Uranium Energy Stock Price, News & Analysis

Uranium Energy Corp (NYSE: UEC) announced the re-election of Scott Melbye as President of the Uranium Producers of America (UPA) on March 29, 2023. This marks Melbye's third term, highlighting his leadership in the uranium industry. CEO Amir Adnani praised the team’s dedication to high performance in the nuclear fuel sector. Melbye emphasized the need for a revitalized U.S. uranium industry due to geopolitical tensions, with nearly 60% of U.S. uranium imports coming from former Soviet countries. The UPA advocates for policies supporting domestic uranium production to enhance energy independence.

Uranium Energy Corp (NYSE American: UEC) has appointed Trecia Canty to its Board of Directors as of March 20, 2023. With over 25 years of experience in finance, corporate governance, and energy, Canty currently serves as Senior Vice President and General Counsel at PBF Energy Inc. Her expertise in strategic transactions and compliance is expected to bolster UEC's growth strategy. CEO Amir Adnani expressed enthusiasm about her contribution. UEC is known for its focus on environmentally friendly uranium mining and is advancing ISR projects in Texas and Wyoming, with a strong portfolio of resources in North America.

Uranium Energy Corp (UEC) has announced the filing of a Technical Report Summary (TRS) for its Workman Creek Project in Arizona as of March 14, 2023. This filing reports over 32 million pounds of measured and indicated resources and approximately 4.5 million pounds of inferred resources. These estimates comply with the newly adopted S-K 1300 guidelines by the SEC, modernizing mineral property disclosures for mining. The TRS utilized drill data from 446 drill holes, leading to a total inferred resource estimate of 4.459 million pounds of eU₃O₈.

Uranium Energy Corp (NYSE American: UEC) has filed its quarterly report on Form 10-Q for the quarter ending January 31, 2023, with the SEC. The report includes interim condensed consolidated financial statements, management's analysis, and relevant notes. UEC is recognized as the largest diversified uranium company in North America, focusing on environmentally friendly in-situ recovery mining projects. The company is positioned for growth with operational platforms in South Texas and Wyoming. UEC also holds a significant physical uranium portfolio and an equity stake in Uranium Royalty Corp.

Uranium Energy Corp (NYSE American: UEC) has reported significant uranium mineralization from drill hole CB-183-1 at the Christie Lake Project, achieving a grade of 7.90% eU₃O₈ over 14.3 meters. This result extends the footprint of high-grade mineralization at the newly identified Sakura Zone, situated near the world-renowned McArthur River mine. The Project spans 19,576 acres and benefits from proximity to existing uranium operations. UEC plans to drill 17,000 meters throughout 2023 to further explore the region. Exploration results are expected to provide updates to the resource estimates later this year.

The demand for uranium is expected to increase in 2023, driven by the nuclear industry's role in the clean energy transition. Despite a downtrend in prices post-Fukushima, a supply shortfall could benefit uranium miners. Kazakhstan, with 1.2 billion lbs of recoverable uranium resources, remains a leading producer, while Canada and Australia also contribute significantly. Active mining companies include Uranium Royalty Corp. (NASDAQ: UROY), which recently completed a $1.5 million royalty acquisition and committed to purchasing 200,000 pounds of uranium concentrate. This strategic move is designed to meet rising demand and strengthen its market position.