Uranium Energy Corp reports developments in uranium production, project development and nuclear fuel-cycle infrastructure. Company updates center on in-situ recovery uranium operations in Wyoming and South Texas, including Burke Hollow, Christensen Ranch and the Irigaray Central Processing Plant, as well as uranium inventory, sales activity and unhedged exposure to uranium market pricing.
Recurring news also covers the company’s Canadian uranium portfolio anchored by the Roughrider Project in Saskatchewan, its United States Uranium Refining & Conversion Corp subsidiary, regulatory milestones tied to mining and conversion activities, public financing activity, quarterly operating results and U.S. policy actions affecting uranium as a critical mineral.
Uranium Energy Corp (UEC) has filed a Technical Report Summary (TRS) detailing mineral resources at its Yuty Project in Paraguay. The report states a total indicated resource of 8,962,000 lbs with 9,074,000 tons grading 0.049% U3O8 and an inferred resource of 2,203,000 lbs with 2,733,000 tons grading 0.040% U3O8. Prepared under SEC Regulation S-K 1300, the assessment demonstrates UEC's compliance with updated mining disclosure standards. The Yuty Project is expected to utilize environmentally friendly In-Situ Recovery (ISR) mining methods.
Uranium Energy Corp (UEC) announced the filing of a Technical Report Summary on EDGAR, revealing mineral resources for its Anderson Project in Arizona. The report discloses indicated resources totaling 32,055,000 lbs eU3O8, derived from 1,175 drill holes. The Anderson Project is recognized as Arizona's largest uranium deposit, contributing to U.S. supply assurance for utilities and government buyers. The TRS was prepared under updated S-K 1300 regulations, reflecting a transition from the previously used NI-43 101 standard.
Uranium Energy Corp (NYSE American: UEC) announced updates on its holdings in UEX Corporation. UEC has acquired a total of 18,471,907 UEX common shares, representing about 3.32% of outstanding shares. This includes 6,844,000 shares purchased at an average cost of C$0.3601 and 11,627,907 shares acquired through a private placement on June 22, 2022, at C$0.43 each. UEC plans to continue buying additional UEX shares for investment while pursuing a definitive agreement to acquire all UEX shares in an all-share transaction.
Uranium Energy Corp (NYSE: UEC) announced the completion of a C$5 million private placement to acquire 11,627,907 UEX Common Shares at C$0.43 each. This acquisition is part of a definitive agreement with UEX Corporation aimed at increasing UEC's stake in the company through an all-share transaction. UEC reserves the right to purchase additional UEX shares in accordance with applicable laws. The company continues to focus on low-cost, environmentally friendly ISR mining projects and has several uranium assets across the U.S. and abroad.
Uranium Energy Corp (NYSE: UEC) has filed its quarterly report on Form 10-Q for the nine months ending April 30, 2022, as required by NYSE American regulations. The report includes condensed consolidated financial statements and management's analysis, available on the SEC's website. UEC stands as a prominent player in the uranium mining sector, operating ISR mining projects in South Texas and Wyoming, and holding extensive uranium assets. The company is positioned as a leading, environmentally friendly uranium mining entity in the U.S.
Uranium Energy Corp (NYSE American: UEC) announces its acquisition of UEX Corporation (TSX: UEX), which will double UEC's uranium resources while only diluting shares by 13.7%. With a pro forma portfolio, UEC will lead in uranium assets in North America, focusing on stable jurisdictions. The deal includes an exchange ratio of 0.0831 UEC shares for each UEX share, valuing UEX at approximately C$0.43 per share, a 50% premium. The arrangement aims to enhance production readiness, leveraging UEX's 29 uranium projects, while UEC retains a solid balance sheet with over $180 million in cash.
Uranium Energy Corp (NYSE: UEC) has settled $18.34 million in debt through transactions with Anfield Energy Inc., following its $112 million acquisition of Uranium One Americas. UEC will have over $182 million in cash and liquid assets, and no debt after this settlement. The deal includes a property swap, consolidating 25 uranium properties into UEC's Wyoming portfolio, increasing its landholdings by 50%. CEO Amir Adnani highlighted these strategic moves amidst the Biden Administration's proposal for $3.5 billion in domestic uranium purchases to bolster U.S. energy security.
Uranium Energy Corp (NYSE: UEC) has expanded its physical uranium program to 5 million pounds of U3O8 by securing an additional 400,000 pounds. This acquisition, at a volume-weighted average price of ~$38 per pound, represents an unrealized gain of over $125 million based on current spot prices. UEC's strategy involves leveraging its U.S. warehoused inventories in response to geopolitical uncertainties, with delivery staged through December 2025. This move enhances UEC's balance sheet and supports potential future sales, especially amidst a projected supply deficit exceeding 215 million pounds by 2026.
Uranium Energy Corp (NYSE: UEC) reported that Scott Melbye testified before the Senate Committee on Energy and Natural Resources on March 31, 2022. His testimony highlighted the urgent need for the U.S. to secure its uranium supply, currently reliant on foreign entities from Russia and central Asia. Melbye emphasized that the U.S. nuclear fleet's operation is jeopardized by this dependency, with domestic producers supplying almost none of the fuel. UEC is advancing environmentally friendly in-situ recovery (ISR) uranium projects in South Texas and Wyoming, while holding a significant U.S. uranium portfolio.
Uranium Energy Corp (UEC) has filed a Technical Report Summary (TRS) under S-K 1300, revealing a total of 61,956,200 lbs of Measured and Indicated Resources and 7,105,700 lbs of Inferred Resources from its acquisition of Uranium One Americas and its Reno Creek Project.
The TRS highlights the largest S-K 1300 uranium resource reported in the U.S., with significant potential for resource expansion across over 100,000 acres in Wyoming, known for its ISR uranium mining.