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 Closes $5 Million In Funding With Resource Capital Fund V L.P.

Uranium Resources, Inc. (NASDAQ: URRE) (URI), announced today that, on September 5, 2012, it closed the $5 million financing with Resource Capital Fund V L.P. (“RCF”), pursuant to its investment agreement with RCF. URI exercised the $5 million option on August 31, 2012 in conjunction with the closing of its acquisition of Neutron Energy, Inc. RCF purchased 9,691,801 shares of URI common stock at a price of $0.5159 per share. The share price was based on the volume weighted average trading price of URI common stock on the NASDAQ Capital Market for the 20 trading days prior to the closing of the Neutron merger.

“The total investment made by RCF in URI we believe is a confirmation of the value inherent in our uranium assets and production potential in New Mexico as well as the strong outlook on the uranium market in general,” commented Don Ewigleben, President and CEO of URI. “We expect that global demand for nuclear power will continue to expand as emerging economies require measurably greater amounts of electric power and this will more than offset declines in somewhat stagnant developed economies. We believe this demand will drive price as supplies are not able to keep pace and URI will be in a position to capitalize on this environment.”

Mr. Ewigleben continued, “Over the past few years, URI has undertaken many initiatives to position the Company for the long-term. We now have more than 154 million pounds of in-place mineralized uranium material, an underground injection control permit and NRC license to conduct ISR mining at the Churchrock Section 8 area, and we continue to be in meaningful discussions with the Navajo Nation regarding a comprehensive agreement regarding the production of uranium. Once an agreement with the Navajo is reached, we will look to secure the needed capital for the Churchrock project and initiate construction activities. Given interest from various investors and potential strategic partners, we believe we will be able to obtain the required funding for the project.”

1 of 3

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 $93.24 0.00%
FB $117.81 0.00%
GOOG $701.43 0.00%
TSLA $211.53 0.00%
YHOO $36.94 0.00%


Chart of I:DJI
DOW 17,660.71 +9.45 0.05%
S&P 500 2,050.63 -0.49 -0.02%
NASDAQ 4,717.0940 -8.5450 -0.18%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs