Strengthened Liquidity Position
Cash at March 31, 2013 was $4.4 million compared with $4.7 million at the end of 2012, and reflects the $3.6 million in net proceeds from the rights offering. The cash balance improved to $7.9 million as of April 30, 2013 as the Company freed up $5.4 million in working capital as a result of replacing $9.0 million of fully collateralized financial surety instruments with new surety bonds requiring collateral of only 40% of the face amount of the bonds.
URI did not utilize its existing At-The-Market Sales Agreement ("ATM") during the first quarter of 2013. At the end of the quarter, the Company had a total of $9.0 million in share value available for future sales under the ATM.
URI used cash in its operating and investing activities of $3.9 million during the first quarter of 2013.
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 calling (201) 689-8471. The live listen-only audio webcast can be monitored on the Company's website at
, 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, May 17, 2013. To listen to the archived call, dial (858) 384-5517 and enter replay pin number 412372. 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 uranium by in-situ recovery (ISR) methods in the state of Texas and currently has a number of initiatives underway to return the Company to production. URI has over 206,600 acres of uranium mineral holdings and 144.8 million pounds of in-place mineralized uranium material in New Mexico and an NRC license to produce up to 3 million pounds of uranium per year. URI has an additional 664,000 pounds of in-place reserves in Texas. 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.