Net Asset Value(s)
September 07 2007 - 6:14AM
UK Regulatory
RNS Number:4834D
Nufcor Uranium Limited
07 September 2007
THIS ANNOUNCEMENT IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO THE
UNITED STATES, CANADA, JAPAN OR AUSTRALIA
NUFCOR URANIUM LIMITED REPORTS NET ASSET VALUE AND ADJUSTED NET
ASSET VALUE AT
31 AUGUST 2007
Nufcor Uranium Limited ("NUL") reports its net asset value (1) and adjusted net
asset value (2) at 31 August 2007 was #126,939,411 ($256,049,487) or #3.08 per
share (US$6.21 per share). Its diluted net asset value (3) and adjusted diluted
net asset value at 31 August 2007 was #3.02 per share (US$6.09 per share).
As at 31 August 2007, NUL's investment portfolio consisted as follows:
(in US dollars, except Quantity Cost Market Value
quantity amounts) --------- ---------- ----------
-----------------------
Investments:
Physical Uranium Holdings - U3O8 2,300,000 lbs $108,366,000 $201,250,000
Physical Uranium Holdings - UF6 200,000 kg U $64,260,000 $46,500,000
---------------------- ---------- ---------- ---------
$172,626,000 $247,750,000
---------------------- --------- ---------- ----------
Average purchase/contracted
cost and market value per lb of U3O8 $47.12 $87.50
Average purchase/contracted cost and
market value per kg U of UF6 $321.30 $232.50
1 Net asset value equals the total assets of the Company, less its adjusted
total liabilities (including accrued but unpaid fees) valued in accordance with
the Company's accounting policies, except that investments in U3O8 are valued at
the average of (i) the month end UxC U3O8 spot price indicator (as published by
Ux Consulting Company, LLC in its Ux Weekly publication) and (ii) the month end
TradeTech U3O8 exchange value (as published by TradeTech, LLC in the Nuclear
Market Review), ("the Average U3O8 Published Price"), and that investments in
UF6 are valued at the average of (i) the month end UxC UF6 spot NA price and
(ii) the month end TradeTech UF6 value, ("the Average UF6 Published Price").
2 Adjusted net asset value is equal to the net asset value adjusted to include
the fair value of forward Uranium purchase and sales contracts entered into by
the company with reference to the Average U3O8 Published Price and the Average
UF6 Published Price.
3 The Company has issued an option over 2,475,000 shares exercisable at any time
(or times) during the period commencing on 21 July 2008 and ending on 21 July
2011. The exercise price of the option is fixed at #2.05 per share. For the
purpose of calculating diluted net asset value it has been assumed that the
option was exercised at the date of the valuation.
4 All sterling amounts are translated at the 31 August 2007 exchange rate of US$
2.01710 / #1.00.
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.
For further information, please contact:
Nufcor Capital Limited +44 207 939 1830
Gary Stoker
Rian Raghavjee
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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