Yellow Cake buys another 2m pounds of triuranium octoxide

Specialist uranium company Yellow Cake updated the market on the offer from Kazatomprom on Thursday, which it initially announced on 12 June.

The AIM-traded firm said it had now signed an agreement with Kazatomprom to purchase a further two million pounds of triuranium octoxide at a price of $32.23 per pound, for a total consideration of $64.5m.

It expected delivery to take place between October and December.

“Once this transaction has completed, the company's total holdings will increase to 15.86 million pounds of triuranium octoxide,” the board said in its statement.

At 1016 BST, shares in Yellow Cake were up 0.93% at 256.35p.