SLX -15.77%: hit today after they came back online post capital raise, replenishing the coffers with ~$130m at $3.90 a piece, to support the commercialisation of its uranium enrichment technology in the US.
The shares have had a great run and it makes sense to raise the cash (we think), though they still had ~$70m on their balance sheet. The Co now expects to remain fully-funded through to the end of FY28 with cash reserves of approximately $214.6 million following placement.
The backing of the raise is a good indication that things are progressing, albeit at a slower pace than hoped when we bought the stock.
MM remains patiently long and bullish SLX
Add To Hit List
