This Day On The Street
Continue to site
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

Uranium Resources, Inc. Provides Third Quarter 2012 Update

Texas Activities Progressing

Groundwater restoration has been completed and is currently being monitored for stability at Kingsville Dome Production Area (PA)1 and PA2, in addition to Rosita PA1 and PA2. Final closure of these production areas is targeted for mid- to late-2013. The Company continues restoration activities with stabilization targeted for the third quarter of 2013 at Kingsville Dome PA3 and fourth quarter of 2013 for Vasquez PA1 and PA2.

Phase II of the joint Los Finados exploration project with Cameco started in December 2011. Drilling activities concluded in August and both parties have agreed to delay a decision to proceed with Phase III until December 31, 2012. Under Phase II, 40 holes were drilled at an average depth of 1,327 feet and, while there have been no significant findings, the geologic opportunities in the area are still encouraging. Cameco currently has earned a 50% interest in the project and can earn a 70% interest with the completion of Phase III.

URI is in the process of refurbishing the Kingsville Dome holding ponds and expects this project to complete in mid-2013.

Liquidity Position

Cash at September 30, 2012 was $4.0 million compared with $2.9 million at December 31, 2011 and reflects the $5 million option with Resource Capital Fund V L.P. that closed on September 5, 2012 through the sale of 9,691,801 shares of URI common stock at a price of $0.5159 per share. As of October 31, 2012, URI had $3.0 million in cash.

During the third quarter, the Company sold 5.6 million shares of common stock, raising net proceeds of $2.9 million under the existing At-The-Market Sales Agreement (“ATM”) with BTIG, LLC. In October 2012, the Company sold an additional 2.2 million shares under the ATM program, raising net proceeds of $937,000. At October 31, 2012, URI has a total of $9.0 million in share value available for future sales under the ATM.

3 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
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
SYM TRADE IT LAST %CHG

Markets

DOW 17,504.06 -179.52 -1.02%
S&P 500 2,049.78 -18.98 -0.92%
NASDAQ 4,918.2530 -73.6870 -1.48%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs