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(Sharecast News) - Yellow Cake said on Monday that the value of its uranium holdings increased 1.5% during the quarter ended 30 June to $1.97bn, as its inventory rose to 23.21m pounds of uranium oxide and the spot price increased to $84.85 per pound from $83.95.
Estimated net asset value per share edged up to 6.34 from 6.33, while longer-term uranium prices strengthened despite limited utility contracting.
The AIM-traded company has agreed to buy a further 1.16m pounds of uranium from Kazatomprom for $100m, taking its holdings to 24.37m pounds following delivery in the second half.
It also completed a $10m share buyback after the period ended, purchasing 1.36m shares, and said its pro forma net asset value stood at 6.42 per share on 24 July.
At 1157 BST, shares in Yellow Cake were up 1.58% at 545p.
Reporting by Josh White for Sharecast.com.
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