I think the major implication is that FOCI ( foreign ownership,...

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kingsleadhat

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22/12/17

22:12

Post #: 29845046
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Originally posted by zog ↑

To me this is an important announcement by implication it means that SLX have either:

1. NOT found a partner who would take a minority stake (~25%) and put up some money for ongoing development and also re-imburse SLX for the development expenditure they have put into the project since GE pulled out in support for Lucas Height development in July 2014 followed by a dropping Wilmington expenditure in January 2016 (although Cameco continued with their 24% for this work).

OR

2. GEH have got fed up with more postponements and have told SLX they need resolution and will close down the Wilmington GLE operation.

The interesting issue will be what terms GEH requires for their shares and also the continuation of the GLE presence in Wilmington after conclusion of the takeover of GEH 76% and the ability of SLX to continue to support 76% of development to Phase II and raise the money for phase III (Paducah). It will also be interesting to see what the US government (DoE) does; I guess they will want SLX to become a wholly US company - expect a backdoor takeover of GLE by SLX and then a US IPO (to raise more money and no doubt dilute us) to list the resulting US company (SILXY ADR's included) on the US market as a US (Delaware) company.

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I think the major implication is that FOCI ( foreign ownership, control or influence) takes a lot longer to negotiate. I refer readers to Adams.nrc.gov.

K

SLX Price at posting: 48.5¢ Sentiment: Buy Disclosure: Held
2 Upvote

0 Great analysis

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I think the major implication is that FOCI ( foreign ownership,...

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I think the major implication is that FOCI ( foreign ownership,...

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