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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