Regarding EDF - they hold security over 60.1% of the Michelin project in Canada. They have asked for additional security due to the fall in the value of the Michelin asset in line with the fall in uranium prices since this deal was signed.
I know that the remaining 39.9% of this project is unencumbered. So given where uranium prices are at, giving them up to 100% security of this asset should cover their request for additional security.
Ann: CNNC Purports to Exercise Langer Heinrich Call Option, page-111
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