@NowclearExecution of formal documentation, in the context...

@Nowclear

Execution of formal documentation, in the context above, means signing of the Amended Sales Agreement between the DOE and GLE; this is the document that sets the terms for the future purchase by GLE of depleted UF6 tails from the DOE. According to SLX, this document has already been renegotiated in its key terms, but hasn’t been formally executed yet.

On the other hand, the Silex/Cameco submission for US Government approval of the GLE deal is supposed to occur approximately two months after execution of the Binding Purchase Agreement between Silex/Cameco and GEH; that is a separate document from the above, and was executed in December 2019.

Subject to execution of the Amended Sales Agreement occurring in time, the US Government (which may or may not involve the DOE, that was not specified) is then expected to approve the GLE deal within nine months of submission, i.e. by November 2020, assuming that submission will occur in February 2020 (two months after execution of the Binding Purchase Agreement with GEH).

Let me know if there is anything unclear.