Well not sure whether you got access to the data that the...

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22/04/24

14:35

Post #: 73458211
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Originally posted by Alejandro1: ↑

Maybe the Chinese firm currently trying to pick up SRX at a steep discount? This is amid the companies own issues with the local authority. It is a long wait until August, plenty of time for better offers, nothing is binding yet.

I think a quick analysis of UUUU is warranted as the majority of our payment will be in their shares. What are we getting for our money, is there value there?

Their SP has moved largely in line with Uranium price to date, but not to as much of an extent as 2005-2007 when the SOI was much lower and so was liquidity. I cant find financials for this period. For recent periods there seems to be a trend of minimal return to SH. Other than profits driven by sale of assets, SH value creation seems to be minimal. Asset pool is rising but seems to be largely due to share issue.

Consistent share issuance is maintaining the cashflow and growing the cash balance. They do not have any Uranium contracts going forward, all sales on the spot market. They sold zero Uranium in 2021 and 2022 but had a large sale in 2023. Can this become the norm going forward? Because the market is not pricing the company as if its most recent results will continue. Even so, the majority of the $0.60 EPS was due to irregular other income of $119M on sale of assets. If not for this, they would still be loss making even with above average Uranium prices due to substantial SGA and exploration/development expenditure.

This may be good for Toliara funding prospectivity and current managements job retention. However, for SH, I think the asset will be diluted and lost in the balance sheet. With any value eaten away by losses from Uranium operations and dilution.

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Well not sure whether you got access to the data that the American analyst got or not but their valuation of UUUU without considering Tailora is quite different. Wait for them to be rerated once Toliara asset is considered in the mix of what they got at the moment.

US market is massive and not run by few Superannuation funds !

I suggest look the information available on UUUU website which has lot more information then what you got !

https://www.energyfuels.com/presentation

This presentation seems to be updated considering it already talks about Toliara !

BSE Price at posting: 22.3¢ Sentiment: None Disclosure: Held
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0 Great analysis

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