SILEX SYSTEMS LIMITED Silex Systems Limited Operational Update
22 February 2016
(ASX: SLX) (OTCQX: SILXY)
Forward Looking Statements
Silex Systems is a research and development Company whose primary asset is the SILEX laser enrichment technology, originally developed in the Company's technology facility in Sydney, Australia. The SILEX technology, licensed exclusively to GE-Hitachi Global Laser Enrichment LLC (GLE) in the USA, is currently in the engineering development stage and plans for commercial deployment remain distant and high risk. The commercial potential of this technology is therefore unknown. Accordingly, the statements in this announcement regarding the future of the SILEX technology and any commercial prospects are forward looking and actual results could be materially different from those expressed or implied by such forward looking statements as a result of various risk factors.
Some risk factors that could affect future results and commercial prospects include, but are not limited to: results from the SILEX uranium enrichment engineering development program being conducted jointly by the Company and GLE; the demand for natural uranium and enriched uranium; the time taken to develop the SILEX technology; the potential development of competing technologies; the potential for third party claims against the Company's ownership of Intellectual Property; the potential impact of government regulations or policies in the USA, Australia or elsewhere; and the outcomes of various commercialisation strategies undertaken by the Company and/or its Licensee GLE.
The forward looking statements included in this presentation may involve subjective judgment and analysis and are subject to significant business, economic and competitive uncertainties, risks and contingencies, many of which are outside the control of, and are unknown to Silex. Given these uncertainties, you are cautioned to not place undue reliance on such forward looking statements.
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The Company
Silex Systems is an advanced technology company focused on the development and commercialisation of its innovative and potentially disruptive laser-based 'SILEX' uranium enrichment technology
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Key Activities and Status of Silex
Company restructure announced in June 2014 now complete
Key decision was to return the focus of the company to the development and commercialisation of our
foundation technology, the SILEX laser-based uranium enrichment technology
The corporate restructure has resulted in the following outcomes during 2015:
- Solar Systems - Mildura and Bridgewater properties sold for $1.7 million, assets sales net $0.6 million to date, negotiations with third parties continue regarding the sale of IP and remaining assets;
-
Translucent - exclusive License and Assignment Agreement signed with UK-based IQE Plc in
September 2015. Technology transfer to IQE advancing rapidly. (Refer to following slide); and
- Corporate - 50% reduction in headcount, 50% reduction of leased space for our corporate office.
Silex is in a sound financial position - current cash reserves approximately $55 million or $0.32 per share (at time of writing our share price was ~$0.32)
Focussing on the commercialisation of the SILEX Technology is considered the best path forward to create value for shareholders with nuclear fuel markets returning to positive growth
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Silex Systems Limited issued this content on 22 February 2016 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 22 February 2016 00:08:33 UTC
Original Document: http://www.silex.com.au/getattachment/72644863-d40f-41df-9aa0-0568f95ce09d/Operational-Update-22-02-16-Presentation-(final).pdf.aspx?ext=.pdf
