An investment vehicle designed to profit from the rising price of uranium is to snap up another £8m-worth of the radioactive mineral. Yellow Cake, which raised $200m (£156m) in a successful float on the London Stock Exchange earlier this summer, said it would buy another 350,000 lb of uranium from Kazakh supplier Kazatomprom and store it with the rest of its holding at a special facility in Canada. The move means that Yellow Cake is now sitting on 8.4m lb of uranium, more than 5pc of global supply. The latest tranche was bought at below spot prices using excess funds left over from the company’s initial public offering, which raised slightly more than it had anticipated.
Telegraph 10th Aug 2018 read more »