SILEX SYSTEMS LIMITED (SLX)
Share Price Analysis and Chart

24/02/2025

1

Buy, High Risk

$6.90

67.88%

Shaw and Partners observes Silex Systems is progressing uranium enrichment trials at its Test Loop pilot facility in Wilmington, North Carolina, with Technology Readiness Level 6 (TRL-6) now expected to be completed in H2 of 2025.

The broker considers successful trial results a potential catalyst for the share price, as technology risk remains a key factor limiting investor confidence.

A positive outcome could also prompt Cameco to exercise its option to acquire an additional 26% stake in the GLE joint venture and increase the likelihood of securing government funding, assess the analysts.

The broker lowers its target price to $6.90 from $7.20 due to the delayed TRL-6 timeline and maintains a Buy, High Risk rating.

FORECAST
Shaw and Partners forecasts a full year FY25 dividend of 0.00 cents and EPS of minus -13.10 cents.
Shaw and Partners forecasts a full year FY26 dividend of 0.00 cents and EPS of minus -14.40 cents.

27/02/2025

1

Speculative Buy

$6.46

57.18%

Canaccord Genuity has trimmed Silex Systems' target price to allow for minor delays to the first production date to 2H29.

The broker believes Silex is well-placed to benefit from the nuclear renaissance, noting Global Laser Enrichment (50% Silex) was selected by the US Department of Energy under the low-enriched uranium program.

Global Laser is targeting a US Nuclear Regulatory Commission licence in early 2028. Speculative Buy rating maintained and target price is $6.46.

FORECAST
Canaccord Genuity forecasts a full year FY25 EPS of 4.14 cents.
Canaccord Genuity forecasts a full year FY26 EPS of 0.92 cents.