My guess is it will look like this and MG will once again be...

My guess is it will look like this and MG will once again be taking cover at the AGM.

I really shits me that Nuclear Power has not been embraced worldwide due the likes of imbeciles like Peter Garret. Even as we are fed lies on a daily basis about climate change it can't get a foothold due to even bigger lies about the supposed dangers. Not sure how long I can take it.

To be frank I cannot see the nuclear market recovering until it is way too late and the planet is visually blighted with wind farms and solar farms (oh the irony on the solar front)



Silex Systems Limited (Silex) (ASX: SLX) (OTCQX: SILXY) and GE-Hitachi Nuclear Energy (GEH) have reached agreement to further extend the Term Sheet announced on 2 May 2016 through to the end of time to allow the parties additional time to work towards a mutually acceptable restructure of GE-Hitachi Global Laser Enrichment LLC (GLE).

Pursuant to the original Term Sheet between GEH and Silex, under which the Company has an exclusive assignable option over GEH’s 76% interest in GLE, the Licensee for the SILEX technology, Silex continues to lead the process to attract new investors in GLE with discussions and due diligence activities reaching advanced stages with a number of parties. In parallel with due diligence activities, Silex and GEH have been working on the transaction documentation that would formalise a sale of GEH’s 76% stake in GLE to Silex and other new shareholders.

Silex will continue to reimburse GEH its pro-rata share of the approved neverending GLE budget for the Wilmington operations pending completion of the restructure. The funding support from Silex for ongoing laser development activities at Lucas Heights, Sydney and for the 76% share of the GLE Wilmington operations is expected to be approximately AUD$6.5 million for the 6 months ending 31 December 2017.

Silex will continue to support GLE’s ongoing operations and seek the best possible outcome for the restructure of GLE by securing new investors to provide the remaining funding for the commercialisation program. This, in conjunction with the agreement between GLE and the DOE for the Paducah commercial plant opportunity (refer ASX Announcement 11 November 2016), is considered the best path forward to take the SILEX technology to market and rebuild shareholder value.