Yellow Cake net asset value rises on higher uranium price

Uranium buyer Yellow Cake said its net asset value improved in the December amid rising uranium prices.

The company said its net asset value for the three months through December rose 5.9% to £2.53 per share, which was up 27% since its IPO in July.

Uranium oxide prices had jumped 25% since the IPO to $28.50 per pound.

'We look to the future with optimism as countries around the world implement new uranium programmes and extend the lifecycle of existing projects,' chief executive Andre Liebenberg said.

'Our investment thesis remains sound and we are confident in the long-term outlook for the uranium price.'

At 2:32pm: (LON:YCA) Yellow Cake Plc Ord Gbp0.01 share price was +7.23p at 228.03p