BOARD CHANGE
3 January 2006
The Board of Yellowcake, the uranium mining sector investment company, is pleased to announce today that from 1st January 2006 Mark Watson-Mitchell has assumed the role of Executive Chairman of the Company. This change from Non-Executive to Executive Chairman reflects the increase in his role within the Company as it proceeds expansively into the current calendar year.
The Company's Board is very confident that the resurgence of the nuclear industry, which is increasing the demand for uranium, is expected to continue for many years to come.
KEY INFORMATION
Yellowcake is another name for the concentrated oxide of uranium which is formed in the milling of uranium ore.
The Company was formed to offer investors a stake in the global uranium mining industry. Uranium is the raw material used in nuclear power stations where its zero emissions allow countries to produce increased levels of energy while reducing the release of greenhouse gases into the atmosphere.
To date Yellowcake has invested in some of the leading uranium producing mining companies, in a number of businesses with proven reserves of uranium but not yet producing, as well as several uranium exploration companies.
Its strategy also includes taking direct stakes in uranium mining projects initially in Canada, the USA, South Africa and in various states of the former Soviet Union. Yellowcake's interest in any of those selected projects may range from a minority holding to a fully owned stake. Its investments may be made in quoted or unquoted companies and could also be in uranium holding funds, partnerships or by way of joint ventures.
The Directors continue to study the global uranium sector, looking to identify a number of projects to evaluate seeking good capital returns.
Further Information:
Yellowcake Plc
Robert Wallace, Chief Executive
Email: robert@yellowcakeplc.co.uk
Tel: 07970 648 480
Mark Watson-Mitchell, Executive Chairman
Email: mark@yellowcakeplc.co.uk
Tel: 020 7638 8750
The Directors of the Issuer accept responsibility for this announcement.