Archive for the ‘Uranium Energy Corp. UEC’ Category

Uranium Energy Corp. (UEC) Closes on South American Acquisition

Tuesday, May 24th, 2011

Uranium Energy Corp. reported the acquisition of a South American company that holds prospecting permits to a mining property in Paraguay.

Uranium Energy issued 225,000 shares of common stock to the seller and is obligated to pay a royalty of 1.5% on the future gross sales of any uranium that is discovered on the property.

Uranium Energy said that the permits cover 247,000 acres located in Coronel Oviedo, Paraguay, and were previously explored by Anschutz Corporation and Crescent Resources Corp. from 1983 through 2006.

Uranium Energy has access to the drilling samples done by these two companies and reported that 31 out of 52 drill holes showed uranium values. These uranium traces were discovered at depths of 450 feet and 750 feet.

Uranium Energy believes that the properties acquired are prospective for uranium deposits similar to those found in the United States and other areas, and that these deposits can be commercially produced using in situ recovery methods.

Uranium Energy plans to start drilling at the Coronel Oviedo Property in the third quarter of 2011, and will limit the drilling to 10,000 meters in the initial program.

For more information on the company, go to www.uraniumenergy.com

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Uranium Energy Corp. (UEC) Announces Addition to S&P/TSX Global Mining Index

Thursday, December 16th, 2010

Earlier today, Uranium Energy Corp. announced that the company is being added to the S&P/TSX Global Mining Index effective at the market open on December 20, 2010. Designed to provide an investable representative index of the world’s leading publicly-traded mining companies, the S&P/TSX Global Mining Index provides investors with both diverse geographic exposure to mining companies and broad-based exposure to metals and minerals.

Amir Adnani, President and CEO of Uranium Energy, commented, “Addition to the S&P/TSX Global Mining Index is a very important achievement for Uranium Energy, one that follows our addition to the Russell 2000/3000 Indexes during the past two years. It reflects the progress we have made this year including advancing our growth plans as the newest uranium producer in the U.S. We will continue to work to build the value of the Company as well as its following within the investment community.”

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Uranium Energy Corp. (UEC) Receives Mine Permit and Production Area Authorization for the Goliad ISR Project in South Texas

Tuesday, December 14th, 2010

Uranium Energy Corp. announced today that the Commissioners of the Texas Commission on Environmental Quality (TCEQ) have approved the Mine Permit and the Production Area Authorization for Production Area One (PA-1). They have also granted the request for designation of an Exempt Aquifer for the Company’s Goliad in-situ recovery (ISR) project in South Texas.

Both received today, the approvals bring a conclusion to an administrative hearing, which is part of the State’s permitting process. The Goliad project only has one Texas authorization pending, a Radioactive Material License (RML). According to the press release, the RML application is at an advanced technical review stage with TCEQ. The Company is planning to file updated information to TCEQ in mid-January. Once the updated info is received, TCEQ will move toward concluding its technical review of the RML.

Harry Anthony, Chief Operating Officer, praised the ruling, stating, “We are grateful to TCEQ for its review and informed position regarding the Goliad project. We are, of course, aggressively developing the final data for the RML. Upon approval of the RML, the Goliad project could then join the Palangana project as the Company’s second producing asset in South Texas.”

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Uranium Energy Corp. (UEC) Has The Environmental Advantage

Wednesday, December 8th, 2010

The vision that most people get when they think of mining operations is not a pretty one. It’s difficult to put an attractive spin on massive open-pit mines or piles of tailings the size of small mountains. The natural environment is almost always seen as a primary victim. That’s why it comes as a surprise to many when they hear about a process called “in-situ recovery”, or ISR. It’s the process used by Uranium Energy Corp. to extract uranium with minimal effect on the environment.

Instead of tearing up the earth to get at the uranium underneath, ISR involves a number of small injection wells that pump oxygenated water into the ground. The water dissolves the uranium from the sandstone host and the solution is pumped back up to the surface where it goes through a variety of on-site and off-site processes to remove the uranium.

ISR is not only environmentally friendly, it is considerably less expensive than traditional uranium mining processes, and it is now spreading throughout the uranium mining industry. The technical personnel at Uranium Energy Corp. are considered to be some of the most knowledgeable in the ISR field.

ISR is one of several key strengths of UEC. The company also boasts one of the most comprehensive databases of uranium exploration and mining activity in the country, covering decades of work from some of the biggest names in the industry. It has allowed UEC to target and acquire the best prospective sites. The company’s current project portfolio totals roughly 34 million pounds of U308. In addition, the company has its own fully licensed and permitted uranium processing plant, centrally located for easy access by the company’s Texas projects. One of only a handful of such plants in the entire country, the plant is able to process up to 2.5 million pounds of U308 annually. Perhaps most importantly, UEC is well financed, able to take advantage of its many technical and operational strengths.

For more information, see the company website at www.UraniumEnergy.com, and see http://www.UraniumEnergy.com/uranium/in_situ_leach for a video animation of the ISR process used by UEC.

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Uranium Energy Corp. (UEC) Processes First Shipment of Uranium from Patlangana ISR Project

Wednesday, December 1st, 2010

Uranium Energy Corp. was pleased to announce today that it has started the processing of the first shipment of uranium-loaded resins at its Hobson processing plant. Received earlier this week, the shipment consisted of 500 cubic feet of uranium-loaded resins contained within one of the company’s two U.S. Department of Transportation-approved tanker trailers specially built for this purpose.

Harry Anthony, Chief Operating Officer, stated, “Hobson is a state-of-the-art processing facility now operating under the supervision of experienced staff headed by VP Production Bob Underdown and Hobson Superintendent Greg Kroll. We are confident of standard and secure operations here. We will continue to ramp up production at the Palangana ISR project and the Hobson processing facility over the ensuing weeks and months.”

Converting uranium loaded resin beads to marketable yellowcake (U3O8) at Hobson includes stripping the uranium from the resin beads using a salt solution, precipitating the yellowcake slurry from the salt solution, filtering it from the remaining solution, then vacuum drying and packaging the yellowcake into drums for delivery. An animated video of the process can be found on Uranium Energy’s homepage: www.uraniumenergy.com

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Uranium Energy Corp. (UEC) Knows Where To Look

Tuesday, November 23rd, 2010

When it comes to mineral exploration, including uranium, the difference between success and failure is knowing where to drill. Typically, uranium exploration companies must rely on the analysis of surface geology to generate what amounts to educated guesses on where uranium might be found. This is then followed up by expensive tests and drilling to see if their hunches were right. All too often, the guess is wrong, resulting in deposits not economical enough to mine. It’s a costly game, but the alternative is to pay high prices for properties that have already been proven. The ideal solution is to have privileged access to drilling and testing data that can point you to the most promising areas; information which others don’t have.

Uranium Energy Corp. is in exactly that enviable position, with access to decades of historical uranium exploration data covering large parts of Texas, Wyoming, New Mexico, Arizona, and 13 other U.S. states. These databases come from the past records of senior energy companies, such as Kerr-McGee, and represent millions of dollars worth of past exploration. Although some original companies may no longer be operating, this vast amount of exploration information is now exceedingly important as the value of uranium increases with the worldwide move toward nuclear power. UEC’s technical personnel, many of whom have spent their entire careers as uranium geologists and engineers, have been able to carefully analyze this information, leading to the successful identification and acquisition of some of the most promising sites in the country.

Below is a summary of the valuable databases that UEC currently owns rights to:

• Kerr- McGee Database – 40 years of data, covering the U.S., Canada, Australia
• Continental Oil Database – 10 years of data, covering Texas
• Mobil Oil Database – 20 years of data, covering Texas
• Moore Energy Database – 20 years of data, covering Texas
• Knupke Database – 10 years of data, covering Texas
• Nueces Mineral Co. Database – 10 years of data, covering Texas
• Robert Odell Database – 50 years of data, covering Wyoming
• NAMMCO Database – 15 years of data, covering Wyoming
• Jebsen Database – 20 years of data, covering Wyoming
• Jebsen II Database – 20 years of data, covering 3 states
• Oklahoma Public Services Database – 10 years of data, covering Arizona
• Brenniman Database – 9 years of data, covering 15 states
• Halterman Database – various historical data, covering 5 states

For more information, visit the company website at www.UraniumEnergy.com

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Uranium Energy Corp (UEC) Management to Ring NYSE Closing Bell Commemorating Transition to Uranium Producer

Thursday, November 18th, 2010

Uranium Energy Corp. today announced that its president and CEO Amir Adnani will be joined by other members of the company’s management team to ring The Closing Bell® at the New York Stock Exchange tomorrow to commemorate the beginning of uranium production in South Texas.

Commenting on this exciting time, Mr. Adnani stated, “As announced by the Company yesterday, we have commenced uranium production using in-situ recovery (ISR) methods at the Palangana Project in South Texas. Palangana is the first ISR uranium mine to get into production in the U.S. in more than 5 years, and we are very proud of this achievement.”

He continued, “The U.S. is graced with very significant uranium resources in the ground, yet currently imports the overwhelming majority of its uranium requirements for fueling its nuclear power plants. So, we are excited to be the first to initiate the process of revitalizing uranium mining here. This is really just the start of the Company’s major plans for expanding resources and production of uranium in the U.S.”

A live webcast of The Closing Bell, beginning at 3:59 p.m., will be available on the homepage of www.nyx.com

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Uranium Energy Corp. (UEC) Announces Initiation of Production at Palangana ISR Project

Wednesday, November 17th, 2010

Uranium Energy Corp. was pleased to announce this morning that it has started uranium production using in-situ recovery (ISR) methods at the Palangana Project in South Texas.

The company reported successful completion of phase I of three separate development phases of the wellfield at Production Area 1 (PAA-1), with more than 45 injection wells and production wells drilled, cased and tested. Uranium Energy said it was very pleased with the water volume that each well yielded during the testing phase. Now the company is adding gaseous oxygen and carbon dioxide to the circulating ground water to activate the mining process of dissolving the uranium from surrounding sandstones.

Amir Adnani, President and CEO, exclaimed, “We are exceedingly proud that Palangana is the first new ISR uranium mine to achieve production in the U.S. in over 5 years. Kudos are due to our many professionals who have been working very hard to reach this important milestone. Palangana is one of the Company’s four projects in South Texas. This initial production is really just the first step in the Company’s regional strategy of greatly expanding resources and production in the re-emerging South Texas Uranium Belt, with the next project, the nearby Goliad ISR project, anticipated to join Palangana as a producing asset next year.”

Harry Anthony, Chief Operating Officer, commented, “The next milestone will be the start of regular deliveries of uranium-loaded resin beads to our Hobson processing plant, scheduled to commence before month-end. Shortly thereafter, we will be marketing and delivering yellowcake, the Company’s valuable final product. Hobson is a newly refurbished, state-of-the-art processing plant, and anchors the Company’s South Texas regional strategy with up to 3.0 million pounds of annual capacity.”

Phases II and III of the PAA-1 wellfield each will also contain 45 production and injection wells. According to today’s press release, all Phase II wells have already been completed and are targeted to commence mining in the first quarter of next year. Installation of Phase III wells is underway with three rigs actively casing and then completing each well. Uranium Energy anticipates these wells to come on-line and start production during the second quarter of 2011.

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Uranium Energy Corp. (UEC) Announces Initiation of Major Drilling Program at Salvo Project

Wednesday, November 10th, 2010

Uranium Energy Corp. was pleased to announce this morning that the company has commenced a drilling program at its 100%-controlled Salvo Project in Bee County, Texas. The purpose of this initiative is to verify the historic resource as well as expand on the resource by drilling new areas of mineralization. The exploration drill plan has been split into two phases, each utilizing two rigs.

The first phase will consist of approximately 50 holes, plus 5 core holes, which the company expects, with favorable results, will culminate in an updated NI 43-101 resource estimate being available during the first quarter of 2011. According to the press release, drilling started two days ago.

The second phase will build upon the first phase’s results, and include an additional 140 holes, with an estimated completion date during the second quarter of next year. Once drilling is completed, the company expects, again with favorable results, that an updated NI 43-101 resource estimate will be available by mid-2011.

Consisted of 1,513 acres of continuous leases located about ten miles southwest of Beeville, Texas, the Salvo lease is approximately 50 miles from Uranium Energy’s Hobson processing facility. Any mineral resource identified at Salvo is anticipated to be extracted using in-situ recovery (ISR) methods and processed at the Hobson plant.

Clyde Yancey, VP of Exploration, commented, “We are excited to get on the ground at Salvo and to verify and expand on the prospective resource here. First, historic disequilibrium factors (DEF), which were not applied to the historic resource, indicate a potential expansion by one-half or more. We will verify historic average DEF calculations and increase our understanding here. We also plan to drill prospective new zones aggressively.”

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Joe’s Jeans Inc. (JOEZ) Video Chart for Monday, November 8, 2010

Monday, November 8th, 2010

JOEZ slipped through a solid support level a few weeks ago, but appears that it would like to come back up and challenge that previous support level from underneath.

Please click the following link: http://www.qualitystocks.net/videocharts.php

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Uranium Energy Corp. (UEC) Jumps As Uranium Prices Come Back

Thursday, November 4th, 2010

The price of uranium, like that of all commodities, is based on a volatile mix of many variables feeding supply and demand. Like rogue waves on a choppy sea, spikes and troughs can easily mislead, disguising powerful general trends. When the spot price of uranium peaked in 2007, only to fall back over the following few years, there was no shortage of pundits attempting to target the bottom, which now appears to have been hit and solidly defined. The spot price of uranium has now increased 25% since earlier this year, and exploration/development companies like Uranium Energy Corp. have shot up. Shares of UEC have jumped from around $2 in mid July to well over $4 today.

However, it’s only fair to say that there really aren’t very many companies like UEC, the American company currently in line to become the next major in-situ producer of uranium. Unlike commonplace uranium exploration companies, UEC has access to the massive Kerr-McGee database of uranium exploration, compiled over a period of 37 years, giving the company unparalleled ability to identify promising U.S. sites, which it has done. In addition, unlike other companies, UEC already has its own fully-licensed uranium processing plant, located near its most promising sites in Texas. UEC is also totally debt free, with $26 million in working capital.

So, as outside events push uranium prices back up, it’s not surprising to see UEC at the very top of the wave. Although production in Kazakhstan has grown, various major uranium mines in other parts of the world have not been able to produce as expected, and supplies from former Soviet weapons stockpiles have also shrunk. In the meantime, the ongoing demand for nuclear fuel continues to swell, a powerful underlying demand that is expected to grow for years due to the move back to nuclear power. The number of new nuclear power plants will jump dramatically in the coming years, with new projects being started all over the world.

The result is a clear gap between uranium supply and demand, a gap that UEC is in a uniquely strong position to fill.

For more information, see the company website at www.UraniumEnergy.com.

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Uranium Energy Corp. (UEC) Announces Completion of $27.5 Million Financing

Wednesday, October 27th, 2010

Uranium Energy Corp. announced today that, effective yesterday, it has completed its previously announced private placement financing involving the sale of an aggregate of 8,111,313 units of the company, at a price of $3.40 per Unit, for gross proceeds of $27,578,464.20.

Each Unit consists of one common share of common stock and one-half of one transferable common stock purchase warrant of the company, with each such whole warrant being exercisable for one additional common share of the companyat an exercise price of $3.95 per warrant share for a period of one year from closing.

Amir Adnani, president and CEO commented, “We are pleased to complete this financing. We have a number of expansion and production opportunities to address. But first, the Company’s focus is on achieving initial production at the Palangana ISR project in the coming weeks.”

Rodman & Renshaw LLC, Haywood Securities Inc., together with a number of other registered dealers, acted as non-exclusive placement agents for the financing.

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Uranium Energy Corp (UEC) Ready To Fill The Uranium Demand/Supply Gap

Tuesday, October 26th, 2010

Uranium Energy Corp., rapidly gearing up to become one of America’s relatively few combination uranium developers and processors, is facing a seemingly insatiable market for the gray metal. Although uranium prices have been volatile, as new power plant announcements duel with investor predictions, Morgan Stanley now expects prices to increase a full 19% next year alone. And the long term demand for nuclear fuel is expected to continue upward, as the number of nuclear power plants steadily increases around the world, the result of the ongoing move away from fossil fuels.

Over the next ten years, the number of nuclear power plants is expected to jump, especially in Asia where both China and India are kicking off major nuclear power initiatives. Worldwide, Morgan Stanley predicts well over 100 new plants to come online, generating a huge increase in demand for uranium.

More than perhaps any other American company, UEC is in line to benefit from this assured and continuous surge in uranium demand. For one, the company has access to one of the biggest uranium exploration and production databases anywhere, providing a massive volume of in-depth information originally compiled over a 37 year period by Kerr-McGee, allowing UEC to identify and acquire the best sites for development. Secondly, unlike other uranium exploration and development companies, UEC actually has its own fully-licensed uranium processing plant, one of only a few in the entire country, and centrally located near some of its key sites in Texas. Add to this the fact that UEC is totally debt free, with working capital of over $26 million, and it’s easy to see why Uranium Energy is ideally positioned to begin filling the demand-supply gap plaguing the nuclear power industry.

For more information, see the company website at www.UraniumEnergy.com

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Uranium Energy Corp. (UEC) to Raise $27.5 Million via Private Placement

Friday, October 22nd, 2010

Uranium Energy Corp. announced this morning that it has entered into definitive agreements to sell units of the company through a private placement, with each unit consisting of one common share of the company’s common stock and one-half of one common stock share purchase warrant, for aggregate gross proceeds of up to approximately $27,528,467.20. The closing of this offering is subject to customary closing conditions.

As detailed in the agreements, Uranium Energy is expected to sell up to an aggregate of 8,096,608 Units, at a price of $3.40 per Unit, so that the purchasers will receive an aggregate of up to 8,096,608 shares of common stock. Purchasers will also receive warrants to purchase up to an additional 4,048,304 shares of common stock of the company, which are only exercisable for a period of one year from the date of closing. The warrants have an exercise price of $3.95.

Commenting on the offering, Amir Adnani, President and CEO stated, “With the Company’s initial production scheduled to start in Texas this quarter, we are bolstering our treasury to maximize our financial flexibility and improve our balance sheet. The bulk of these proceeds will be directed toward anticipated start-up at the Goliad ISR project.”

He continued, “In addition, the South Texas Uranium Belt holds significant known resources that are amenable to low-cost in-situ recovery, and the Company plans to use a portion of proceeds to continue to build a strong and diversified pipeline of advanced, development and exploration-stage properties for expanding production there for many years.”

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Uranium Energy Corp. (UEC) Benefits from Major Competitive Advantage

Monday, October 18th, 2010

Back in 2008, Uranium Energy Corp. acquired a massive uranium exploration and development database from Tronox Worldwide LLC, an operation that had its origins with uranium giant Kerr-McGee (which was acquired by Anadarko Petroleum in 2006). The database documented all of the exploration and development results of Kerr-McGee covering a period of 37 years, and includes data from all but two states in the U.S., plus Canada and Australia.

The equivalent in the art world would be the discovery of a lost painting by Van Gogh. The database consists of 300 containers of maps, geologic reports, prospects, assays, logs of drill holes, resource evaluations, feasibility studies, and details of advanced-stage development projects. It also contains extensive results from Kerr-McGee proprietary Airborne Radiometric Detection Apparatus (ARDA) surveys across the U.S. In total, it represents one of the biggest finds of its kind in the country.

The database provides UEC with a huge competitive advantage for identifying and evaluating uranium potential, and the company has made good use of it. It’s of special value considering the dramatic move of countries around the world, including the United States, back to nuclear power. The U.S. has 104 nuclear reactors, nearly a quarter of all the reactors in the world, and consumes more uranium than anybody. And yet, as of 2009, the country had only four processing plants producing uranium concentrate. With applications to build 26 new reactors, the uranium supplies have not kept up with the growing demand.

UEC has already targeted and developed key sites, and has also acquired the means to process the uranium once out of the ground. One of only a handful of such plants in the entire country, the company’s Texas facility is able to process up to 2.5 million pounds of U308 annually, and is located within easy reach of the company’s Texas projects.

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Uranium Energy Corp. (UEC) Leaves The Pack

Tuesday, October 12th, 2010

Uranium Energy Corp., poised to be America’s next in-situ recovery uranium producer, has risen from relative obscurity to become one of the most visible company’s in the uranium exploration and production industry. Although the growing worldwide move away from fossil fuels and into nuclear power has generated a string of aspiring uranium exploration companies, UEC has clearly left the pack behind.

The reason that UEC increasingly stands alone is that it has established dominant capabilities in three of the most important aspects of its industry: exploration, production, and financing. Most exploration companies have limited exploration resources, and compete with other companies for often marginal prospects. Any uranium ore must be handed off for production. And their overall weak positions mean a constant struggle for funding just to keep themselves afloat. In contrast, UEC has established an unparalleled foundation in each of these areas.

The facts speak for themselves:

• UEC is able to tap one of the largest uranium exploration and production databases available anywhere, allowing it to identify and focus its exploration on the most promising sites in the country. As a result, they have already acquired significant properties in Texas, New Mexico, Arizona, Colorado, and other areas of the Western U.S. (The company’s current project portfolio is estimated to hold roughly 34 million pounds of U308.)

• UEC has its own fully licensed and permitted uranium processing plant, one of only a handful of such plants in the entire country, able to process up to 2.5 million pounds of U308 annually. The facility is perfectly located for easy access by the company’s Texas projects.

• UEC, due largely to the recent sale of its interests in Nevada corporation Cibola Resources, is completely debt free, and, as of August 2010, has a cash position of over $19 million.

Today, UEC stands ready to fire up a financial engine that exploration contenders can only dream about and investors seldom get an opportunity to consider. Initial production is expected to begin later this year.

For more information, see the company website at www.UraniumEnergy.com.

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Uranium Energy Corp. (UEC) Continues to Progress Toward November Production

Wednesday, October 6th, 2010

Uranium Energy Corp., the company many consider to be in the best position to become the country’s next major producer of uranium, says that it is well on its way toward initial uranium production as early as November. The company has already finished the first phase of wellfield development at the Palangana ISR uranium project in South Texas, and has completed 40 injection and production wells. These wells are to be brought on-stream in three phases, as part of the buildup to initial sustainable levels of production. Construction of Palangana’s ion-exchange satellite facility is also well underway.

One of the several strengths of UEC is their experience with ISR (in situ recovery), an efficient and environmentally sound technology for mining uranium. With this technology, uranium is leached from the in-place ore through an array of regularly spaced wells and is then recovered from the leach solution at a surface plant.

Another key strength of the company is the fact that it already has its own uranium processing plant, the fully licensed and permitted Hobson processing facility in South Texas, central to all of UEC’s projects in the area. Earlier the company indicated a goal of reaching an output rate of close to 3 million pounds annually by 2015.

Long term, the company is looking at a number of other sites throughout the mountain states, and is using one of the biggest databases of historic uranium exploration and production to identify sites with the greatest potential.

Given the complete turnaround in the uranium market over the last several years, due to the increasing pressures to move away from fossil fuels, along with the significant uranium deposits in the U.S., it’s astounding that more than 95% of the uranium used in the U.S. still comes from outside the country. This presents a major opportunity for UEC, which is so far along the development path compared to other companies.

For more information, see the company website at www.UraniumEnergy.com.

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Uranium Energy Corp. (UEC) Makes Significant Move Forward with Permitting for Goliad ISR Project in South Texas

Thursday, September 30th, 2010

Uranium Energy Corp announced today that its Goliad In-Situ Recovery (ISR) Project in South Texas has made a major advance toward becoming permitted for production. The administrative law judge who presided over a public hearing regarding the Company’s Goliad ISR Project in May of this year issued an initial Proposal for Decision (PFD) yesterday.

The administrative judge recommended findings in favor of the Company on the vast majority of the issues from the hearing. In addition, he recommended that the Texas Commission on Environmental Quality (TCEQ) allow the submission of additional data to address limited remaining issues.

Mid-2009, the TCEQ’s Executive Director issued draft permits that would authorize the Company to install the initial wellfield and commence production at Goliad. During the hearing, the Executive Director re-affirmed its position that the permits should be issued. The hearing addressed questions and comments from the public regarding the Company’s mining plans and permits at Goliad. The administrative judge has now submitted an initial proposed decision to the TCEQ Commissioners, who have the authority and latitude to agree or disagree with his recommendations.

Harry Anthony, Chief Operating Officer, commented, “We look forward to submitting any additional data that is needed and to completing this phase of the permitting process. The Company is confident that the permits will be approved at the end of this process.”

The additional limited information for the administrative judge involves a 24-hour pump test at the Goliad project. The Company said its pleased to have this test performed and to provide the data. According to today’s press release, the viability of operations at Production Area One or any future Production Areas is not affected by the results of the test.

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Uranium Energy Corp. (UEC) Loosens the Noose

Tuesday, September 28th, 2010

When a consumer buys a manufactured item, the ubiquitous “Made In China” label says their money is going overseas. When they fill up their car at the gas pump, it’s the same thing but far bigger than just China and Saudi Arabia. The flow of cash from the U.S. to other parts of the world has become a flood. The U.S. trade deficit with China alone is now roughly a quarter of a trillion dollars. In this age of globalization, the U.S. has become hugely dependent upon the goodwill of other nations. With outside interests controlling both cash and vital resources, the world sees a noose rapidly tightening around America’s neck.

Ironically, it’s a noose that could get even tighter as the country moves away from fossil fuels and into nuclear power. In fact, more than 95% of the uranium used in the U.S. comes from outside the country, from places like Russia and Kazakhstan. This is a far greater imbalance than exists with oil. Given that energy represents one of the most critical foundational resources of the country, indeed any modern industrialized nation, the domestication of uranium production stands to become a vital component of future energy policy. Nevertheless, there are currently only a handful of uranium mines in the entire country actively producing uranium.

The only bright spot in this picture is a company called Uranium Energy Corp. (NYSE-AMEX: UEC). With operations in Texas and the Mountain States region of the U.S., Uranium Energy is increasingly viewed as the single best bet to become the next major producer of uranium. The company has deftly utilized one of the biggest databases of historic uranium exploration and development to identify and develop sites with the richest potential. In addition, unlike other aspiring developers, UEC is well funded and already has a full blown and licensed production facility centrally located near its rapidly developing Texas sites. In fact, things are moving forward so quickly, that initial production is expected within a few months. The goal is to reach an output rate of close to 3 million pounds annually by 2015.

With production costs well below anticipated prices, the path for UEC seems open, especially given the almost certain increase in future demand made clear by the $54 billion package of loan guarantees for nuclear power plant construction offered up by the Obama administration. It’s a path to cleaner air, but, with UEC, it’s also a vote for energy independence, a small step toward loosening the noose.

For more information, see the company website at www.UraniumEnergy.com.

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Uranium Energy Corp. (UEC) Moves Toward Initial Uranium Production

Wednesday, September 15th, 2010

When U.S. based exploration and development company Uranium Energy Corp issued their earlier mid-year shareholder report, the company clearly outlined the progress recently made and where they hope to be by the coming year.

In early June, UEC initiated wellfield development and construction at Palangana production area #1 in South Texas, with 110 injection and production wells to be drilled, cased, and completed. Concurrently, they also started drilling the disposal well for this first wellfield, which is now complete. The equipment, tanks, and pipes for the facility are already being installed. The site will feed the UEC’s recently acquired Hobson processing plant, which is nearby, fully licensed, and ready to process uranium. The Hobson central processing plant is ready to process the first truckloads of resins into uranium oxide, with the first deliveries expected as early as November.

UEC also announced its first NI 43-101-qualified resource at Palangana. The independent Technical Report provides for a resource of 2.2 million pounds U3O8 in all categories. Based on very successful drilling throughout the year on several zones at Palangana, UEC is confident of expanding this defined resource before the end of this year.

In addition to the major progress at Palangana and Hobson, UEC has received the crucial disposal well permits for the Goliad ISR project in Goliad County, Texas. The final production permits for Goliad are anticipated later this year. There is believed to be 6.9 million pounds of in-situ uranium in all categories of resource at Goliad. This is in addition to 1.3 million pounds at the company’s Nichols project and a 1.5 million pound historical resource at the company’s Salvo project, both in Texas. All of these ISR uranium projects are in close proximity to the company’s Hobson processing plant, part of UEC’s regional operating strategy in Texas.

UEC is well funded for all of this, with zero debt, and approximately $22 million in cash. With Palangana now scheduled to commence in-situ recovery later this year, UEC will become one of only eight uranium producers in the world, and the only company in North America, in a position to start major near-term production of uranium.

For more information, see the company website at www.UraniumEnergy.com.

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Uranium Energy Corp. (UEC) Video Chart for Thursday, September 9, 2010

Thursday, September 9th, 2010

UEC is breaking out of its long-term downtrend and establishing a new higher low at this point. The video explains what we are looking for at this point in order for the new uptrend to continue.

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Uranium Energy Corp. (UEC) Prospects Looking Better Every Day

Wednesday, September 8th, 2010

U.S. based exploration and development company Uranium Energy Corp is increasingly seen as being in one of the best positions of any company in the country to benefit from the growing demand for uranium. The company has the objective of near term uranium production in the U.S., and is already far ahead of most, with production possible late 2010 or early 2011.

UEC is well financed, with $22 million cash on hand, to develop and construct its lead projects. The company’s main Hobson processing facility in South Texas is fully licensed, with an installed capacity to process 2.5 million pounds of U308 per year. UEC is also developing several satellite production operations, taking advantage of the fast track permitting process in Texas. The company’s team is well experienced in the use of In-situ recovery, or solution mining, a very low cost exploration and production approach.

Over the past several months, the investment press has begun to recognize the critical differences between UEC and so many other developing uranium companies:

• In a recent report on the investment potential of the uranium market, Byron King, editor of Agora Financial’s Energy & Scarcity Investor, issued a buy recommendation on UEC, stating:

“As I’ve mentioned over and over, the nearest, most immediate beneficiary of the nuclear focus is Texas uranium producer Uranium Energy Corp (UEC: AMEX)….UEC is a great, well-run company. Management is just superb! It’s deep in the heart of energy-friendly Texas. UEC controls huge resources and owns the BEST exploration database in the Lone Star State…UEC is all good news. By early 2011, UEC

• Forbes Magazine, in a feature article on UEC titled “Energy & Genius, Homegrown Fuel,” stated the following:

“The U.S. imports most of the uranium its nuclear reactors use. [UEC] wants to change that…In January Adnani’s UEC was granted licenses to begin operating its Palangana mine in Duval County, Tex…Adnani thinks he can start production by the end of the year. His ambition is to get permits at more spots and to reach 2.5 million to 3 million pounds a year all told within five years.” April 2010

• The Dundee Securities Corporation, the full-service investment dealer, stated:

“Buy…Uranium Production Still Expected by Year End…Planning for the future is a strong suit for UEC’s forward looking management…Our expectations are being heightened…Palangana construction imminent, final pieces falling into place… First production is still anticipated for Q4/2010…Goliad entering its final paces…” May 2010

For more information, see the company website at www.UraniumEnergy.com.

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Uranium Energy Corp. (UEC) Announces Completion of First Phase of Wellfield Development at Palangana in South Texas

Monday, August 30th, 2010

Uranium Energy Corp. was pleased to announce this morning that it has completed the first of three phases of wellfield development at Production Area One (“PAA-1″) at the Palangana ISR uranium project located in South Texas.

According to the press release, Uranium Energy completed 40 injection and production wells thus far, marking the end of Phase One in the development of PAA-1. The wells are to be brought on-stream in three approximately equivalent phases as part of the build-up to initial sustainable levels of production. Construction of Palangana’s ion-exchange satellite facility is also underway with pumps and tanks to be installed during the month of September.

Harry Anthony, Chief Operating Officer, stated, “The development progress at Palangana is on-track, on-schedule and on-budget for initial production starting in November this year. We are continuing the drilling, electrical build-out and wellfield piping, and are pleased with the pace and testing to date.”

Uranium Energy also announced that it has completed drilling and flow-testing the Class 1 non-hazardous waste disposal well, known as WDW 419, that is needed for the Palangana project. WDW 419 is permitted for injection of by-product solutions generated during in-situ recovery of uranium and during restoration of the field. The well was drilled and cased to a depth of 6,950 feet in June and July. It was perforated earlier this month with two perforation intervals.

The well has now been flow-tested using filtered brine at several rates ranging between 42 and 176 gallons per minute at wellhead pressures ranging from 0, or a vacuum, up to 300 pounds per square inch, and was successful from applying just these modest wellhead pressures. WDW 419 is in the top 99 percentile of all Class I uranium wells based on superb flow rates at modest injection pressures.

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Uranium Energy Corp. (UEC) Video Chart for Tuesday, August 24, 2010

Tuesday, August 24th, 2010

UEC has an interesting weekly chart. This video shows historic support and resistance levels over a 3 year period. When looking at the recent months, the indicators are giving a hint that resistance levels may once again be challenged.

Please click the following link: http://www.qualitystocks.net/videocharts.php

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Uranium Energy Corp. (UEC) Well Ahead Of Goldman Sachs and Investment Community In Pursuing Uranium Boom

Monday, August 23rd, 2010

Uranium Energy Corp, a uranium exploration and development company holding one of the largest databases of historic uranium exploration and development in the country, is hoping to cash in on a coming uranium boom, based upon an increasing move toward nuclear power and away from fossil fuels. The latest sign that such a boom is well underway is now coming from no less than Goldman Sachs. The huge investment bank has a major energy commodities trading operation, including the actual buying and selling of physical commodities to support its trading of energy derivative contracts.

Until now, Goldman’s focus has been on oil and gas, but it is now moving into the uranium market. The investment bank recently acquired the commodity trading side of Constellation Energy Group, part of which were uranium stockpiles. When Goldman saw the surging demand for uranium from some of its biggest utility clients, it realized the potential and is now making uranium part of its package.

Worldwide demand for uranium (and for uranium exploration companies) continues to grow, while production continues to lag. Uranium Energy Corp. is benefiting from that gap by using its unsurpassed uranium exploration database to identify prime acquisition targets. So far the company has concentrated on promising properties in Texas, Wyoming, New Mexico, Arizona, Colorado, and Utah. This region has a strong history of successful uranium mining, an activity that dried up in the 1980s as nuclear power went out of favor. Today, with the renewed popularity of nuclear power, these proven sites are being reevaluated and UEC is making sure that it’s at the front of the line.

In addition to an unmatched database, UEC is supported by a strong team of managers with decades of hands-on experience in the industry, together with a reputation for excellence. The company is also well financed, a critical and often missing element in the mining industry.

UEC realized long ago what Goldman Sachs and the rest of the investment community is just now beginning to appreciate, that a shift in the energy market is opening up tremendous opportunities for those that are ahead of the game.

For more information, see the company website at www.UraniumEnergy.com.

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