Yellow Cake PLC is not an operating miner, explorer or royalty company -- its own annual report states plainly that "Yellow Cake does not mine, process or enrich uranium." It is a specialist holding company, incorporated in Jersey, Channel Islands on 18 January 2018 and admitted to the London Stock Exchange's AIM market on 5 July 2018 (and to the OTCQX on 22 June 2022), whose entire strategy is to buy and hold physical triuranium octoxide (U3O8). In its own words, it exists "to acquire long-term holdings of U3O8 and not to actively speculate with regards to short-term changes in the price of U3O8," creating "an opportunity to realise value from long-term exposure to the uranium spot price in a low-risk, low-cost, liquid and publicly quoted vehicle." It holds no mining equities and no mineral properties; the material it owns outright is stored at Cameco's facility in Canada and Orano's facility in France. Alongside simply holding uranium it engages in related commercial activities such as location swaps and may enter into uranium lending transactions. As at 11 August 2026 the company held 24,374,996 pounds of U3O8 and reported net asset value of US$2,161.4 million (GBP 1,600.0 million), or GBP 6.37 per share -- built from US$2,114.5 million of U3O8 at the UxC spot price of US$86.75/lb plus US$46.9 million of cash and other net current assets. At the prior quarter end, 30 June 2026, it held 23,214,230 lb and NAV was GBP 6.34 per share.
Jurisdiction (40%, counts 100% here)9/10
Incorporated in Jersey, Channel Islands (registered office 3rd Floor, Gaspe House, 66-72 The Esplanade, St Helier; ISIN JE00BF50RG45) and quoted on AIM in London. Its genuine non-price risks are custody of physical material at third-party licensed conversion facilities and counterparty concentration in its long-term purchase arrangement with Kazatomprom, the Kazakh state uranium producer -- neither of which is what a jurisdiction score captures.
Infrastructure (40%)Not scored
This company holds investments in mining companies rather than owning or building a mine of its own, so a flagship infrastructure checklist isn't scored for it.
Nearby producing mine (20%)Not scored
Not scored for an investment/holding company, which holds investments in mining companies rather than owning or running a mine of its own.
Your Rankings
Management Team
Non-Executive Chairman of Yellow Cake plc (styled Lord St John of Bletso).
Chief Executive Officer of Yellow Cake plc.
Executive Director and Chief Financial Officer of Yellow Cake plc; director and co-founder of Mining Strategies Limited, which provides M&A and transaction advisory services to the metals and mining sector.
Insiders, Investors & Smart Money
Notable shareholders and insiders whose involvement is worth knowing about, plus what we're seeing from institutional/large-investor activity.
No smart-money tracking (institutional/large-investor activity) for this miner yet — this is a planned feature, not live data.
No notable insiders tracked for this miner yet.
Reports, Presentations & Documents
Yellow Cake is a Jersey-incorporated holding company, listed on London's AIM market since July 2018 and on the OTCQX since June 2022, that buys and holds physical uranium (U3O8) as a long-term investment; it does not mine, process or enrich uranium and owns no mineral properties. Its uranium is held at Cameco's facility in Canada and Orano's facility in France. Under a framework agreement with Kazatomprom that runs to 31 December 2027, Yellow Cake may buy up to US$100M of U3O8 a year at the prevailing spot price, and it exercised that option in February 2026 for 1,160,766 lb at US$86.15/lb. At 11 August 2026 it held 24,374,996 lb of U3O8 and reported a net asset value of US$2,161.4M (GBP 1,600.0M), or GBP 6.37 per share. Its shares can trade at a premium or a discount to that net asset value.