We own NexGen (ASX: NXG) and Silex in our Emerging Companies Portfolio both of which are exposed to nuclear power but this morning we’ve gone slightly off piste and looked at SLX, but note we are long and bullish both:
NexGen (NXG) – we last covered the Canadian based developer here, a company which sits on the world’s largest and lowest-cost uranium mine, its ~5 years behind Paladin when it comes to production.
Silex Systems (SLX) – is developing a world-first laser enrichment process for separating uranium isotopes for nuclear fuel, which we last discussed in detail in late 2025 here.
SLX looks poised to trade back above $7 after enduring a more than 50% correction, primarily after disclosing it missed out on ~$US900mn of United States Department of Energy (DOE) funding for its uranium enrichment technology, in January. Silex possesses genuinely world-class technology, with its laser uranium enrichment process potentially transformative for the global nuclear fuel cycle, but the business remains pre-commercial and inherently high risk. Missing out on the DOE-related opportunity was painful given how much optimism had already been priced into the stock, although importantly, the technology itself was effectively validated. The next major hurdle remains securing large-scale commercial funding and partnerships, with the timing of that still uncertain.
- We are initially targeting the $7.50 area for SLX, or ~20% higher- MM owns SLX in the Emerging Companies Portfolio.
MM is long and bullish towards Silex around $6
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