StockMarketWire.com - Uranium stockpiler Yellow Cake said it had raised £25.9m from a share issue to fund the acquisition of more uranium.

New shares in the company were issued at £2.15 each.

Due to strong investor demand, the size of the placing was upped from the £22.9m originally proposed.

'The recent pullback in the uranium price has provided us with an excellent window to add to our uranium inventory at an attractive price,' chief executive Andre Liebenberg said.

'We are very confident in the long term fundamentals of the uranium market, where a combination of constrained supply, the run-off of long term contracts and growing demand outlook means we remain confident on the outlook for the uranium price.'





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