NYSE American: UEC
Transformative Year with Wyoming ISR Production Restart, 100% Unhedged Uranium Exposure and Subsequent Accretive Acquisition of Rio Tinto's Sweetwater Plant and Wyoming Uranium Assets
Highlights:
Successful startup of uranium production at the past-producing Christensen Ranch in-situ recovery ("ISR") operations and Irigaray Central Processing Plant ("CPP") in Wyoming's Powder River Basin.
South Texas hub-and-spoke ISR production platform making strong progress with increased resources at Burke Hollow Project and development plans for the construction of a satellite facility to the Hobson CPP.
Advancing the Roughrider Project in Canada's Eastern Athabasca Basin with environmental baseline, technical studies and positive drill results leading to the discovery of Roughrider North, 850 meters northeast of the Roughrider deposit.
UEC's attributable resources now total 230.0 million pounds U3O8 in the Measured and Indicated Categories and 102.7 million pounds U3O8 in the Inferred category across all its projects(1), cementing UEC's status as one of the largest and diversified North American focused uranium companies.
Over 1,466,000 pounds of U3O8 inventories as of July 31, 2024 valued at $125.3 million at market price(2). Taking deliveries of an additional 700,000 pounds of U3O8 at an average cost of $38.20 per pound through December 2025.
Approximately $331.5 million of cash, equity holdings(3) and inventory(2) at market prices, and no debt, as of July 31, 2024.
Landmark agreement with Rio Tinto America Inc. ("Rio Tinto") to acquire 100% of Rio Tinto's Sweetwater Plant and a portfolio of uranium mining projects in Wyoming, creating a third U.S. hub-and-spoke ISR production platform within UEC's pure-play uranium business.
Achieved a Sustainalytics Rating of 23.8, placing UEC as the leading uranium mining company and in the top 5th percentile of the Diversified Metals and Mining Subindustry as rated by Morningstar Sustainalytics (as of September 2, 2024).
CORPUS CHRISTI, Texas, Sept. 27, 2024 /PRNewswire/ - Uranium Energy Corp (NYSE:UEC), (the "Company" or "UEC") is pleased to report that it has filed its Annual Report on Form 10-K for the fiscal year ended July 31, 2024 with the U.S. Securities and Exchange Commission (the "SEC"). The Annual Report filing, which includes the Company's audited consolidated financial statements, related notes thereto and management's discussion and analysis for its fiscal year 2024, is available for viewing on the SEC's website at www.sec.gov and on the Company's website at www.uraniumenergy.com.
Amir Adnani, CEO and President, stated: "Fiscal 2024 proved to be a year of successful transformative growth for UEC with the restart of production at our Christensen Ranch ISR operations in Wyoming. At the same time, we continued to advance our Roughrider and Burke Hollow projects with resource expansions and development programs respectively."
Mr. Adnani continued: "We are also thrilled with the recent acquisition from Rio Tinto of the fully-licensed Sweetwater Plant and a portfolio of uranium properties, ...
