As part of the merger agreement, URI supplied Neutron with $0.9 million in cash for their first quarter budget, ended March 31, 2012, and expects it will fund an additional $2.2 million for the second quarter of 2012. As of April 30, 2012, URI had $7.0 million in cash.
During January 2012, 1,815,073 shares of common stock were sold for approximately $1.5 million under the Company’s existing At-The-Market Sales Agreement (“ATM”) with BTIG, LLC. URI has a total of $12.9 million available for future sales under the ATM.
Teleconference and Webcast
URI will host a conference call and webcast on May 11, 2012 at 11:00 a.m. ET. During the call, management will provide an update on URI’s strategies, outlook, and progress in advancing its Texas and New Mexico properties. A question-and-answer session will follow.The URI conference call can be accessed by dialling (201) 689-8471. The live listen-only audio webcast can be monitored on the Company’s website at www.uraniumresources.com, where it will be archived afterwards. A telephonic replay will be available from 2:00 p.m. ET the day of the teleconference until Friday, May 18, 2012. To listen to the archived call, dial (858) 384-5517 and enter replay pin number 392801. A transcript will also be placed on the Company’s website, once available. About Uranium Resources, Inc. Uranium Resources Inc. explores for, develops and mines uranium. Since its incorporation in 1977, URI has produced over 8 million pounds of uranium by in-situ recovery (ISR) methods in the state of Texas. URI also has 183,000 acres of uranium mineral holdings and 101.4 million pounds of in-place mineralized uranium material in New Mexico and an NRC license to produce up to 1 million pounds of uranium per year. The Company acquired these properties over the past 20 years along with an extensive information database of historic drill hole logs, assay certificates, maps and technical reports. None of URI’s properties is currently in production.