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Uranium Energy Corp (UEC) is a leading North American-focused uranium mining company headquartered in Corpus Christi, Texas. Established in 2003, UEC is at the forefront of uranium exploration, pre-extraction, and processing, serving the growing global demand for carbon-free nuclear energy. The company operates primarily in the United States, Canada, and Paraguay, with significant projects including the Palangana Mine, Goliad, Burke Hollow, and Longhorn in Texas; Anderson and Workman Creek in Arizona; Slick Rock in Colorado; and the Reno Creek Project in Wyoming. UEC also owns the Diabase Project in Canada and the Yuty and Oviedo projects in Paraguay.
Core Business and Operations
UEC employs environmentally friendly, low-cost In-Situ Recovery (ISR) mining techniques for uranium extraction. This method minimizes environmental impact and reduces costs, positioning UEC as a key player in the transition to a low-carbon future. The company has two production-ready ISR hub-and-spoke platforms located in South Texas and Wyoming, anchored by fully operational central processing plants. Additionally, UEC manages seven ISR uranium projects in the U.S. with all major permits in place, ensuring a robust and reliable production pipeline.
Financial Health and Recent Achievements
UEC's financial health is reinforced by a significant portfolio of physical uranium assets, including one of the largest inventories of U.S. warehoused U3O8. The company also holds a major equity stake in Uranium Royalty Corp., the only royalty company in the sector, enhancing its diversified asset base. Recent achievements include strategic partnerships and agreements aimed at reestablishing domestic uranium supply chains, such as the memorandum of understanding with TerraPower to supply uranium for its Natrium™ reactor and energy storage system.
Strategic Partnerships and Future Projects
UEC's strategic vision includes establishing robust relationships to support emerging uranium demand from Small Modular Reactors (SMRs) and Advanced Reactors (ARs). These collaborations are crucial for the next generation of nuclear energy solutions. The company’s Wyoming platform, hosting over 20 uranium projects, contains the largest S-K 1300 compliant resource base in the United States, with several projects fully permitted for ISR production.
UEC is also expanding its presence in Canada through the Roughrider Project in Northern Saskatchewan, a high-grade conventional project with significant untapped resource potential. This project solidifies UEC's position in one of the world's premier uranium mining regions.
Commitment to Sustainability
Uranium Energy Corp is committed to sustainable mining practices and the global green energy transition. As a signatory of the Net Zero Nuclear Industry Pledge, UEC supports the goal of tripling global nuclear capacity by 2050. The company actively participates in environmental, social, and governance (ESG) initiatives to ensure responsible resource development.
In summary, Uranium Energy Corp stands as a vital player in the uranium mining industry, driving innovation and sustainability in nuclear energy to meet the world's growing clean energy needs.
Uranium Energy Corp (NYSE American: UEC) reports a robust financial position as of March 15, 2021, with $65.8 million in cash and equity. The company is establishing a physical uranium inventory, acquiring $10.9 million worth of uranium concentrates to enhance asset value. The market value of their stake in Uranium Royalty Corp rose to $34.3 million. UEC aims to leverage its inventory for strategic marketing and meet U.S. uranium demand, which has grown amidst domestic production challenges.
Uranium Energy Corp (NYSE American: UEC) announced that its Chairman, Spencer Abraham, will participate in a virtual fireside chat at the BMO Global Metals and Mining Conference on March 3, 2021, at 5:45 PM EST. The event will provide insights into the company's operations in uranium mining and exploration, particularly in South Texas and Wyoming, where it holds several key projects. Investors can register for the live chat through a provided link, with a replay available post-conference for attendees.
Uranium Energy Corp (UEC) announced the restart of wellfield development at its Burke Hollow in-situ recovery project in South Texas. The project is part of UEC's strategy to support the newly formed U.S. Uranium Reserve, backed by a $1.5 billion program aimed at purchasing U.S.-origin uranium. UEC has received all major permits for extraction and will carry out a drilling campaign to expand its resource base, including the installation of 45 additional monitoring wells. The Burke Hollow project is positioned to enhance domestic uranium production while promoting environmentally friendly mining techniques.
Uranium Energy Corp (NYSE American: UEC) announced that the U.S. Federal Government's omnibus spending bill includes $75 million for the initial funding of a 10-year U.S. Uranium Reserve. This funding, included in the Energy & Water appropriations, marks a significant step for the domestic uranium industry with bipartisan support. The passage of the bill through both the House and Senate, along with a pending Presidential signature, is seen as a positive development. UEC's Chairman highlighted the importance of this initiative for American energy security.
Uranium Energy Corp (NYSE American: UEC) has filed its quarterly report on Form 10-Q for the three months ending October 31, 2020. This filing includes condensed consolidated financial statements and management's analysis, accessible via the SEC and company websites. UEC operates uranium mining and exploration projects across Texas, Wyoming, and other regions, with notable facilities like the Hobson Processing Facility. The report highlights UEC's strategic position in the uranium market, but future projections remain subject to risks inherent in the mining sector.
Uranium Energy Corp (NYSE American: UEC) announced the U.S. Senate Committee on Environment and Public Works has approved the bipartisan American Nuclear Infrastructure Act (ANIA). This bill includes a provision for a U.S. National Strategic Uranium Reserve (UR) to bolster the domestic uranium supply chain. Key aspects involve the Secretary of Energy establishing a uranium reserve program while excluding uranium sourced from Russia and China. UEC's operational base in Texas and Wyoming positions it favorably to supply uranium to this reserve, enhancing the U.S. nuclear industry's capacity and national security.
Uranium Energy Corp (NYSE American: UEC) announces that President and CEO Amir Adnani will present at the H.C. Wainwright Mining Conference on November 30, 2020, at 2:30 PM ET. Adnani will also participate in a Mining Panel Discussion at 12:30 PM ET, moderated by Carolin Roth from CNBC International. Other panelists include notable figures like Ross J. Beaty and Marin Katusa. Interested investors can register for UEC's live webcast at www.hcwevents.com/mining.
Uranium Energy Corp (NYSE American: UEC) announced that the Senate Committee on Appropriations has proposed $150 million for the U.S. Uranium Reserve in the fiscal year 2021 draft funding measures. The funding is divided into $120 million for Nuclear Infrastructure and $30 million for Defense Non-proliferation. CEO Amir Adnani expressed optimism about bipartisan support moving the initiative forward, emphasizing the potential for growth in the domestic uranium mining industry, which is vital for the U.S. nuclear sector, supplying 55% of the nation’s carbon-free electricity.
Uranium Energy Corp (NYSE American: UEC) announced the filing of its annual report on Form 10-K for the fiscal year ended July 31, 2020. The report, which includes audited consolidated financial statements and management’s discussion, is accessible on the SEC's website and the Company’s website. UEC operates uranium mining and exploration projects primarily in South Texas, Wyoming, and internationally in locations such as Arizona and Paraguay. The Company aims to advance its operations under the management of industry professionals with extensive experience in uranium exploration and mining.
Uranium Energy Corp (NYSE American: UEC) has completed its offering of 12,500,000 units at $1.20 per unit, raising gross proceeds of $15 million. Each unit comprises one common share and a half warrant, allowing the purchase of additional shares at $1.80. Proceeds will support exploration and development initiatives across various projects. The offering was managed by H.C. Wainwright & Co. and Haywood Securities. The company holds significant uranium projects in South Texas, Wyoming, and other regions, positioning itself within a strong operational framework.
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