Yellow Cake (LSE:YCA) has delivered around 1.33 million pounds of triuranium octoxide from JSC National Atomic Company Kazatomprom at the Cameco storage facility in Canada.
The delivery is pursuant to a previously announced exercise by Yellow Cake of its 2025 uranium purchase option under a framework agreement with JSC National Atomic. As part of the deal, JSC National Atomic purchased 1.33 million pounds of triuranium octoxide at US$75.08 per pound – totalling US$100 million.
In February 2026, JSC National Atomic elected to purchase an additional 1.16 million pounds of triuranium octoxide at US$86.15 per pound, or equivalent to US$100 million. Yellow Cake expected to deliver the uranium in H2 2026.
Yellow Cake has also purchased an incremental 100,000 pounds of triuranium octoxide which will be delivered at Orano’s facility in France on 20 March 2026.
The uranium specialist company currently holds around 23 million pounds of triuranium octoxide in storage in Canada and France.
Yellow Cake is focused on buying and holding physical triuranium octoxide and engaging in uranium-related transactional activities, providing investors with liquid exposure to the uranium price and the opportunity to participate in value realised from related commercial activities.
Uranium futures were at around US$86 per pound at the time of writing, trading in a narrow range since pulling back from the two-year high of US$101.5 a pound in late January 2026.
Over the past month, uranium’s price has fallen 2.98%, but is still up 35% compared to a year ago, as reported by Trading Economics.
Write to Aaliyah Rogan at Mining.com.au
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