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Silex Systems (SLX) $3.80

Silex Systems traded to levels not seen since July during yesterday’s session, the stock closing up nearly 8% and up 18% in the last week. A quick recap, Silex, in conjunction with Cameco (CCJ US), is developing a laser technology to enrich uranium at a facility in Kentucky, US. A pilot plant is nearing completion and expected to be up and running early next year as it looks to be a key player in the nuclear fuel supply chain. There is significant government support for Western-owned and developed uranium material and news flow this week only accelerated the need for Silex’s operations to come online.

The US Government has just passed a bill banning the import of Russian low-enriched uranium (LEU) which currently accounts for around a quarter of purchases by US power plants. While waivers will be granted if no alternative source is available, these are planned to wind down by 2028, coincidentally this aligns with Silex’s planned ramp-up of production at their Kentucky facility. On the current plans, full-scale production would see 5mlbs of uranium material produced annually, the equivalent of a top 10 global uranium mine.

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Silex Systems (SLX)
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