550 tons of yellowcake. Wikipedia says yellowcake is 70%-90% pure U
3O
8. Let's say 80%. So 550 tons of yellowcake would be 440 tons of U
3O
8. The uranium is about 85% of the U
3O
8 by weight. That leaves 374 tons of uranium. 0.711% of uranium is the U-235 which can be used in atomic bombs. That means they had 2.66 tons of U-235. That's enough for about 40 Hiroshima sized atomic bombs. And a lot more if you start building reactors to create plutonium for bombs.
Nope, no WMDs there.