Silex Systems enters trading halt ahead of capital raise
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The news: Laser technology business Silex Systems has entered a trading halt ahead of a capital raise shortly after announcing that it has made key regulatory progress for plans to establish a laser enrichment facility for uranium in the US.
The context: The trading halt has been entered as it "allows the capital raising to take place in an orderly manner".
On Wednesday morning, Silex told the market that the US Nuclear Regulatory Commission had completed its acceptance review of joint venture Global Laser Enrichment’s (GLE) licence application for the Paducah Laser Enrichment Facility planned for Western Kentucky. The application will now proceed to formal review.
GLE aims to deploy laser enrichment technology for the production of natural grade uranium from depleted uranium tails and low-enriched uranium.
On Monday, Silex announced that GLE has been invited to bid for work under task order two of the US Department of Energy’s low-enriched uranium enrichment acquisition program, which could be worth up to USD900 million.
What they said: “With the tailwinds for the nuclear industry the strongest ever witnessed, we look forward to supporting GLE’s efforts to establish new US enrichment capacity, helping to restore US leadership in nuclear technology and contributing to US energy security ambitions,” Silex CEO and managing director Michael Goldsworthy said.
