slx: get ready but for what??, page-15

re: slx: get ready but for what?? - something bad? Hi Loric,

Nothing being said. Nothing being leaked. Only recent guidance available is from the USEC 6-monthly report (filed, Annual Report, dated 4th March 2003), and from the Quarterly report (filed, 23rd April 2003).

In the 6-monthly report, USEC had the following to say regarding SLX (p13) - nothing too spectacular, or startling:
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"USEC has secured exclusive worldwide rights to the commercial use of the SILEX laser−based technology for enriching uranium hexafluoride, which USEC
is developing in partnership with Silex Systems Limited in Australia. SILEX or Separation of Isotopes by Laser Excitation uses lasers to selectively excite the
U235 isotopes, and not the U238 isotopes, enabling separation through a gas dynamic effect.

In October 2002, the partnership agreement was amended to expand the project milestones and payment schedule, formalize a previously conditional royalty to USEC from commercialization of non−uranium isotope enrichment, and introduce a plan to seek a partner to commit new development funding. In the period October to December 2002, a series of SILEX experiments were completed, and, for the first time, small samples of uranium isotopes were separated, collected, and analyzed.

SILEX shows potential as a third−generation enrichment technology.

USEC continues to develop SILEX at a pace consistent with its stage of development".
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Last week's quarterly report made no additional reference to SLX (ie: no material change in circumstances).