Keros Capital Update: Uranium Energy Corp. (NYSE/AMEX: UEC) Lead Uranium Project in Final Stages
Uranium Energy Corp’s lead project is the Goliad ISR Uranium Project in South Texas. The Goliad project is in the final stages of mine permitting, and was recently issued a Final Draft Mine Permit and a Final Draft Production Authorization for Production
(EMAILWIRE.COM, August 25, 2009 ) - New York, NY - Uranium Energy Corp (NYSE-AMEX: UEC) is a U.S.-based exploration and development company with the objective of near-term uranium production in the U.S. using advanced, low-cost in-situ recovery (ISR) methods. The Company is recommended by six qualified energy analysts representing major institutions who have set 12-month price targets significantly higher than today’s share price.
Energy-specialized analysts are responding to rapid progress being made by UEC with its permitting process for getting into uranium production at its Goliad in-situ recovery project in South Texas. These analysts see an opportunity emerging in the uranium market, and emphasize that, ‘UEC is the next public company anticipated to achieve major uranium production in North America.’ To view these stories including statements in Business Week and on CNBC, please click the following link: http://www.uraniumenergy.com/experts_say/1/
Lead Project in Final Stages
UEC’s operations are managed by professionals who, as a team, are highly experienced in the key facets of uranium-project acquisition, exploration, development and mining, with a recognized profile for excellence in their industry. The Company controls one of the largest databases of historic uranium exploration and development in the country. Using this knowledge base, the Company has acquired and is advancing exploration properties of merit throughout the southwestern U.S.
Uranium Energy Corp’s lead project is the Goliad ISR Uranium Project in South Texas. The Goliad project is in the final stages of mine permitting, and was recently issued a Final Draft Mine Permit and a Final Draft Production Authorization for Production Area 1.
Why is Uranium Energy Corp so favored by some of the most knowledgeable energy specialists in North America?
First, demand for uranium overwhelms current production. The U.S. uses 55 million pounds of uranium each year to produce 20% of the country’s electricity. In 2008, just 4 million pounds of uranium were mined here, down a little from prior years. Concurrently, usage can only increase. The Federal government is making a new commitment to nuclear power and the uranium industry, and is actively setting up loan guarantees for the construction of additional nuclear reactors in the U.S.
Globally, regardless of the recession, uranium usage is rising steadily and mining production is FAR behind. This imbalance won't last. The price of uranium is in a viable range today, and is anticipated to rise sharply in coming years. In fact, after bottoming at $40/lb in early April, the spot price has risen to the $50 range today, and many analysts believe uranium may rise substantially this year.
The Company is well funded to aggressively pursue its key development targets in the months ahead with more than $25 million on hand.
UEC received its Draft Mine Permit and Draft Production Area Authorization #1 for in-situ recovery (ISR) of uranium at its Goliad Project in South Texas in June 2008 and May 2009, respectively. This is the first Draft Mine Permit and the first Draft PAA to be issued in over 10 years to a publicly listed company in the U.S.
Several uranium analysts anticipate production at Goliad to start in 2010, next year – North America’s next major producer.
It’s no mystery why UEC has a strong lead in the race for new uranium production: Our technical team has more experience than the others, having designed and initiated production at the last ISR facility to go into production, which is also in South Texas. In total, the company’s technical team has participated in a meaningful way in 35 ISR uranium projects in the U.S. Regulators know our competence first-hand.
Institutional Attention
On June 30 UEC was added to the Russell 2000 Index and the Russell 3000 Index as published on June 29 by Russell Investment Group. Annual reconstitution of Russell's U.S. indexes captures the 4,000 largest U.S. stocks as of the end of May, ranking them by total market capitalization. Membership in both indexes remains in place for one year and means automatic inclusion in appropriate growth and sector indexes.
Russell indexes are used widely by investment managers and institutional investors for index funds and as benchmarks for both passive and active investment strategies. These investment tools originated from Russell's multi-manager investment business in the early 1980s when the company saw the need for a more objective, market-driven set of benchmarks in order to evaluate performance of investment managers.
It's worthwhile to know what institutions are doing simply because their stock positions can be so large. In the short term, stocks will perform well if institutions are buying and perform poorly if institutions are selling. 61 institutions own 17.1% of the 0.05 billion common shares outstanding. This is lower than the average institutional ownership of the Metal Mining Industry at 32.8%, and lower than the average of the S&P 500 as a whole which is 69.3%.
Net Change (3 month)……….. +11.5%
Shares Purchased (3 month)…….6.05M
Net Purchases (3 month)…… +5.39M
Shares Sold (3 month)………………0.66M
Uranium Energy Corp. has interests in 63,562.87 gross acres (56,034.59 net mineral acres) of leased or staked mineral properties, consisting of claim blocks located in the States of Arizona, Colorado, New Mexico, Texas, Utah and Wyoming. The Goliad Project in Goliad County, Texas, and the Cebolleta Project in Cibola County, New Mexico, are the Company's principal mineral properties.
Other major market movers: Bank of America (NYSE: BAC), General Electric (NYSE: GE), Google Inc. (NASDAQ: GOOG), Citigroup (NYSE: C), Cisco Systems (NASDAQ: CSCO)
Company Info
Uranium Energy Corp. is headquartered at:
9801 Anderson Mill Road, Suite 230, Austin,
TX, 78750
United States
www.uraniumenergy.com/
To get the full story, and to keep current on this rapidly emerging situation, click through here to the website, www.uraniumenergy.com and register to receive news.
Energy-specialized analysts are responding to rapid progress being made by UEC with its permitting process for getting into uranium production at its Goliad in-situ recovery project in South Texas. These analysts see an opportunity emerging in the uranium market, and emphasize that, ‘UEC is the next public company anticipated to achieve major uranium production in North America.’ To view these stories including statements in Business Week and on CNBC, please click the following link: http://www.uraniumenergy.com/experts_say/1/
Lead Project in Final Stages
UEC’s operations are managed by professionals who, as a team, are highly experienced in the key facets of uranium-project acquisition, exploration, development and mining, with a recognized profile for excellence in their industry. The Company controls one of the largest databases of historic uranium exploration and development in the country. Using this knowledge base, the Company has acquired and is advancing exploration properties of merit throughout the southwestern U.S.
Uranium Energy Corp’s lead project is the Goliad ISR Uranium Project in South Texas. The Goliad project is in the final stages of mine permitting, and was recently issued a Final Draft Mine Permit and a Final Draft Production Authorization for Production Area 1.
Why is Uranium Energy Corp so favored by some of the most knowledgeable energy specialists in North America?
First, demand for uranium overwhelms current production. The U.S. uses 55 million pounds of uranium each year to produce 20% of the country’s electricity. In 2008, just 4 million pounds of uranium were mined here, down a little from prior years. Concurrently, usage can only increase. The Federal government is making a new commitment to nuclear power and the uranium industry, and is actively setting up loan guarantees for the construction of additional nuclear reactors in the U.S.
Globally, regardless of the recession, uranium usage is rising steadily and mining production is FAR behind. This imbalance won't last. The price of uranium is in a viable range today, and is anticipated to rise sharply in coming years. In fact, after bottoming at $40/lb in early April, the spot price has risen to the $50 range today, and many analysts believe uranium may rise substantially this year.
The Company is well funded to aggressively pursue its key development targets in the months ahead with more than $25 million on hand.
UEC received its Draft Mine Permit and Draft Production Area Authorization #1 for in-situ recovery (ISR) of uranium at its Goliad Project in South Texas in June 2008 and May 2009, respectively. This is the first Draft Mine Permit and the first Draft PAA to be issued in over 10 years to a publicly listed company in the U.S.
Several uranium analysts anticipate production at Goliad to start in 2010, next year – North America’s next major producer.
It’s no mystery why UEC has a strong lead in the race for new uranium production: Our technical team has more experience than the others, having designed and initiated production at the last ISR facility to go into production, which is also in South Texas. In total, the company’s technical team has participated in a meaningful way in 35 ISR uranium projects in the U.S. Regulators know our competence first-hand.
Institutional Attention
On June 30 UEC was added to the Russell 2000 Index and the Russell 3000 Index as published on June 29 by Russell Investment Group. Annual reconstitution of Russell's U.S. indexes captures the 4,000 largest U.S. stocks as of the end of May, ranking them by total market capitalization. Membership in both indexes remains in place for one year and means automatic inclusion in appropriate growth and sector indexes.
Russell indexes are used widely by investment managers and institutional investors for index funds and as benchmarks for both passive and active investment strategies. These investment tools originated from Russell's multi-manager investment business in the early 1980s when the company saw the need for a more objective, market-driven set of benchmarks in order to evaluate performance of investment managers.
It's worthwhile to know what institutions are doing simply because their stock positions can be so large. In the short term, stocks will perform well if institutions are buying and perform poorly if institutions are selling. 61 institutions own 17.1% of the 0.05 billion common shares outstanding. This is lower than the average institutional ownership of the Metal Mining Industry at 32.8%, and lower than the average of the S&P 500 as a whole which is 69.3%.
Net Change (3 month)……….. +11.5%
Shares Purchased (3 month)…….6.05M
Net Purchases (3 month)…… +5.39M
Shares Sold (3 month)………………0.66M
Uranium Energy Corp. has interests in 63,562.87 gross acres (56,034.59 net mineral acres) of leased or staked mineral properties, consisting of claim blocks located in the States of Arizona, Colorado, New Mexico, Texas, Utah and Wyoming. The Goliad Project in Goliad County, Texas, and the Cebolleta Project in Cibola County, New Mexico, are the Company's principal mineral properties.
Other major market movers: Bank of America (NYSE: BAC), General Electric (NYSE: GE), Google Inc. (NASDAQ: GOOG), Citigroup (NYSE: C), Cisco Systems (NASDAQ: CSCO)
Company Info
Uranium Energy Corp. is headquartered at:
9801 Anderson Mill Road, Suite 230, Austin,
TX, 78750
United States
www.uraniumenergy.com/
To get the full story, and to keep current on this rapidly emerging situation, click through here to the website, www.uraniumenergy.com and register to receive news.
Contact Information:
Uranium Energy Corp.
Jim Mav
Tel: 908-464-1747
Email us
This is a press release. Press release distribution and press release services by EmailWire.Com: http://www.emailwire.com/us-press-release-distribution.php.
Uranium Energy Corp.
Jim Mav
Tel: 908-464-1747
Email us
This is a press release. Press release distribution and press release services by EmailWire.Com: http://www.emailwire.com/us-press-release-distribution.php.
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