Yellow Cake plc reported operating update for the quarter ended December 31, 2020. For the quarter, Value of U3O8 held by Yellow Cake was USD 279.5 million at 31 December 2020. Estimated net asset value at 31 December 2020 was £2.44 per share [2] or USD 280.5 million, comprising 9.32 million lbs of physical uranium (U3O8) valued at a spot price of USD 30.00/lb and other net assets. Yellow Cake's estimated net asset value as at 22 January 2021 was £2.43 per share. Increase in value of U3O8 held by Yellow Cake over the quarter from USD 277.2 million to USD 279.5 million. Total increase in value of U3O8 held by Yellow Cake at 31 December 2020 of 38% to USD 279.5 million relative to the aggregate acquisition cost of USD 202.3 million. Total U3O8 holdings of 9.32 million lb acquired at an average cost of USD 21.71/lb.