URI incurred cash expenditures from its operating and investing activities during 2012 of $23.4 million.
Reverse Stock Split and NASDAQ Compliance
On January 23, 2013 URI conducted a 1-for-10 reverse stock split of its common stock. The primary purpose of the reverse split was to bring URI into compliance with NASDAQ's $1.00 minimum bid price requirement. On February 6, 2013 the Company was notified that its common stock had maintained a closing price of $1.00 or more for at least ten consecutive trading days and that the Company was in full compliance with NASDAQ listing requirements and therefore will continue to be listed and traded on the NASDAQ Capital Market.
URI also regained compliance with NASDAQ rules requiring the Board of Directors to be comprised of a majority of independent directors and the Audit Committee to be comprised of at least three independent members.Teleconference and Webcast URI will host a conference call and webcast today at 11:30 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 dialing (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 2:30 p.m. ET the day of the teleconference until Friday, March 22, 2013. To listen to the archived call, dial (858) 384-5517 and enter replay pin number 408349. A transcript will also be posted 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 has over 206,600 acres of uranium mineral holdings and 152.9 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. URI has an additional 1.3 million pounds of in-place mineralized uranium material in Texas and South Dakota. 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.