Uranium play Silex Systems in $40m deal via Shaw and Partners, Euroz News23 Sep 2021

Silex Systems is seeking to cash in on investor interest with a $40 million equity raising.

 

Stockbrokers EurozHartleys and Shaw and Partners were lining up funds for the deal on Thursday morning.

 

Proceeds were pegged for the group’s Paduch Laser Enrichment Facility in Kentucky, and its more recent move into quantum computing.

 

It comes after a strong run in the company’s share price, up 20 per cent in the past six months.

 

The company has a proprietary laser enrichment technology, targeted at the nuclear fuel and quantum computing industries. It was set up in 1988 as Sonic Healthcare’s research subsidiary, and has been developing laser-based isotope separation technology since 1992. It was spun off to Sonic shareholders in 1996.

 

Its projects include Paduch, which is held by its technology licensee Global Enrichment LLC and has a deal to purchase depleted uranium tails and try to turn the tails back into natural grade uranium.

 

The company’s shares went into a trading halt on Thursday morning.

 

Article source: AFR, 23 September 2021

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