Silex Systems (ASX:SLX) rejoices as US DOE amends sales agreement

Company News

by Katrina Bullock

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.
 

Katrina Bullock

Finance News Network
Katrina is a respected TV journalist, as well as a renowned presenter and award winning lawyer. She holds a Bachelor of Laws (Honours 1st class, division 1), a Bachelor of Business (with Distinction) and is currently undertaking a PhD in Law focused on stock exchange disclosures and corporate governance. She began her career as a corporate lawyer in an Australian top tier commercial law firm and is currently the General Counsel of Greenpeace Australia Pacific. In 2020 Katrina was named one of the 30 best lawyers in Australia under 30 by Lawyer's Weekly.