This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
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
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Uranium Energy Corp Issues Mid-Year Shareholder Report

Stocks in this article: UEC

NYSE MKT Exchange Symbol - UEC

CORPUS CHRISTI, TX, July 25, 2012 /PRNewswire/ - Uranium Energy Corp (NYSE MKT: UEC; "UEC" or the 'Company') today issued a Mid-Year Shareholder Report. The report from CEO Amir Adnani follows in its complete form:

Dear Shareholder,

I am pleased to provide you with this mid-year report on the status of Uranium Energy Corp and its key projects.

First and foremost, I would like to thank you as a UEC shareholder for your continued support and confidence in the Company and its management. UEC remains focused on expanding uranium production in South Texas, increasing in-ground resources and furthering our substantial pipeline of projects, while increasing cash flow from operations.

The first half of the year demonstrated that the global nuclear industry is reviving rapidly with positive developments in the U.S., China and other countries. The recent restart of two reactors in Japan is a sign that the Japanese remain committed to nuclear power. Increasing world-wide nuclear capacity is anticipated to gradually create lasting and historic increases in the demand for uranium. As one of the few uranium producers in the world, UEC is well-financed and well-positioned for this recovery.

ACHIEVEMENTS AND HIGHLIGHTS FROM THE FIRST HALF OF 2012

Production Results at the Palangana ISR Mine: Two new production areas ("PA") were defined bringing the total number of PAs to five at the Palangana Mine, with PA 1 and 2 being online with uranium recovery.  PA-1 has received a number of recompletions of existing wells, resulting in improved recent recovery rates, and at PA-2 operations were initiated in late March as planned. Cumulative production since the start of production in November 2010 through April 30 this year has been 273,000 pounds of U 3O 8 at an average cash cost of $18 per pound. May and June production numbers were higher than the preceding months, and a low-cost production profile is being maintained.

Palangana ISR Mine Production and Development Advances: A Production Area Authorization application was submitted to the Texas Commission on Environmental Quality ("TCEQ") for Production Area-3 (PA-3) in March. Wellfield development of injection and production wells is coinciding with the progress made on the TCEQ application.  Thus far, drilling of the planned wells is nearly complete with the area targeted for initial production during the second half of this year. Initial core leach studies indicate encouraging recovery yields at PA-3.

The Company is also pleased to be adding Production Areas 4 and 5 to the Palangana Mine production pipeline with permitting and development work initiated this year.  The mine permit amendment application is scheduled for submission for these zones during the calendar year fourth quarter. 

1 of 4

Check Out Our Best Services for Investors

Action Alerts PLUS

Jim Cramer and Stephanie Link 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

Jim Cramer's protégé, David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, 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
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,672.60 -141.38 -0.79%
S&P 500 2,051.82 -11.33 -0.55%
NASDAQ 4,757.8790 +7.4820 0.16%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs