Yellow Cake PLC (LON:YCA) has seen the value of its uranium holdings increase by US$29.3mln in its latest half-year.
The value of the firm’s uranium holdings rose to US$246.7mln in the six months to 30 September, attributed to a US$30.4mln uranium purchase being slightly offset by a US$1.1mln loss in the period.
READ: Yellow Cake considers share buy-backs as uranium market remains subdued
As a result, the company’s estimated net asset value at the end of the six months was 232p per share, while it also reported a net loss after tax of US$3.1mln.
Looking ahead, Yellow Cake’ chief executive Andre Liebenberg said the company is currently awaiting the conclusion of the US Nuclear Fuel Working Group's investigations into the US nuclear fuel industry, which they expected to “bring to an end a long period of uncertainty that has significantly slowed activity in the traded uranium market which has subsequently weighed heavily on the uranium price”.
He added that the company is still considering the option of a share buyback so it can “acquire additional exposure to uranium at a discount to the spot price”.
In early trading on Thursday, Yellow Cake shares were 0.8% higher at 194.6p.