it all comes down to achieving commercialization. The site plan that has been released shows a 6mSWU facility - although it also details expansion which looks to be double that. in SLX's own investor deck they reflect on an 8MSWU operation potentially delivering $80m USD pa. at 7% royalty rate. that puts GLE's turnover on 8MSWU at roughly $1.2bn USD ($1.8bn AUD) per annum. we obviously need the feasibility study to be completed prior to getting an idea of profitability but we know the feed NUF6 is going to be incredibly competitive so throw a conservative guesstimate in at 30% and $6bn AUD for GLE on a 10x multiple doesn't seem outlandish (particularly when considering the facility might be increased to 12MSWU plus HALEU). all spit balling, but keen to hear others thoughts.
SLX Price at posting:
$3.30 Sentiment: Buy Disclosure: Held
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