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.
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Uranium Energy Corp (NYSE: UEC) announced significant growth with two strategic acquisitions: UEX Corporation for $192.7 million and Rio Tinto's Roughrider Project for $146.2 million. These moves are expected to double UEC's resources in Canada. The company reported revenues of $57.2 million for the quarter ending October 31, 2022, with a gross profit of $13.8 million. UEC holds $110.5 million in cash and assets, with no debt, positioning itself as a leading North American uranium supplier.
Uranium Energy Corp (NYSE American: UEC) announced that the Texas Commission on Environmental Quality has approved a renewed radioactive material license for its Hobson Central Processing Plant. This approval increases the plant's capacity to process 4 million pounds of U3O8 annually, making it the largest licensed capacity in Texas and the second largest in the U.S. Furthermore, UEC completed baseline sampling and a successful pump test at its Burke Hollow project, bringing it closer to initiating production at this significant ISR wellfield.
Uranium Energy Corp (UEC) has completed its acquisition of the Roughrider uranium project from Rio Tinto for a total of $150 million, comprising $80 million in cash and approximately $70 million in UEC shares. The Roughrider project, located in Saskatchewan's Athabasca Basin, has a historic resource estimate of 58 million lbs of U3O8 at an average grade of 4.73%. UEC now possesses a significant resource base in Canada’s uranium mining sector, enabling the company to enhance future production plans and meet growing demand for nuclear energy amid global decarbonization efforts.
Uranium Energy Corp (UEC) has announced the acquisition of the Roughrider uranium project from Rio Tinto for a total of $150 million, consisting of $80 million in cash and $70 million in UEC stock. This cash is fully funded by UEC's existing $173 million in liquid assets. The Roughrider project has a historic resource of 58 million lbs of U3O8 in a high-grade region of the Athabasca Basin. UEC aims to accelerate production plans while enhancing its Canadian uranium portfolio.
Uranium Energy Corp (NYSE American: UEC) invites investors to its presentation at the TD Securities Virtual Uranium Roundtable on October 12, 2022, at 2:10 PM EST. Interested individuals can register via the provided link for a live webcast. The recording will be available on UEC's website for 90 days post-conference. UEC is a leader in uranium supply for the green energy transition, with significant projects across the U.S. and Canada, including ISR mining initiatives and a notable physical uranium portfolio.
Uranium Energy Corp (UEC) announces a significant discovery of high-grade uranium at its 82.775% owned Christie Lake Project in Saskatchewan, Canada, part of a $171 million acquisition of UEX Corporation. Recent drill results revealed a historic high-grade mineralized intersection of 68.7% eU3O8 over 2.1 meters, contributing to UEC's growing resource base in the strategically located eastern Athabasca Basin. Mineralization at the new Sakura Zone remains open for further exploration, with plans for a winter drilling program commencing in January 2023.
Uranium Energy Corp (NYSE: UEC) reported significant growth in its fiscal 2022, highlighted by the acquisition of Uranium One Americas for $125 million and UEX for $171.3 million, doubling its U.S. production capacity. The company boasts $173.3 million in cash and liquid assets with no debt, and generated $22.95 million in revenue from uranium sales. As of September 29, 2022, it holds 5.5 million pounds of U.S. warehoused uranium. UEC aims to lead in low-cost uranium supply amid rising global demand for nuclear energy, underscored by geopolitical factors.
Uranium Energy Corp (NYSE: UEC) announced a significant filing, detailing the largest S-K 1300 uranium resources in the U.S. This includes 66,198,200 lbs of Measured and Indicated Resources and 15,053,700 lbs of Inferred Resources across several projects, combining resources from Uranium One Americas and Anfield Energy. The company aims to lead U.S. uranium production with fully permitted In-Situ Recovery projects in Wyoming. UEC's strategic acquisitions since 2017 enhance its position amid geopolitical tensions, emphasizing the importance of domestic uranium production.
Uranium Energy Corp (NYSE American: UEC) supports the White House's request for $1.5 billion from Congress to reduce U.S. reliance on Russian nuclear fuel. This funding, announced on September 2, 2022, aims to acquire Low Enriched Uranium (LEU) and High-Assay Low Enriched Uranium (HALEU) for the U.S. nuclear fleet, critical for powering 20% of American homes. UEC emphasizes the urgent need to increase domestic uranium production, as the U.S. currently depends on imports for 60% of its uranium supply.