Ann: SILEX Uranium Enrichment Project Update, page-3

"Acceleration of GLE’s CY2023 activities creates the potential opportunity to complete the pilotdemonstration project as early as mid-2024. If the technology demonstration project can besuccessfully completed on an accelerated timeline, this preserves the option to commencecommercial operations at the PLEF up to three years earlier than originally planned, subjectto the availability of government and industry support, as well as geopolitical and marketfactors.Michael Goldsworthy, Silex’s CEO and Managing Director said:“Since the decision made by Silex and Cameco in February to accelerate CY2023 activities,there has been an appreciable uplift in the pace of recruitment of new team members, and acommensurate increase in the pace of project activities. The two teams, in Sydney andWilmington, are making rapid progress in the construction and assembly of the commercial-scale pilot facility based in Wilmington, and are currently on track to commence commissioningactivities as early as Q1 CY2024. There is a very positive momentum shift underway, as wetake the SILEX technology to commercial-scale for the first time”.“The key driver for the decision to accelerate is the emergence of the ‘Triple Opportunity’ whichhas been precipitated by Russia’s invasion of Ukraine, creating the urgent need for theWestern nuclear fuel industry to establish a secure supply chain with new production capacityfor UF6, LEU and HALEU. The combination of this and the transition to a decarbonised globaleconomy has created market conditions and opportunities never seen before,” he added."

All good