Silex Systems (ASX:SLX) rejoices as US DOE amends sales agreementCraig Foley
R&D company Silex Systems (ASX:SLX) has announced that the 2016 Sales Agreement between Global Laser Enrichment and the US Department of Energy has been amended to better align with current nuclear fuel market conditions.
Last December Silex Systems executed a deal which would result in it owning a 51 per cent stake in Global Laser Enrichment. The restructure is subject to US Government approval, which is expected by the end of the calendar year.
The new sales agreement amendments should provide Global Laser Enrichment with access to large stockpiles of depleted Uranium hexafluoride which are owned by the Department of Energy.
These inventories are critical to the Paducah commercial project opportunity, which is viewed as an ideal path to market for the SILEX technology.
Shares in Silex Systems (ASX:SLX) are trading 17.91 per cent higher at 40 cents.
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