Net Asset Value(s)
September 04 2009 - 10:37AM
UK Regulatory
TIDMNU.
RNS Number : 5818Y
Nufcor Uranium Limited
04 September 2009
THIS ANNOUNCEMENT IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO THE
UNITED STATES, JAPAN OR AUSTRALIA
NUFCOR URANIUM LIMITED REPORTS NET ASSET VALUE AND ADJUSTED NET ASSET VALUE AT
31 August 2009
Nufcor Uranium Limited ("NUL") reports its net asset value1 and adjusted net
asset value2 at 31 August 2009 was GBP81,973,955 (US$133,601,152) or GBP1.99 per
share (US$3.24 per share). Its diluted net asset value3 and adjusted diluted net
asset value at 31 August 2009 was also GBP1.99 per share (US$3.24 per share).
As at 31 August 2009, NUL's investment portfolio consisted as follows:
+----------------------------------+---------------+------------------+-----------------+
| (in US dollars, except | Quantity | Cost | Market |
| quantity amounts) | | | Value |
+----------------------------------+---------------+------------------+-----------------+
| | | | |
+----------------------------------+---------------+------------------+-----------------+
| Investments: | | | |
+----------------------------------+---------------+------------------+-----------------+
| Physical Uranium Holdings - | 1,725,000 | $81,274,300 | $79,350,000 |
| U3O8 | lbs | | |
+----------------------------------+---------------+------------------+-----------------+
| Physical Uranium Holdings - | 412,000 kg U | $95,716,565 | $52,118,000 |
| UF6 | | | |
+----------------------------------+---------------+------------------+-----------------+
| | | $176,990,865 | $131,468,000 |
+----------------------------------+---------------+------------------+-----------------+
| | | | |
+----------------------------------+---------------+------------------+-----------------+
| Average purchase/contracted cost | | $47.12 | $46.00 |
| and market value per lb of U3O8 | | | |
+----------------------------------+---------------+------------------+-----------------+
+----------------------------------+------------+--------------+-------------+
| Average purchase/contracted cost | | $232.32 | $126.50 |
| and market value per kg U of UF6 | | | |
+----------------------------------+------------+--------------+-------------+
1 Net asset value equals the total assets of the Company, less its total
liabilities (including accrued but unpaid fees) valued in accordance with the
Company's accounting policies, namely that investments in U3O8 are valued at the
average of (i) the month end UxC U3O8 spot price indicator (as published by Ux
Consulting Company, LLC in its Ux Weekly publication) and (ii) the month end
TradeTech U3O8 exchange value (as published by TradeTech, LLC in the Nuclear
Market Review), ("the Average U3O8 Published Price"), and that investments in
UF6 are valued at the average of (i) the month end UxC UF6 spot NA price and
(ii) the month end TradeTech UF6 value, ("the Average UF6 Published Price").
2 Adjusted net asset value is equal to the net asset value adjusted to include
the fair value of forward Uranium purchase and sales contracts entered into by
the company with reference to the Average U3O8 Published Price and the Average
UF6 Published Price.
3 The Company has issued an option over 2,475,000 shares exercisable at any time
(or times) during the period commencing on 21 July 2008 and ending on 21 July
2011. The exercise price of the option is fixed at GBP2.05 per share.For the
purpose of calculating diluted net asset value it has been assumed that the
option was exercised at the date of the valuation. Diluted NAV and diluted NAV
per share are applicable only when the NAV per share is greater than the
exercise price of the respective outstanding share options.
4 All sterling amounts are translated at 31 August 2009 exchange rate of
US$ 1.6298.
About Nufcor Uranium Limited
Nufcor Uranium Limited is an investment company created to invest substantially
all of its assets in natural Uranium with the primary investment objective of
achieving capital appreciation in the value of its Uranium holdings. Additional
information about Nufcor Uranium Limited is available on SEDAR at www.sedar.com
and on the company's website at www.nufcoruranium.com .
For further information, please contact:
+-------------------------------------+-------------------------------------+
| Smithfield | +44 207 360 4900 |
| Rupert Trefgarne | |
+-------------------------------------+-------------------------------------+
This information is provided by RNS
The company news service from the London Stock Exchange
END
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