An issue for Centrus is that they only have a category 2 licence which provides for up to 20% enrichment. BWXT have the only US category 1 license which allows them the produce HEU which is what is required for submarines, aircraft carriers and weapons. The only leaves Centrus with the supply of fuel for the production of tritium (at TVA) where they can compete with BWXT for unobligated nuclear services (GLE, Orano & Urenco can't compete for this unobligated product).
As I understand it supply of NUF6 feedstock for unobligated purposes requires that the original mined uranium is of US origin; the PLEF tailing should meet this requirement (it is tailings from prior to 2013 from the Gaseous Diffusion plant) and as far as I can see enrichment back up to NUF6 does not disqualify it from remaining "unobligated" even if using foreign technology (i.e it's not enrichment if only brought up to natural uranium levels); the important issue is that it should be of US origin (which it is). We could find GLE exclusively supplying unobligated NUF6 feedstock to BWXT.
SLX Price at posting:
$4.38 Sentiment: Buy Disclosure: Held
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