No 2020 is not that far away, we will be making money in late 2020 I reckon, I think you made a wise decision Scaggs in purchasing more.
The money we will be making in my opinion is not from the sale of the natural grade UF6 from Paducah, in one of the Construction Intelligence reports that I first found they said that the DoE were in the process of signing contracts for the lease of the recovered Uranium, like I said it is an important component of recycling, I very much doubt that they will be selling much of it, if any?
I also harped on about Paducah being more than just Uranium recovery from the tails and it is, it had to be, otherwise it made no sense? it would have been cheaper to just buy a Uranium mine and convert it to UF6, it would have cost less that way I believe, Paducah is also about the purification of U238 (Depleted Uranium) for use as a future fuel for fast breeder reactors also that is the dual use for Paducah which I suggested had to happen, that in itself tells us that recycling is happening doesn't it? MG alluded to the value of the DU in his submission to the SA Royal commission.
Looking at my last post about this bit in particular "Third, it can be used after blending it with LEU (below 5% 235U)
or natural uranium (NU)1."
If they recycle the UNF in this third way to produce usable LEU then there isn't really any enrichment per se is there?
Maybe they will do some enrichment as they say? depending on the type of reactor that it is going to?
But that bit about the removal of
232U, 234U and 236U is interesting, because that would remove some of the nuclear poisons and maybe some nasty actinides to boot, making it much easier to handle the recycled LEU for the production of fuel by GNF-A and because the nuclear poisons have been removed, then all they have to do is just add more natural Uranium until the LEU is in spec between 3% and 5%.
ALL of this is about recycling and has been for some time, even though GLE does not mention it?
All of this would have changed the conditions under which we would get royalties I believe?
Things have changed dramatically since the agreement on the use of laser enrichment was first signed.
I also believe that Silex being able to get 76% of GLE, is in some way connected to an equity swap where we get the 67% and GEH get a percentage of this new Silex subsiduary, Silex will get to sell a certain percentage to other interested parties, but I believe that will be limited so that a certain percentage still remains i.e. maybe they could sell 25% of it, that way Silex get to keep 51% , but I reckon GEH will own around 49% of the new SLX subsiduary?
From what I have read a company that holds less than 50% equity can still be in control, not sure how that works?
see here -:
Controlling Interest Definition | Investopedia
www.investopedia.com/terms/c/controllinginterest.asp
What is 'Controlling Interest'
Controlling interest occurs when a
shareholder, or a group acting in kind, holds a majority of a company's stock. By definition, this figure is 50% of the
outstanding shares, plus one. However, controlling interest can be achieved with less than 50% ownership in a company if that person or group owns a significant proportion of its
voting shares as in many cases, not every share carries a vote in shareholder meetings.
I did notice in one of the PDF's I posted earlier about this term sheet, something about
non voting shares re Silex?
See here -:
In conjunction with this SF-328 update, GLE also submits the enclosed amendment to the Owners, Officers, Directors, and Executive Personnel (OODEPs) listing.
GLE submitted the nineteenth amendment back on November 20, 2015 (Reference). The GE Parties' OODEPs have not chahged. The GLE OODEP listing is being changed to reflect the proposed Board Observer
(non-voting) status for Silex
There is no way that GEH would ever just walk away from any of this leading edge technology at this late stage in development and just give it to Silex, there
HAS to be some sort of quid pro quo, isn't this scenario logical?
It also mentions this in the term sheet document -:
On April 29, 2016 GLE's controlling parent companies, GENE Holding LLC ari_d GEHitachi Nuclear Energy Americas LLC (the "GE Parties") entered into a non-binding Term Sheet with Silex Systems, Limited (Silex)
whereby a Silex subsidiary may purchase the equity interests of the GE Parties, subject to U.S. government approvals and other commercial conditions precedent. Under the Term Sheet, Silex has agreed to reimburse the GE Parties for their pro-rata share of the 2016 and 2017 operating budget up to an agreed amount.
So Silex have to pay for the 76% interest, my question obviously is with WHAT?
The only possible way that I can see, as to how they pay for them is in it's own equity?
Is that logical?
(20min delay)