Uranium exploration, development, and production company
Uranium Energy Corp (NYSE - AMEX: UEC) is a U.S.-based exploration and development company focused on uranium production in the U.S. The company's operations are managed by professionals who have earned a reputable profile through many decades of hands-on experience in the key facets of uranium exploration, development, and mining.
The company is the newest uranium producer in North America, operating the first new uranium mine in the U.S. in over 6 years. In 2011, Uranium Energy completed its first full year of production with a cumulative total of 236,000 lbs. of uranium produced at average cost of $16 per pound, which the company then sold at the current spot price of $52 per pound. Uranium utilizes the In-Situ Recovery (ISR) production method, which is a more cost-effective and environmentally friendly way of mining uranium.
Well financed to execute on its key programs, the company controls 28 projects in the U.S. with total resources of more than 41.5M lbs. U3O8. Uranium Energy's fully licensed and permitted Hobson processing facility is central to all of its projects in South Texas, eliminating the need to construct a new processing plant on site at each project.
Additionally, Uranium Energy controls one of the largest databases of historic uranium exploration and development in the nation. Using this knowledge base, the company has acquired and is advancing exploration properties of merit throughout the southwestern U.S., a region known as being the most concentrated area for uranium mining in the United States.
The company's strategy of acquiring exploration databases and leveraging those databases to generate acquisition targets has proven to be effective thus far. With plans to continue aggressively pursuing this strategy, Uranium Energy Corp is well positioned to capitalize on the world's overwhelming demand for more uranium, more energy, cheaper energy, and a cleaner environment.