VANCOUVER, BC, Oct. 27, 2023 /PRNewswire/ - Uranium Royalty Corp. (NASDAQ: UROY) (TSX: URC) ("URC" or the "Company") is pleased to announce that it has secured additional fixed-price uranium purchase commitments totaling 1 million pounds U3O8 in the current quarter. Deliveries will occur at Cameco Corporation's Blind River facility in Ontario, Canada during the fourth quarter of 2023. The weighted average purchase price for such commitments is US$70.44 per pound (TradeTech spot price is US$73.50 per pound as at October 26, 2023), which is expected to be satisfied through cash on hand and other liquid assets.
The Company is also pleased to announce it has received the first delivery of 300,000 pounds U3O8 under its purchase agreement with CGN Global Uranium Ltd. dated November 17, 2021 (see news release dated December 2, 2021). This agreement provides URC with exposure to an aggregate 500,000 pounds U3O8 from 2023 through 2025 at a weighted average price of US$47.71 per pound. The delivery of the remaining 200,000 pounds is expected to be completed in June 2024 and April 2025.
These purchases will increase URC's physical uranium inventory to approximately 2.65 million pounds U3O8 at weighted average cost of approximately US$54.08 per pound (valued at approximately US$195 million at the above referenced TradeTech spot price).
Scott Melbye, the Company's Chief Executive Officer, stated: "In the early stages of this uranium bull market, we recognized an opportunity to grow our physical uranium holdings alongside our royalty business, which includes 20 diversified royalties on 18 projects. These strategic purchases provide shareholders exposure to the strong fundamentals supporting a rising uranium price and a future source of liquidity to acquire additional royalty and streaming assets as opportunities arise."
About Uranium Royalty Corp.
Uranium Royalty Corp. (URC) is the world's only uranium-focused royalty and streaming company and the only pure-play uranium listed company on the NASDAQ. URC provides investors with uranium commodity price exposure through strategic acquisitions in uranium interests, including royalties, streams, debt and equity in uranium companies, as well as through trading of physical uranium.
#今日话题# #核电概念股# #碳中和# $Uranium Royalty(UROY)$ $铀矿ETF-Global X(URA)$ $北岸全球铀矿开采ETF-Exchange Traded Concepts(URNM)$