Silex Systems Likely to Benefit From Licensee's Share of US DOE Funding, Euroz Harltey Says

MT Newswires Live

Feb 24, 2025

Silex Systems' (ASX:SLX) share price could rise by AU$1.90 per share on an attributable basis when its US licensee, Global Laser Enrichment (GLE), secures its AU$567 million share from the US Department of Energy (DOE), Euroz Hartleys said in a Feb. 21 note.

GLE is one of the six awardees recently selected by the DOE under its AU$3.4 billion low-enriched uranium (LEU) acquisition program.

Euroz Hartleys believes the AU$567 million estimate is "aggressive," assuming most funding is for LEU offtake rather than enrichment capacity development.

SLX said on Feb. 21 that the start of full enrichment testing of its pilot demonstration program TRL-6 with GLE is imminent and is expected to be completed by mid-fiscal 2025.

Preliminary testing for TRL-6 had previously started in late fiscal 2024 but triggered some engineering modifications, which are now completed.

Euroz Hartleys maintained SLX's speculative buy rating but raised its price target to AU$7.70 from AU$7.30.

Shares of Silex Systems fell 3% in recent Monday trade.

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