The past below has beentaken from the latest Shovel Stocks Blog
https://www.shovel-stocks.com/post/uranium-portfolio-update-well-we-re-waitingSilex Systems
Silex Systems is operating a JV with Cameco called "Global laser Enrichment" (GLE). Part of my thesis for Silex is their new process for uranium enrichment (separating the isotopes with lasers) and the other part of their business which is a picks and shovels play on quantum computing. My investment thesis for Silex can be found here.
Silex usually doesn't do much promotion. Recently their CEO Michael gave the first investor interview since 11 years.
Shortly thereafter the company announced an offering raising A$120M capital. The reason for this capital raise is very positive.
First, the final decision has now been made to accelerate the uranium laser enrichment project timeline. Commercial production is planned to start in 2027 (which is tomorrow in nuclear industry terms) and the demo plant is planned to be in operation already by mid 2024!
Second, GLE/SLX voiced its intention to apply for the support offered via the US Inflation Reduction Act.
Third, the initial commercial production of ZS-SI should also start this year. We could get a news release about this topic any day now (most likely after the equity raise incl SPP is closed).
Fourth, the MIST project was announced.
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