OK, how do you think this would go down with the markets???????...

OK, how do you think this would go down with the markets??????? ;-)


"Silex Systems Australia (ASX:SLX) is pleased to announce today that a landmark restructuring of the GLE partnership has been concluded. Since the withdrawal from GLE by GE and Hitachi in 2015, SLX has been primarily responsible for seeking new partners for the 76% of GLE previously managed and owned by GE and Hitachi. SLX is please to announce that under a restructure supported by the DOE, a 49% stake has been purchsed for a commercially protected sum by French state owned company NewCo, a subsiduary of Areva. Finalisation of this arrangement has only been made possible under the auspices of the DOE which was required to a ratify the international sale arrangement. A component of that agreement was to ensure that foreign owndership management did not exceed 50% in any single entity.

In addition, a 15% stake in GLE has been purchased by honeywell US for $45million whilst the remaining 12% equity has been assigned to SLX in lieu of costs associated with funding the ongoing management of the process through the last 24 months.

Further, the DOE has now also signed a binding low-interest loan (0.3%, 30 years term) agreement for $670million with GLE for the construction of a high-assay uranium hexafluoride (DUF6) inventories reprocessing facility which is to be built at Paducah, Kentucky. Feed stock for this facility will initially be from 300,000 metric tonnes of DOE material under previous agreement licence to GLE. Construction of the facility is expected to commence in 4Q17 with commissioning completed within 18 months.

In addition to the DOE loan, NewCo and Honeywell will provide the balance of funding for the enrichment facility which is budgeted at 986million. SLX is not required to contribute to source funding as a part of the complex agreements for GLE restructure.

Managing Director of SLX, Mr. Michael Goldsworthy is pleased with the news. "This is a watershed moment for the commercialisation of the Silex enrichment technology," he said. "We are now moving into the commencial deployment phase and expect to see solid returns for investors in the medium term. We are also continuing plans for a raw material enrichment facility at Wilmington and have commenced discussions with authorities in other nations about the potential to reprocess their waste stockpiles. It is an exciting time for the stock, and for the management of global nuclear waste, as well as having a positive impact on the environment and contributing to the reduction in costs for an important base load power supply."