$ASPI #ASPI

ASP Isotopes, TerraPower reach loan and supply deals for construction of HALEU facility

ASP Isotopes (NASDAQ:ASPI) +11.7% post-market Monday after saying it entered into multiple agreements with TerraPower related to financing support for the construction of a new uranium enrichment facility capable of producing High Assay Low-Enriched Uranium, as well as the future supply of HALEU to TerraPower as a customer.

ASP (NASDAQ:ASPI) said a loan agreement provides conditional commitments from TerraPower through a wholly-owned U.S.-based subsidiary for a multiple advance term loan to partially finance a proposed new uranium enrichment facility in South Africa, which is designed to produce commercial quantities of HALEU, and is in discussions with a number of financial institutions to provide additional capital for the construction of the HALEU production facility.

In addition to the loan agreement, ASP (ASPI) and TerraPower entered into two supply agreements for the HALEU expected to be produced at the South African uranium enrichment facility, an initial core supply agreement to support the supply the required first fuel cores for the initial loading of TerraPower’s Natrium project in Wyoming, and a 10-year supply agreement of as much as 150 metric tons of HALEU during 2028-37.

ASP (ASPI) and TerraPower also agreed to explore opportunities to develop other uranium enrichment production facilities in the U.S.

Technical Analysis:

It’s right at the $7.62 resistance and has hit the correction band exactly where the most critical news dropped. I expect a move toward the red resistance, as indicated by the green arrow.