Uranium Participation Corporation (TSX:U) reported that its estimated net asset value at January 31, 2018 was C$459.3 million or C$3.47 per share.
As quoted in the press release:
Fair values are month-end spot prices published by Ux Consulting Company, LLC, translated at the Bank of Canada’s month-end daily exchange rate of $1.2293.On January 31, 2018, the common shares of UPC closed on the TSX at a value of CAD$3.90, which represents a 12.39% premium to the net asset value of CAD$3.47 per share.
On December 29, 2017, the Corporation entered into an agreement with a primary UF6 conversion supplier to sell the conversion components contained in 786,241 KgU as UF6. The sale was completed on January 31, 2018 and resulted in the exchange of 786,241 KgU as UF6 for 2,054,330 pounds U3O8 plus cash consideration of US$3,538,000. In connection with this transaction, the Corporation also amended its storage arrangements with the primary supplier to provide for beneficial storage terms that are fixed for the period through December 31, 2028. This transaction has simplified UPC’s uranium holdings and, most significantly, will provide storage price certainty on a significant portion of the Corporation’s uranium holdings for a period of 11 years.