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 (NYSE American: UEC) reported that its annual general meeting on July 30, 2021, successfully ratified key corporate matters. The Board of Directors elected Amir Adnani, Spencer Abraham, Vincent Della Volpe, David Kong, Ganpat Mani, and Gloria Ballesta. PricewaterhouseCoopers LLP was appointed as the independent accounting firm, and the executive compensation and 2021 Stock Incentive Plan were approved. The Board also re-appointed Adnani as CEO, Pat Obara as CFO, and Scott Melbye as Executive VP.
Uranium Energy Corp. (NYSE American: UEC) has announced a broadcast titled, “Time to Capitalize on the Net Zero Emission Initiative.” With growing interest in uranium, UEC's shares have attracted attention. The company operates in the U.S. with a focus on in-situ recovery (ISR) mining. UEC has a portfolio that includes the Hobson Processing Facility and the Reno Creek project, the largest permitted ISR uranium project in the U.S. Additionally, UEC expanded its asset base by acquiring an equity stake in Uranium Royalty Corp. and a program to purchase physical uranium.
Uranium Energy Corp. (NYSE American: UEC) has been featured in an editorial by NetworkNewsWire, discussing the urgent need for energy transition to achieve net-zero emissions. The International Energy Agency's recent plan emphasizes nuclear energy alongside renewables to stabilize energy access and pricing. As a leader in environmentally friendly in-situ recovery mining of uranium, UEC is strategically positioned to capitalize on this shift, supported by its licensed processing facilities and diverse uranium-related assets across the U.S. and Paraguay.
Uranium Energy Corp (NYSE American: UEC) announced the filing of its quarterly report on Form 10-Q for the nine months ended April 30, 2021. The filing includes condensed consolidated financial statements and management's discussion, available on both the SEC's and UEC's websites. As of April 30, 2021, UEC reported a total of $123.4 million in cash, equity, and physical holdings, which includes $47.9 million in cash and $49.3 million worth of shares in Uranium Royalty Corp.
Uranium Energy Corp (NYSE American: UEC) has increased its uranium holdings, acquiring an additional 200,000 pounds of U.S. warehoused uranium, totaling 2.305 million pounds at an average price of ~$30 per pound. UEC also purchased 1,000,000 shares of Uranium Royalty Corp (TSXV: URC, Nasdaq: UROY) to strengthen its strategic position, now owning 15 million shares at an average cost of C$1.09 per share. Following these acquisitions, UEC's total cash, equity, and inventory holdings exceed $115 million.
Uranium Energy Corp (NYSE American: UEC) highlights the urgency of domestic uranium production amidst national security concerns due to reliance on foreign sources. Scott Melbye, UEC's EVP, emphasizes restoring America’s nuclear infrastructure, which has declined due to geopolitical pressures. UEC stands ready to supply uranium, leveraging its production-ready status and extensive projects in Texas and Wyoming, including the largest pre-construction ISR uranium project in the U.S. UEC's operations emphasize environmentally friendly mining and include a robust portfolio of uranium-related assets.
Uranium Energy Corp. (NYSE American: UEC) has been featured in an editorial by NetworkNewsWire, highlighting the growing importance of nuclear energy as a clean and carbon-free electricity source in the U.S. The company is focused on low-cost, environmentally friendly in-situ recovery (ISR) uranium projects. UEC controls significant uranium exploration data and operates major projects in South Texas and Wyoming, aiming to bolster domestic uranium production. It also holds diverse uranium-related assets, including equity in Uranium Royalty Corp and physical uranium in the U.S.
Uranium Energy Corp (NYSE American: UEC) has reported promising results from its Burke Hollow ISR uranium project in South Texas. The company completed 40 resource delineation drill holes as of April 9, 2021, with several intercepts showing high grade thickness (GT) values ranging from 2.45 to 4.48, significantly above the ISR cut-off of 0.3 GT. The project is strategically supported by a fully licensed processing plant and encompasses five ISR projects, bolstering UEC's South Texas hub-and-spoke strategy.
Uranium Energy Corp (NYSE American: UEC) announced its participation in the upcoming H.C. Wainwright Spring Mining Conference to be held virtually on April 19-20, 2021. The company's President and CEO, Amir Adnani, will present an overview of UEC's business on April 19 at 10:00 AM ET and will engage in one-on-one meetings with institutional investors. UEC is recognized for its environmentally friendly In-Situ Recovery mining projects across the U.S., including operations in South Texas and Wyoming, which underpin its growth strategy.
Uranium Energy Corp (NYSE: UEC) has successfully closed a registered direct offering, selling 3,636,364 shares at $3.30 each, yielding gross proceeds of $12 million. The offering, finalized on April 9, 2021, was conducted under a Securities Purchase Agreement with institutional investors. Net proceeds will be allocated to uranium purchases and general corporate purposes. UEC now holds over $110 million in cash, equity, and inventory, with a significant physical uranium initiative including 2.105 million pounds of U.S.-warehoused uranium.