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
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Uranium Resources Provides Second Quarter 2013 Update

CENTENNIAL, Colo., Aug. 9, 2013 (GLOBE NEWSWIRE) -- Uranium Resources, Inc. (Nasdaq:URRE) ("URI" or the "Company") today provided an update on the Company's activities and financials through June 30, 2013, as well as its strategy and outlook.

Second Quarter and Recent Highlights

  • Consolidated corporate headquarters in Denver, Colorado, and rationalized office locations which should generate $1.5 million in annualized savings.
  • Strengthened team with the appointment of Jeffrey L. Vigil as Vice President-Finance and Chief Financial Officer.
  • Improved economics from future production in Texas with renegotiated uranium supply contract.
  • URI continues to actively monitor all expenses and is executing initiatives to conserve cash; the Company expects a lower monthly cash burn during the second half of the year.

"We continue to take the necessary actions to conserve cash and strengthen our balance sheet in the near term and to place us on solid ground for the future. During the quarter, we executed our consolidation plan and enhanced the corporate team based in Denver with the appointment of Jeff Vigil as CFO," stated Christopher M. Jones, President and Chief Executive Officer of URI. "The recently announced renegotiated ITOCHU agreement and the progress made at the Kingsville Dome pond project are important steps that will position us to resume production activities in Texas during the latter half of 2014."

Preparing for return to production in Texas; Restoration and rehabilitation activities progressing

Groundwater restoration activities in Texas continue to progress, with well plugging of the Rosita project's production areas 1 and 2 by the end of the year. The Company continues restoration activities with stabilization targeted for the fourth quarter of 2013 for all production areas at the Kingsville Dome and Vasquez projects.

The Kingsville Dome holding pond rehabilitation is expected to be completed by the end of the year, and the refurbishment of the processing facility back to production capability will take approximately six months thereafter.  The Company expects to be in a position for production in Texas during the latter half of 2014.

1 of 5

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

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
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, 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
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,943.81 +28.74 0.17%
S&P 500 1,967.57 +2.89 0.15%
NASDAQ 4,415.49 +19.2860 0.44%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto
Advertising Partners

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs