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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) announces its acquisition of UEX Corporation (TSX: UEX), which will double UEC's uranium resources while only diluting shares by 13.7%. With a pro forma portfolio, UEC will lead in uranium assets in North America, focusing on stable jurisdictions. The deal includes an exchange ratio of 0.0831 UEC shares for each UEX share, valuing UEX at approximately C$0.43 per share, a 50% premium. The arrangement aims to enhance production readiness, leveraging UEX's 29 uranium projects, while UEC retains a solid balance sheet with over $180 million in cash.
Uranium Energy Corp (NYSE: UEC) has settled $18.34 million in debt through transactions with Anfield Energy Inc., following its $112 million acquisition of Uranium One Americas. UEC will have over $182 million in cash and liquid assets, and no debt after this settlement. The deal includes a property swap, consolidating 25 uranium properties into UEC's Wyoming portfolio, increasing its landholdings by 50%. CEO Amir Adnani highlighted these strategic moves amidst the Biden Administration's proposal for $3.5 billion in domestic uranium purchases to bolster U.S. energy security.
Uranium Energy Corp (NYSE: UEC) has expanded its physical uranium program to 5 million pounds of U3O8 by securing an additional 400,000 pounds. This acquisition, at a volume-weighted average price of ~$38 per pound, represents an unrealized gain of over $125 million based on current spot prices. UEC's strategy involves leveraging its U.S. warehoused inventories in response to geopolitical uncertainties, with delivery staged through December 2025. This move enhances UEC's balance sheet and supports potential future sales, especially amidst a projected supply deficit exceeding 215 million pounds by 2026.
Uranium Energy Corp (NYSE: UEC) reported that Scott Melbye testified before the Senate Committee on Energy and Natural Resources on March 31, 2022. His testimony highlighted the urgent need for the U.S. to secure its uranium supply, currently reliant on foreign entities from Russia and central Asia. Melbye emphasized that the U.S. nuclear fleet's operation is jeopardized by this dependency, with domestic producers supplying almost none of the fuel. UEC is advancing environmentally friendly in-situ recovery (ISR) uranium projects in South Texas and Wyoming, while holding a significant U.S. uranium portfolio.
Uranium Energy Corp (UEC) has filed a Technical Report Summary (TRS) under S-K 1300, revealing a total of 61,956,200 lbs of Measured and Indicated Resources and 7,105,700 lbs of Inferred Resources from its acquisition of Uranium One Americas and its Reno Creek Project.
The TRS highlights the largest S-K 1300 uranium resource reported in the U.S., with significant potential for resource expansion across over 100,000 acres in Wyoming, known for its ISR uranium mining.
Uranium Energy Corp (NYSE American: UEC) has filed its quarterly report on Form 10-Q for the six months ended January 31, 2022, with the U.S. Securities and Exchange Commission. This filing includes condensed consolidated financial statements and management's discussion and analysis, available on the SEC and company websites. UEC is a leading uranium mining company operating ISR projects in South Texas and Wyoming, with a diversified portfolio that includes physical uranium holdings and resource-stage projects across several states and Paraguay.
Uranium Energy Corp (NYSE: UEC) shared a positive outlook for 2022 in a letter to shareholders, highlighting a decade-high uranium price and a robust balance sheet with $125 million in cash. The company's recent $112 million acquisition of Uranium One Americas has strengthened its position as a leading U.S. uranium producer, with operational hubs in Wyoming and South Texas. Key plans for 2022 include expanding production capabilities, enhancing technical reports, and a new physical uranium portfolio strategy. UEC also emphasizes the growing importance of nuclear energy in achieving low-carbon goals amidst global supply chain challenges.
Uranium Energy Corp (NYSE: UEC) announced the filing of a Technical Report Summary (TRS) for its Reno Creek Project in Wyoming, marking compliance with Regulation S-K 1300. This regulation updates mineral property disclosure for U.S. mining companies. The TRS reports an in-place resource of 12.92 million pounds of U3O8 measured and 13.07 million pounds indicated, with 1.49 million pounds inferred. The project is fully permitted, and UEC anticipates operational synergies with its Irigaray Processing Plant following its acquisition of Uranium One Americas.
Uranium Energy Corp (NYSE American: UEC) announced it has fully repaid its $10 million secured credit facility, making the company entirely debt-free as of January 31, 2022. As of February 2, 2022, UEC holds approximately $125 million in cash and liquid assets. The company has enhanced its financial flexibility through strategic acquisitions, including Uranium One, and now boasts an annual production capability of 6.5 million pounds of uranium from seven fully permitted projects in Texas and Wyoming. This positions UEC as a leading U.S.-based uranium mining company.
Uranium Energy Corp. (NYSE American: UEC) is inviting investors to join its presentation at the TD Securities Virtual Global Mining Conference on January 27, 2022, at 3:45 PM ET. Interested parties can register for the live webcast here. A recording will be available on the company’s website for 90 days after the event. UEC is recognized as America's largest uranium mining company, advancing environmentally friendly In-Situ Recovery (ISR) mining projects in South Texas and Wyoming, and holds a significant portfolio of uranium assets.
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