s 2021 option under its agreement with Kazatomprom, which has already been […]

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