I agree with you. It seems to me that Centrus needed a deal with someone to justify their application of some of the $2.7bn to build a domestic LEU enrichment plant but couldn't get a domestic offtake agreement.
They might be arguing that they will be helping the US to restore their dominance of the nuclear market and are helping a vitial ally in Asia surrounded by China and North Korea tohelp them wean themselves off Russian supply which Korea is currently dependent on. It's tenuous and doesn't help the US domestic producers but it does give the US some soft power in a part of the world they need strong friends.
No idea how the DOE would look upon this but I don't seem them having an impact on GLE
It's looking like Orano and GLE (subject to sucess with TRL-6) are in the box seat for LEU funding. Centrus may get some HALEU funding but BWXT seems to be a serious competitor to Centrus for military supply now.
Centrus may the big loser in all of this. It will be interesting to watch their share price over the next few months.
SLX Price at posting:
$3.79 Sentiment: Buy Disclosure: Held
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