This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Uranium Resources, Inc. Provides First Quarter 2012 Update

Uranium Resources, Inc. (NASDAQ: URRE) (“URI” or the “Company”), today provided an update on the Company’s activities, its liquidity position and its strategy and outlook for 2012.

Don Ewigleben, President and CEO of URI, commented, “We had quite an eventful first quarter as we entered into a merger agreement to acquire Neutron Energy, Inc. (“Neutron”) in a stock-for-stock transaction, announced a financing agreement that infused $10 million into URI and kicked off a number of ongoing development activities that will position the Company for future production.

“Our near-term priorities are focused on the advancement of Churchrock Section 8, including the evaluation of the financing component for our construction activities and continued discussions with the royalty holders on our Section 8 land.”

Texas Exploration Continuing, Reclamation Stabilization in Progress, and Pond Activities Progressing
  • Phase II work on the joint Los Finados exploration project with Cameco started in December 2011 and is scheduled to be completed in November 2012. Under Phase II, 9 holes have been drilled at an average depth of 1,300 feet, as well as 6 shallow offset holes. The plan in Phase II is to drill 10 deep holes as well as 34 shallow offset holes. Of the total $1.5 million that was committed by URI to complete Phase II, $1 million is being funded by Cameco who currently has earned a 40% interest in the project and will have 50% interest after Phase II completion.
  • URI initiated refurbishment of existing equipment on its Kingsville Dome holding ponds to restore full operating activity and extend the operational lifetime. To date, completed work includes the installation of a filter press, installation and testing of process pumps and various structural updates including electrical and steel work, installation of chemical lines and tanks and bringing the dryer up to full operational capacity. The pond efforts are expected to cost approximately $2.9 million and continue through the end of the year. URI believes it may able to generate up to 40,000 to 50,000 pounds of U 3O 8 as a by-product of this activity.
  • URI has processed approximately 4.3 billion gallons of water associated with the restoration activities at its three most recent South Texas projects through the end of the first quarter. The first round of stability water sample testing occurred during the first quarter at Kingsville Dome (KVD) production areas PA1 and PA2. Groundwater restoration has been completed at the Rosita PA1 and PA2 well fields which are currently being monitored for stability. Final closure on these areas is expected by the third quarter of 2012. Restoration activities continue at KVD PA3 and Vasquez PA1 and PA2.

Churchrock Section 8 Feasibility Study Finalized; Neutron Acquisition Announced
  • One of URI’s primary focuses in New Mexico continues to be the advancement of its Churchrock Section 8 deposit toward production in the latter part of 2013. This area contains 6.5 million pounds of in-place non-reserve mineralized uranium material and is covered by the Company’s underground injection control permit and reactivated NRC license which covers 27.4 million pounds of in-place mineralized uranium material for the Company’s Churchrock/Crownpoint Project.

URI commissioned an independent engineering firm to validate the economic viability of the property and create future plans of moving this property into production.

1 of 7

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $93.74 0.00%
FB $117.58 0.00%
GOOG $693.01 0.00%
TSLA $240.76 0.00%
YHOO $36.60 0.00%


Chart of I:DJI
DOW 17,773.64 -57.12 -0.32%
S&P 500 2,065.30 -10.51 -0.51%
NASDAQ 4,775.3580 -29.9330 -0.62%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs