Uranium Royalty secures additional fixed-price uranium purchase commitments

Uranium Royalty announced that it has secured additional fixed-price uranium purchase commitments totaling 1M pounds U3O8 in the current quarter. Deliveries will occur at Cameco Corporation’s Blind River facility in Ontario, Canada during the fourth quarter of 2023. The weighted average purchase price for such commitments is $70.44 per pound, which is expected to be satisfied through cash on hand and other liquid assets. The company is also pleased to announce it has received the first delivery of 300,000 pounds U3O8 under its purchase agreement with CGN Global Uranium dated November 17, 2021. This agreement provides URC with exposure to an aggregate 500,000 pounds U3O8 from 2023 through 2025 at a weighted average price of $47.71 per pound. The delivery of the remaining 200,000 pounds is expected to be completed in June 2024 and April 2025. These purchases will increase URC’s physical uranium inventory to approximately 2.65 million pounds U3O8 at weighted average cost of approximately US$54.08 per pound.