Yellow Cake PLC (LON:YCA)

Investment Objective and Strategy

Global markets offer limited options for gaining exposure to the uranium price. Yellow Cake is intended to be a uranium focused company without exploration, development, mining or processing risk.

Nuclear energy provides approximately 11% of global energy. However a decade of declining uranium prices has resulted in significantly declining investment in exploration for uranium, impacting the development of new uranium mines, and resulting in projected supply deficits as global production falls below demand. The supply gap that has been created is currently being covered by secondary sources, largely from enrichment providers underfeeding. However, secondary sources are declining and, due to the length of time required to develop new uranium mines, new production may not be sufficient to fill the supply deficit.

Yellow Cake will seek to use its and its adviser’s expertise and market knowledge to generate value through:

1. the purchase, sale and trading of uranium in both the spot market, through the Kazatomprom Contract and through any other long-term contracts entered into by the Company to generate value for shareholders;
2. other uranium related transactions, including the acquisition of production or synthetic production, via streaming, royalties or similar mechanisms.

Board of Directors

Board of Directors and Management

Yellow Cake's Board of Directors are committed to ensuring high standards of corporate governance, with a focus on generating and protecting value for shareholders. Yellow Cake's management and the Board of Directors possess significant expertise and market knowledge.

BOD members in running order:

THE LORD ST JOHN OF BLETSO
Independent Non-Executive Director and Chairman

Anthony Tudor St John is a crossbench independent member of the House of Lords of the United Kingdom. He was a member of the Select Committee on Communications and, until recently, the sub-committee on Artificial Intelligence. He is Vice Chair of the All-Party Parliamentary Group on South Africa and All-Party Africa Group. He is currently a non-executive director of Albion Ventures LLP, and Chairman of IDH plc (Integrated Diagnostic Holdings) as well as Strand Hanson. Anthony was Chairman of Spiritel PLC between 2004-2012 and has also been a non-executive director of Regal Petroleum plc, Sharp Interpak Limited and Pecaso Group Inc. He has also served on the advisory boards of Infinity SDC, Chayton Capital and Ariya Capital with a focus on Agriculture and African business opportunities.

The Lord St John of Bletso holds a Master of Law (LLM) in Chinese and Maritime Law from the University of London, a Baccureus Procurationis (B.Proc) from the University of South Africa, and a Bachelor of Art (BA) and Bachelor of Social Science (B.SocSc) in Psychology from Cape Town University

Age: 61

ANDRE LIEBENBERG
Executive Director and Chief Executive Officer

Andre Liebenberg is an experienced mining industry professional and has extensive investor marketing, finance, business development and leadership experience. Andre has spent over 25 years in private equity, investment banking, senior roles within BHP Billiton and most recently at QKR Corporation, where he was Chief Financial Officer. Andre's previous roles within BHP Billiton included Acting President for BHP Billiton's Energy Coal division, Chief Financial Officer for the Energy Coal division, the Head of Group Investor Relations and Chief Financial Officer for the Diamonds and Speciality Products division.

These roles were based in London, Melbourne and Sydney. Prior to joining BHP Billiton, Andre worked for UBS in London and the Standard Bank Group in Johannesburg.

Andre Liebenberg holds a Bachelor of Science (B.Sc) Elec. Eng. from the University of Cape Town and a Master in Business Administration (MBA) from the University of Cape Town.

Age: 56

CAROLE WHITTALL
Executive Director and Chief Financial Officer

Carole Whittall is a director and co-founder of Mining Strategies Limited, which provides M&A and transaction advisory services to the metals and mining sector. Most recently, she was Vice President, Head of M&A at ArcelorMittal Mining and member of its Mining Executive Team, responsible for global M&A, government relations and corporate and social responsibility and serving as a board member of subsidiary companies and joint ventures. Previously, she was with Rio Tinto where she held various senior commercial and business development roles. Her prior career was with JP Morgan and Standard Corporate and Merchant Bank in corporate finance.

Carole Whittall holds a Bachelor of Science (B.Sc) (Hons) from the University of Cape Town and a Master in Business Administration (MBA) from the London Business School.

Age: 46

SOFIA BIANCHI
Independent Non-Executive Director

Sofia Bianchi is the Founding Partner of Atlante Capital Partners, which specialises in investing in structurally undervalued businesses in emerging markets. Previously, she was Head of Special Situations at BlueCrest Capital Management. Sofia served as a Deputy Managing Director of the Emerging Africa Infrastructure Fund with Standard Bank London. From 1994 to 2002 Sofia held senior positions with the European Bank for Reconstruction & Development. Prior to this, she was a member of Prudential - Bache global & advisory team. She has extensive experience in banking, fund management and mergers & acquisitions and served as an Independent Non-Executive Director of Kenmare Resources plc from 2008 to 2017.

Sofia Bianchi holds a Bachelor of Arts in Economics from the George Washington University and a Master in Business Administration (MBA) from the Wharton School.

Age: 61

THE HON ALEXANDER DOWNER
Independent Non-Executive Director

The Hon Alexander Downer AC was appointed Australian High Commissioner to the United Kingdom in March 2014. Alexander has had a long and distinguished political career in Australia, and was until recently the United Nations Special Adviser to the Secretary-General on Cyprus. He joined the Department of Foreign Affairs in 1976 and served at the Australian Embassy in Belgium before moving into federal politics. He served as Australia’s Minister for Foreign Affairs, from 1996 to 2007, making him Australia’s longest-serving Foreign Minister. Mr Downer was appointed a Companion of the Order of Australia in 2013 and was awarded the Centenary Medal in 2001.

Alexander Downer holds a Bachelor of Arts (BA) (Hons) in Politics and Economics from Newcastle University.

Age: 66

THE HON ALEXANDER DOWNER
Independent Non-Executive Director

The Hon Alexander Downer AC was appointed Australian High Commissioner to the United Kingdom in March 2014. Alexander has had a long and distinguished political career in Australia, and was until recently the United Nations Special Adviser to the Secretary-General on Cyprus. He joined the Department of Foreign Affairs in 1976 and served at the Australian Embassy in Belgium before moving into federal politics. He served as Australia’s Minister for Foreign Affairs, from 1996 to 2007, making him Australia’s longest-serving Foreign Minister. Mr Downer was appointed a Companion of the Order of Australia in 2013 and was awarded the Centenary Medal in 2001.

Alexander Downer holds a Bachelor of Arts (BA) (Hons) in Politics and Economics from Newcastle University.

Age: 66

ALAN RULE
Independent Non-Executive Director

Alan Rule has more than 20 years' experience as a Chief Financial Officer and Company Secretary in the mining industry in Australia and Africa. He has considerable experience in international debt and equity financing of mining projects, implementation of accounting controls and systems, governance and regulatory requirements, and mergers & acquisitions. He currently serves as Chief Financial Officer of Australian lithium producer, Galaxy Resources. His previous positions have also included CFO of uranium producer Paladin Energy Limited, Sundance Resources Limited, Mount Gibson Limited, Western Metals Limited and St Barbara Mines Limited.

Alan Rule holds a Bachelor of Commerce (B.Com) and a Bachelor of Accountancy (B.Acc) from the University of the Witwatersrand and is a Fellow of the Institute of Chartered Accountants (FCA) in Australia.

Age: 56
 

JAMES KEATING
Independent Non-Executive Director

James Keating is a Client Director at Langham Hall Fund Management (Jersey) Limited. He has worked in the global fund administration business for a number of years, holding directorships on various fund structures. He is presently a director on a number of boards which invest in a variety of underlying assets, notably commercial and residential real estate predominantly in the UK.

James Keating holds a Diploma in Fund Administration from the University of Manchester Business School.

Age: 44

Contact Us

Office details

3rd Floor, Liberation House,
Castle Street,
St Helier,
Jersey,
Channel Islands JE1 1BL

+44 1534 885200

Media consultant

Powerscourt

+44 (0)20 7250 1446

Advisers and Registrars

. IPO Adviser: Bacchus Capital Advisers Limited
. Nominated Adviser and Joint Bookrunner: Numis Securities Limited.
. Joint Bookrunner: Joh. Berenberg, Gossler & Co. KG, London Branch
. Selling Agents: Olivetree Financial Limited and Scott Harris UK Limited.
. English Solicitors to the Company: Milbank, Tweed, Hadley & McCloy LLP
. Jersey Solicitors to the Company: Mourant Ozannes LLP
. Solicitors to the Nominated Adviser and Joint Bookrunners: Norton Rose Fulbright LLP
. Jersey Administrator: Langham Hall Fund Management (Jersey) Limited
. Investor Relations: Powerscourt
. Accountants: RSM UK Limited
. Registrars: Link Market Services (Jersey) Limited

Contact Us

Office details

3rd Floor, Liberation House,
Castle Street,
St Helier,
Jersey,
Channel Islands JE1 1BL

+44 1534 885200

Media consultant

Powerscourt

+44 (0)20 7250 1446