William - as I understand it GLE is a private (i.e unquoted) Delaware registered company now owned 51% by SLX and 49% by Cameco. Their licensing details are contained in a NRC announcement dated 2/12/20 (see HERE). SLX has granted GLE an exclusive international license to the uranium enrichment technology developed by SLX prior to 2006 - as far as I am aware GLE does NOT have shares in SLX. As you say if "this long awaited device" (presumably the TRL/6 prototype) does not work then GLE (which we now control, but possibly not when/if Cameco take up their option to increase to 75%) is likely to drop the "exclusive" licence and like what happened with USEC (the prior to 2006 exclusive licensee) the exclusive license reverts to SLX in Australia. As you say if the TRL/6 trial fails then we are left with the baby and Australian law currently forbids uranium enrichment (the Australian Radiation Protection and Nuclear Safety Act 1998 (ARPANS Act) and the Environment Protection and Biodiversity Conservation Act 1999 (EPBC Act) - section 140 (c))
SLX Price at posting:
$4.55 Sentiment: Buy Disclosure: Held
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