Uranium Participation Corporation Reports Net Asset Value at October 31, 2015
TORONTO, ONTARIO--(Marketwired - Nov. 3, 2015) -
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Uranium Participation Corp. (TSX:U) ("UPC") reports its estimated net asset value at October 31, 2015 was CAD$703.9 million or CAD$6.09 per share. As at October 31, 2015, UPC's investment portfolio consisted of the following:
| (in thousands of Canadian dollars, except quantity amounts) | Quantity | Fair Value | |||
| Investments in Uranium: | |||||
| Uranium oxide in concentrates ("U3O8") | 9,470,024 lbs | $ | 452,222 | ||
| Uranium hexafluoride ("UF6") | 1,903,471 KgU | $ | 246,2891 | ||
| $ | 698,511 | ||||
| U3O8 market value per pound: | |||||
| - In Canadian dollars | $ | 47.752 | |||
| - In United States dollars | $ | 36.50 | |||
| UF6 market value1 per KgU: | |||||
| - In Canadian dollars | $ | 129.39 2 | |||
| - In United States dollars | $ | 98.90 | |||
1 Includes a CAD$3,987,000 fair value adjustment for UPC's UF6 inventory held at the United States Enrichment Corporation's enrichment facility.
2 Market values are month-end spot prices published by Ux Consulting Company, LLC, translated at the month-end noon exchange rate of $1.3083.
During October, UPC purchased 867,700 of its outstanding shares, under the normal course issuer bid filed in November 2014, given the significant discount of UPC's share price relative to its net asset value. UPC purchased the 867,700 shares at an average price of CAD$5.185 per share, for a total cost of CAD$4,499,000. To fund the purchase of its shares, UPC sold 100,000 pounds U3O8 at a price of US$36.25 per pound U3O8 in October 2015. Ron Hochstein, President and CEO of Uranium Participation Corp. stated that "Through these actions, the Company was able to sell uranium at a higher price and repurchase the shares which were trading at a significantly lower implied uranium price."
As at October 31, 2015, the number of UPC shares outstanding was reduced to 115,648,713.
About Uranium Participation Corporation
Uranium Participation Corp. is a company that invests substantially all of its assets in uranium oxide in concentrates ("U3O8") and uranium hexafluoride ("UF6") (collectively "uranium"), with the primary investment objective of achieving appreciation in the value of its uranium holdings through increases in the uranium price. Additional information about Uranium Participation Corporation is available on SEDAR at www.sedar.com and on Uranium Participation Corp.'s website at www.uraniumparticipation.com.
Contact
Uranium Participation Corp.
Ron Hochstein
President and Chief Executive Officer
(416) 979-1991 Ext. 232
Uranium Participation Corp.
James Anderson
Chief Financial Officer
(416) 979-1991 Ext. 372
www.uraniumparticipation.com
