Centrus Energy Corp. (AMEX:LEU) Q1 2024 Earnings Call Transcript

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Joseph Reagor: Okay. And then completely different topic. I saw that the UK government is giving approximately GBP 200 million to Urenco to build a HALEU facility in the UK. One, do you think that is any impact on you guys given it’s an ally? Or is it also potentially a positive given that they’re giving them money? And then you mentioned the size of your facility if you guys went completely towards producing LEU, how much could you guys produce from that facility if you built it out?

Amir Vexler: Okay, multi-part question. Let me answer the first one relating to the announcement this morning. So, yeah, here we have our competitors are state-owned and further reinforcement of that is it’s a sole source award by the UK government to one of our competitors. Now, what are the implications to – what implications to Centrus? Well, number one, I’d like to point out that that we’re already enriching HALEU. We are far ahead of folks that are just stepping into this now. So we’re talking about licensing, designing, installing, building. We’re much farther along that path. Now to me, the way I read the cards here is that you have a government that’s stepping in and putting hundreds of millions of dollars into the HALEU market.

I think this is a positive sign that there is a strong belief even just beyond the commercial community up to the government of the UK that the advanced reactors are a reality. The advanced reactors will require HALEU and this is not just a phantom need. So to me, this is a very positive signal. As I said, I believe we are ahead of the competition, because we are enriching HALEU. And beyond that, I am not sure there is anything else with comments.

Joseph Reagor: Okay. And the second part about the LEU capacity.

Amir Vexler: Yeah. So thank you for reminding me the second part of the question. I was trying to remember. So if you are thinking about our building and how large it is. We really are estimating at $3.5 million SWU in the existing building and the existing license. So that’s quite a bit.

Joseph Reagor: And that’s on the annual basis $3.5 million?

Amir Vexler: Correct.

Joseph Reagor: Okay. All right. Thanks. I’ll turn it over.

Amir Vexler: Thank you, Joe.

Operator: [Operator Instructions] There are no further questions at this time. I would like to turn the conference back over to Dan for closing remarks.

Dan Leistikow: Thank you, operator. This will conclude our Investor call for the first quarter of 2024. As always I want to extend a thank you to our listeners online and our investors who called in. We look forward to speaking with you again next quarter.

Operator: Thank you. This will conclude today’s conference. You may disconnect your lines at this time and thank you for your participation.

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