Silex Systems' US-Based Licensee Acquires Land in Kentucky; Silex Shares Fall 4%

MT Newswires Live2024-11-27

Silex Systems (ASX:SLX) said the licensee of its uranium enrichment technology, Global Laser Enrichment (GLE), acquired a 665-acre parcel of land for the planned laser enrichment facility in Paducah, Kentucky, according to a Wednesday filing with the Australian bourse.

The land was obtained through an agreement with the Commonwealth of Kentucky, the Kentucky Department of Fish and Wildlife Resources, and the Paducah-McCracken County Industrial Development Authority, the filing said.

GLE's acquired land is located next to the Paducah gaseous diffusion plant, which provides access to tonnes of depleted uranium hexafluoride tails inventories, minimizing transportation costs, per the filing.

The acquisition supports GLE's agreement with the US Department of Energy to acquire over 200,000 metric tonnes of depleted uranium hexafluoride tails inventories for processing using Silex System's laser enrichment technology, the filing added.

Silex Systems will contribute 51% of the land's purchase price, though the other terms of the acquisition remain undisclosed.

The licensee is on track to submit its environmental report in December 2024, with a license application slated for mid-2025.

The technology company's shares fell nearly 4% in recent Wednesday trade.

Price (AUD): $5.73, Change: $-0.23, Percent Change: -3.86%

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