Silex Systems signs exclusive nuclear offtake deal with Cameco
- Global Laser Enrichment signed an exclusive offtake agreement with Cameco to sell all future nuclear fuel from its planned Kentucky plant.
- Following the announcement, the Silex Systems share price was unchanged at $4.65.
- The agreement establishes a commercial pillar to support a future final investment decision for the Paducah Laser Enrichment Facility.
Silex Systems (ASX:SLX) announced that its 51%-owned entity Global Laser Enrichment signed an exclusive deal with Cameco (NYSE:CCJ) to sell all future nuclear fuel output from its planned Kentucky facility.
The agreement secures a buyer for 100% of the planned facility's production, providing a direct route to commercialisation compared to operating without committed buyers.
"The agreement will guarantee GLE receives pricing for its products equivalent to Cameco’s average realised price, net of appropriate selling costs, achieved on an annual basis across its long-term contracting portfolio," said Silex Systems Managing Director and CEO Michael Goldsworthy.
Under the terms, Cameco will pay an annual price equal to its average realised price across its long-term contract portfolio minus appropriate selling costs.
Following the announcement the Silex Systems share price was unchanged at $4.65.
The technology licensee Global Laser Enrichment is jointly owned by Silex Systems with a 51% stake and Cameco with a 49% stake.
The Paducah plant aims to produce multiple uranium formats, including natural grade uranium, low-enriched uranium, and high-assay low-enriched uranium for advanced reactors.
