By Jaime Llinares Taboada
Yellow Cake PLC said Monday that it has agreed to sell and buy back uranium from NAC Kazatomprom JSC at a net cost of $6.6 million.
The London-listed uranium company said that Kazatomprom exercised a repurchase option over 2.0 million pounds of uranium at a price of $43.25 per pound, less a discount of $6.6 million. Yellow Cake has agreed to buy back the same quantity at the same price per pound.
Shares in Yellow Cake at 0906 GMT were down 2.4% at 341.5 pence.
Write to Jaime Llinares Taboada at jaime.llinares@wsj.com; @JaimeLlinaresT