Ann: GLE and Duke Energy sign Letter of Intent, page-2

So we have another LOI, does anybody here really think this would be happening if we won't be producing for another 7 Years?


Silex Systems Limited | ABN 69 003 372 067
LHSTC, New Illawarra Road, Lucas Heights NSW 2234
Telephone: +61 2 9704 8888 | Facsimile: +61 2 9704 8851 | Website: www.silex.com.au
GLE and Duke Energy sign Letter of Intent to develop areas
of mutual interest and cooperation
4 July 2022
Silex Systems Limited (Silex) (ASX: SLX; OTCQX: SILXY) is pleased to announce the
execution of a non-binding Letter of Intent (LOI) between Global Laser Enrichment (GLE) and
Duke Energy Carolinas, LLC and Duke Energy Progress, LLC (Duke Energy) for the purpose
of developing areas of mutual interest and cooperation in the nuclear fuel supply chain. The
LOI identifies a number of key areas of potential cooperation, including supporting GLE’s
deployment of the SILEX laser enrichment technology in the United States and the potential
acceleration of commercialisation timelines.
Michael Goldsworthy, Silex’s CEO/Managing Director said:
“The LOI between GLE and Duke Energy is another positive step in advancing GLE’s strategy
to commercialise the SILEX technology and support the diversification of domestic U.S.
uranium, conversion and enrichment capabilities and capacity.”
“As the U.S. Government ramps up initiatives to rebuild its domestic nuclear fuel supply chain
and lessen its dependence on nuclear fuel imports, particularly from Russia, we anticipate
GLE’s engagement with U.S. nuclear power generators will help support the commercialisation
of the SILEX technology,” he added.
GLE is the exclusive licensee of the SILEX laser technology for uranium enrichment and is a
51%/49% jointly-controlled venture between Silex and global uranium and nuclear fuel
provider Cameco Corporation. Duke Energy is one of the largest energy companies in the U.S.
operating 11 major nuclear power units across six sites in North Carolina and South Carolina,
generating nearly 11,000 megawatts of reliable, carbon-free electricity.
Subject to market conditions, regulatory requirements and other factors, GLE could become a
significant contributor to nuclear fuel production in the U.S. for the world’s current and future
nuclear reactor fleets. GLE is uniquely positioned, through its ongoing commercialisation of
the SILEX technology, to address the “Triple Opportunity” emerging in the nuclear fuel supply
chain as a result of global climate change and geopolitical issues:

1) Tails processing (PLEF1) to produce natural grade UF6 and help alleviate UF6
conversion supply pressure;
2) Build capacity to supply enrichment (SWU) to the market for the production of
Low Enriched Uranium (LEU) and Low Enriched Uranium plus (LEU+); and
3) Build additional capacity to produce High Assay LEU (HALEU) fuel for next
generation advanced small modular reactors.
While no decision has yet been made, Silex and Cameco are reviewing the feasibility of
accelerating GLE’s commercialisation program in response to these emerging opportunities,
subject to alignment with evolving market conditions.