- Uranium stockpiler Yellow Cake said its performance slipped in the first quarter as uranium prices softened.

The company's net asset value per share for the three months through March was £2.24.

Yellow Cake did not provide a comparative figure, though in its last quarterly update it said its NAV per share was £2.53, marking a fall of 11% on-quarter.

'Our confidence in the long-term outlook for uranium is unchanged despite the short-term uncertainty created by the Section 232 investigation in the US,' chief executive Andre Liebenberg said.

The Trump administration is currently investigating the impact of uranium imports on the country's domestic uranium sector.

'We see robust market fundamentals regardless of the outcome of the Section 232 investigation, where rising demand and constrained supply, together with the steady run-off of long-term contracts has created a positive price environment,' Liebenberg said.

'The recent pullback in the uranium price provided us with a good opportunity to acquire additional uranium at a competitive price.'

'Demand from institutional investors in the offering was strong, highlighting continued investor interest in uranium, and we thank them for their continued support.'

At 9:56am: [LON:YCA] Yellow Cake Plc Ord Gbp0.01 share price was +2.5p at 214.5p

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