19 January 2024

Yellow Cake plc named to 2024 OTCQX Best 50

Yellow Cake plc ("Yellow Cake" or the "Company"), a specialist company operating in the uranium sector holding physical uranium for the long term, is pleased to announce it has been named to the 2024 OTCQX® Best 50, a ranking of top performing companies traded on the OTCQX Best Market last year.

The OTCQX Best 50 is an annual ranking of the top 50 U.S. and international companies traded on the OTCQX market. The ranking is calculated based on an equal weighting of one-year total return and average daily dollar volume growth in the previous calendar year. Companies in the 2024 OTCQX Best 50 were ranked based on their performance in 2023. 

Yellow Cake was first admitted to trading on the AIM Market of the London Stock Exchange via an IPO in July 2018, with a valuation and equity raising of approximately £151 million (US$200 million). Yellow Cake was subsequently admitted to trading on OTCQX in June 2022, with a market capitalisation at that time of £591 million (US$724 million).

Today, Yellow Cake is valued at £1,582 million (US$2,002 million)[1], and the Company has grown to become one of the largest holders of physical uranium in the world.

Andre Liebenberg, CEO of Yellow Cake, said:

"We are proud to have been named to the 2024 OTCQX® Best 50. It's a sign of the considerable progress we have made and the value we have delivered on behalf of our shareholders since taking the decision to join the OTCQX market. Though we celebrate our nomination today we remain fully focused on the future. We continue to see a hugely compelling investment case for uranium, driven by the same supply demand fundamentals that saw us come to OTCQX in 2022. Nuclear power is now accepted globally as a core element of the future clean energy mix driven by long term demand, while geological and geopolitical factors will put a strain on future supply. We look forward with real confidence in our strategy and the outlook for uranium."

For the complete 2024 OTCQX Best 50 ranking, visit https://www.otcmarkets.com/files/2024_OTCQX_Best_50.pdf.

The OTCQX Best Market offers transparent and efficient trading of established, investor-focused U.S. and global companies. To qualify for the OTCQX market, companies must meet high financial standards, follow best practice corporate governance, and demonstrate compliance with applicable securities laws.

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ENQUIRIES: 

ABOUT YELLOW CAKE

Yellow Cake is a London-quoted company, headquartered in Jersey, which offers exposure to the uranium spot price. This is achieved through its strategy of buying and holding physical triuranium octoxide ("U₃O₈"). It may also seek to add value through other uranium related activities. Yellow Cake seeks to generate returns for shareholders through the appreciation of the value of its holding of U₃O₈ and its other uranium related activities in a rising uranium price environment. The business is differentiated from its peers by its ten-year Framework Agreement for the supply of U₃O₈ with Kazatomprom, the world's largest uranium producer. Yellow Cake currently holds 20.16 million pounds of U₃O₈, all of which is held in storage in Canada and France. 

FORWARD LOOKING STATEMENTS

Certain statements contained herein are forward looking statements and are based on current expectations, estimates and projections about the potential returns of the Company and the industry and markets in which the Company will operate, the Directors' beliefs and assumptions made by the Directors. Words such as "expects", "anticipates", "should", "intends", "plans", "believes", "seeks", "estimates", "projects", "pipeline", "aims", "may", "targets", "would", "could" and variations of such words and similar expressions are intended to identify such forward looking statements and expectations. These statements are not guarantees of future performance or the ability to identify and consummate investments and involve certain risks, uncertainties and assumptions that are difficult to predict, qualify or quantify. Therefore, actual outcomes and results may differ materially from what is expressed in such forward looking statements or expectations. Among the factors that could cause actual results to differ materially are: uranium price volatility, difficulty in sourcing opportunities to buy or sell U₃O₈, foreign exchange rates, changes in political and economic conditions, competition from other energy sources, nuclear accident, loss of key personnel or termination of the services agreement with 308 Services Limited, changes in the legal or regulatory environment, insolvency of counterparties to the Company's material contracts or breach of such material contracts by such counterparties. These forward-looking statements speak only as at the date of this announcement. The Company expressly disclaims any obligation or undertaking to disseminate any updates or revisions to any forward looking statements contained herein to reflect any change in the Company's expectations with regard thereto or any change in events, conditions or circumstances on which any such statements are based unless required to do so by applicable law or the AIM Rules.