(in US dollars, except
quantity amounts) Quantity Cost Market Value
------------- ------------- -------------
Investments:
Physical Uranium Holdings -
U3O8 1,725,000 lbs $ 81,274,300 $ 79,350,000
Physical Uranium Holdings -
UF6 412,000 kg U $ 95,716,565 $ 52,118,000
------------- -------------
$ 176,990,865 $ 131,468,000
Average purchase/contracted
cost and market value per
lb of U3O8 $ 47.12 $ 46.00
Average purchase/contracted
cost and market value per kg
U of UF6 $ 232.32 $ 126.50
(1) Net asset value equals the total assets of the Company, less its total
liabilities (including accrued but unpaid fees) valued in accordance with
the Company's accounting policies, namely that investments in U3O8 are
valued at the average of (i) the month end UxC U3O8 spot price indicator
(as published by Ux Consulting Company, LLC in its Ux Weekly publication)
and (ii) the month end TradeTech U3O8 exchange value (as published by
TradeTech, LLC in the Nuclear Market Review), ("the Average U3O8 Published
Price"), and that investments in UF6 are valued at the average of (i) the
month end UxC UF6 spot NA price and (ii) the month end TradeTech UF6 value,
("the Average UF6 Published Price").
(2) Adjusted net asset value is equal to the net asset value adjusted to
include the fair value of forward Uranium purchase and sales contracts
entered into by the company with reference to the Average U3O8 Published
Price and the Average UF6 Published Price.
(3) The Company has issued an option over 2,475,000 shares exercisable at
any time (or times) during the period commencing on 21 July 2008 and ending
on 21 July 2011. The exercise price of the option is fixed at £2.05 per
share. For the purpose of calculating diluted net asset value it has been
assumed that the option was exercised at the date of the valuation. Diluted
NAV and diluted NAV per share are applicable only when the NAV per share is
greater than the exercise price of the respective outstanding share
options.
(4) All sterling amounts are translated at 31 August 2009 exchange rate of
US$1.6298.
About Nufcor Uranium Limited
Nufcor Uranium Limited is an investment company created to invest
substantially all of its assets in natural Uranium with the primary
investment objective of achieving capital appreciation in the value of its
Uranium holdings. Additional information about Nufcor Uranium Limited is
available on SEDAR at www.sedar.com and on the company's website at
www.nufcoruranium.com.
Contact Information: For further information, please contact: Smithfield Rupert Trefgarne +44 207 360 4900