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 Second Quarter 2012 Update

Texas Los Finados Exploration Continuing; Kingsville Dome Pond Activities Progressing Well

  • Phase II work on the joint Los Finados exploration project with Cameco is scheduled to be completed in November 2012. Under Phase II thus far, 32 holes have been drilled at an average depth of 1,170 feet with an additional 15 holes planned. 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 has until November 30, 2012 to make a decision regarding moving on to Phase III.
  • In order to accommodate production in New Mexico and be in a position to return to production in Texas, URI is in the process of refurbishing the Kingsville Dome holding ponds. Total capital and operating costs for the refurbishment project is estimated at $2.9 million. URI expects to generate up to 40,000 to 50,000 pounds of U 3O 8 as a by-product of this activity.
  • Continued restoration activities at the Company’s three most recent South Texas projects included approximately 4.5 billion gallons of water processed to date. Restoration activities continue at KVD PA3 and Vasquez 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.

Liquidity Position

Cash at June 30, 2012 was $2.8 million compared with $2.9 million at December 31, 2011. As part of the merger agreement, URI has supplied Neutron with $3.2 million in cash for their budget to date and an additional $0.2 million for an asset purchase in the first quarter of 2012. As of August 3, 2012, URI had $2.0 million in cash. URI, at its option, can receive $5 million through the sale of additional shares to Resource Capital Fund V L.P. (“RCF”) at the closing of the Neutron merger. The share price will be based off the lower of $0.97 or the volume weighted average trading price of URI common stock on the NASDAQ exchange of the previous 20 trading days prior to the closing of the merger.

3 of 9

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