SLX 5.00% 38.0¢ silex systems limited

Silex

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    What's all this about?

    Announced by:SILEX SYSTEMS LIMITED (SLX)
    Announced on: 20/06/2002 09:30:50
    355 words
    Status: Market sensitive (Y)
    Industry Sub Group: High Technology (228)



    --------------------------------------------------------------------------------

    SILEX SYSTEMS LIMITED 2002-06-20 ASX-SIGNAL-G

    HOMEX - Sydney

    +++++++++++++++++++++++++
    USEC Inc, the US-based partner in the SILEX uranium enrichment
    development program, has confirmed its commitment to continue to
    support the program despite press speculation to the contrary.

    The announcement made by USEC yesterday regarding the deployment of
    US centrifuge technology does not change anything in the SILEX
    Technology program being conducted at our Lucas Heights Laboratories
    Dr Michael Goldsworthy, Silex CEO, said today. "USEC will continue to
    fund 100% of the project costs, with our FY'03 budget finalised just
    this week. Our focus remains on proving that SILEX is the superior
    technology, thereby allowing USEC to change its priorities as it
    moves forward to deploy advanced enrichment technology" he added.

    Mr Dan Stout, USEC's Director of Enrichment Technology, said: "We
    continue to support the development of the promising SILEX technology
    at a pace consistent with its stage of development, and are
    optimistic that SILEX can be an important contributor to making USEC
    the low cost uranium enricher in the decades to come"

    USEC is the world's largest supplier of uranium enrichment services,
    with approximately one third of the US$3.5 billion per annum market.
    USEC's initial deployment of centrifuge will most likely involve
    between 1 and 3.5 million SWU (enrichment units). With current total
    annual sales running at between 10 and 12 million SWU, there will
    thus be ample opportunity for substantial SILEX deployment, should it
    prove cost effective. The possibility of USEC increasing its market
    share also exists in this scenario.

    Meanwhile, laboratory testing with the 'Direct Measurement' facility
    commenced recently, and is expected to continue for the remainder of
    the calendar year. Silex remains confident that the results of this
    test program will provide positive evidence supporting the efficiency
    of the SILEX process, and contribute to USEC's decision for the
    second program milestone.

    New Website:

    For further information on the Company's activities, please visit our
    new website at : www.silex.com.au.

    Dr Michael Goldsworthy
    MANAGING DIRECTOR / CEO

    Contacts:
    Dr Michael Goldsworthy (02) 9532 1331
    Mr Chris Wilks (02) 9855 5555

    This announcement is issued in satisfaction of the company's
    obligations under ASX Listing Rule 3.10.3.


 
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