30th June 2023 Share Price Prediction, page-87

This is what PAC Partners said- back in 2021 , a lot has happened since then and I suspect that it (26% of GLE may be worth more than tey said now?
:
Silex Systems Limited (ASX:SLX)
The global laser separation leader

KEY POINTS
• SLX has full ownership and 51% control of the next generation of Uranium enrichment. #1 Nth American Cameco is the 49% partner.
• SLX’s global leadership in this laser separation technology also has short term commercial applications to Zero Spin Silicon for supercomputers which SLX can develop with its own funding.
• We see SLX generating positive cash flow from 2025 from non-uranium applications, and owning 25% of Paducah Ur Mine by 2030.
• This should deliver a base EBITDA of $70m, and provide a platform for multiple uranium and other laser separation applications.
• SLX can choose to fund this development with its $20m cash and equity agreements with global partners.
• After key 2021/22 milestones, SLX has many funding options to accelerate additional applications and control commercial outcomes.
STEPS TO CONTROL OF TECHNOLOGY AND EQUITY
In January 2021 SLX earned the right to 51% of Global Laser Enrichment (GLE), and can now secure the approval for the Paducah uranium mine.
SLX has an option to sell 26% of its ownership of GLE to Cameco at any time from Demonstration Plant to Paducah design and construction.
We assume the sale will be done in 2025 for US$203m. This is a 50% premium to the US$125m paid for 24% of GLE in 2008, when GLE did not own the Paducah Tailings for a 30 year mine of 5.2mlb U308 with approval. We assume this sale allows SLX to pay a A$65m dividend, fund its 25% of the Paducah Mine, and pitch for other uranium enrichment projects





PAC Research Report on Silex.pdf