Uranium Participation Corporation Reports Net Asset Value at December 31, 2015
TORONTO, ONTARIO--(Marketwired - Jan. 6, 2016) -
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Uranium Participation Corp. (TSX:U) ("UPC") reports its estimated net asset value at December 31, 2015 was CAD$708.9 million or CAD$6.13 per share. As at December 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 | $ | 448,898 | ||||
| Uranium hexafluoride ("UF6") | 1,903,471 KgU | $ | 251,5871 | ||||
| $ | 700,485 | ||||||
| U3O8 market value per pound: | |||||||
| - In Canadian dollars | $ | 47.402 | |||||
| - In United States dollars | $ | 34.25 | |||||
| UF6 market value1 per KgU: | |||||||
| - In Canadian dollars | $ | 132.17 2 | |||||
| - In United States dollars | $ | 95.50 | |||||
| 1 | The fair value adjustment of $1,316,000 is to reflect the risk associated with the remaining material held with the USEC Facility. |
| 2 | Market values are month-end spot prices published by Ux Consulting Company, LLC, translated at the month-end noon exchange rate of $1.3840. |
In November and December, UPC was able to arrange the transfer of 675,434 KgU as UF6 originally stored at the at the United States Enrichment Corporation's enrichment facility ("USEC Facility") to other facilities. As a result, UPC has reduced the fair value adjustment from CAD$3,987,000 to CAD$1,316,000. This reduction in the fair value adjustment has been reflected in the December net asset value calculation.
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
Ron Hochstein
President and Chief Executive Officer
(416) 979-1991 Ext. 232
James Anderson
Chief Financial Officer
(416) 473-7005