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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) 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.
Uranium Energy Corp (NYSE American: UEC) announced the closing of its acquisition of UEX Corporation (TSX: UEX) under the Canada Business Corporations Act. This acquisition, approved by UEX shareholders and the Supreme Court of British Columbia, involved UEX shareholders receiving 0.090 UEC shares for each UEX share. UEC aims to delist UEX shares and cease UEX's reporting obligations. This merger positions UEC as the largest diversified North American uranium company, enhancing its resource portfolio and production capabilities while maintaining a robust financial position with over $180 million in cash.
On August 15, 2022, Uranium Energy Corp (UEC) announced an amendment to its acquisition agreement with UEX Corporation. The updated terms specify that UEX shareholders will receive 0.090 UEC shares for each UEX share, valuing UEX shares at approximately C$0.497. A termination fee of US$9 million is included if the deal is terminated under specific circumstances. The deal follows a competing acquisition proposal. The transaction is set for a special securityholders meeting today, with expectations for completion by the end of August, pending necessary approvals.
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