They wont it’s all a joke, so any stupid firm can promote their own short position by just commenting an it’s legal to do on their stupid opinion an position. I sold half on a stop loss at 3.25 yesterday luckily. Still way up on it for the year. Put some in uuuu
Looks like it could Sling Shot
Uranium Energy Corp Receives $17.85 Million from the U.S. Department of Energy for Supplying 300,000 lbs. U3O8 at $59.50/lb. to the Strategic Uranium Reserve Program
January 25 2023 - 06:55AM
NYSE American: UEC
CORPUS CHRISTI, Texas, Jan. 25, 2023 /PRNewswire/ - Uranium Energy Corp (NYSE American: UEC) (the "Company" or "UEC") is pleased to announce it has received $17.85 million from the U.S. Department of Energy ("DOE") for supplying 300,000 pounds of U.S. origin uranium concentrates at $59.50/lb. to the DOE – National Nuclear Security Administration ("NNSA") under the contract awarded to the Company announced on December 20, 2022. The award was in response to the NNSA's Request for Proposals to establish its strategic national Uranium Reserve program. Please see the Company's press release dated December 20, 2022 for further details on the Uranium Reserve program.
Amir Adnani, President and CEO stated: "We are honored and delighted to have supplied 300,000 pounds of U.S. origin uranium concentrates to the NNSA and look forward to the continuation of the Uranium Reserve program and working with the DOE in the coming years."
Late, now here comes the dump to 52week lows and beyond jmo
Been playing it nicely $UEC
Ban of Russian uranium could revive local mine operations
Alex Hargrave Oct 20, 2022 Updated 4 hrs ago
Uranium Energy Corp., which acquired the Christensen and Irigaray Ranch uranium mines in Johnson and Campbell counties in its acquisition of Uranium One Americas in December 2021, is slowly preparing to restart operations.
That’s according to Donna Wichers, vice president of Wyoming Operations for UEC. Uranium is not yet priced high enough to start operations, but UEC appears confident that will happen soon. To sustain operations, the market price needs to jump to at least $60 per pound and stay there. Currently, that price sits around $48 per pound.
There’s no telling when that might happen exactly, but what needs to happen is clear, Wichers said.
First, more nuclear reactors, which generate electricity using uranium, would increase demand for the resource. And if Congress opts to ban uranium imports from Russia, Wichers said, that would mean heavier reliance on a domestic product that doesn’t exist right now.
Wyoming’s congressional delegation has backed a bill that aims to do just that. Introduced in March, H.R. 7222, which is co-sponsored by Rep. Liz Cheney, would ban Russian imports of uranium.
Sen. John Barrasso introduced a companion bill in the Senate, cosponsored by Sen. Cynthia Lummis.
“It is absolutely imperative that we cut off all Russian imports, including uranium,” Lummis said in a press release. “Every dollar we send to Russia is a dollar used to continue to attack innocent people in Ukraine. Wyoming has more than enough uranium to fill this gap, and we can mine it in a more environmentally friendly and safe way.”
Both bills were introduced in both chambers, though no further action has been taken. Wichers, however, is hopeful, because reports say the White House may soon ban Russian aluminum imports in response to the country’s military escalation in Ukraine. This shows a willingness to ban Russian imports, which could eventually include uranium.
“Things like that will definitely help the market price,” Wichers said. “More utilities buying domestic, that’s what happens when they can’t get it from Russia, which is cheaper than to buy from domestic sources.”
According to the U.S. Energy Information Administration, the United States imports most of the uranium it uses as fuel. Owners and operators of U.S. nuclear power reactors purchased the equivalent of about 46.74 million pounds of uranium in 2021. Of that, just 5% was domestically produced. During that time, 35% of the uranium the country used was imported from Kazakhstan, 15% from Canada, 14% from each Russia and Australia, 7% from Namibia, and the final 10% was from five other countries.
In testimony to the Senate in March, Scott Melbye, president of the trade association Uranium Producers of America and executive vice president of Uranium Energy Corp., said that American uranium producers can’t compete with state-owned companies that use price undercutting tactics. Melbye specifically called out Russia for employing “predatory market practices to cultivate America’s dangerous reliance on the Kremlin and its allies for uranium and nuclear fuel.”Another factor that could spur domestic uranium production is the proposed national uranium reserve. The Department of Energy issued a request for bids for 2 million pounds of domestic uranium. UEC submitted a bid last month, though the company’s bid is confidential, Wichers said.
“It’ll be interesting, whoever wins the bid, to see at what price they sold it for,” she said. “That will have some impact on the spot price, I would guess.”
A lot is still up in the air, but UEC is preparing for when it resumes operations for the first time since 2018.
“When we shut things down back in 2018, we did things like disconnected our piping and things like that, so now we’re back reconnecting all of our piping,” Wichers said. “We have a list a mile long: checking wellhead integrity, leak detection systems, cleaning our parts and pieces that go on top of our well heads, checking pumps, reinstalling wellhead boxes. We’re doing all kinds of things to get ready.”
The U.S. Energy Information Administration estimates that UEC’s mines in Campbell and Johnson counties could produce 1.3 million pounds of uranium annually.
Resumed production would result in ad valorem tax revenue for Johnson County, which has declined as mineral production declined the past few years. In 2014, U1A paid $1 million in ad valorem taxes, according to previous Bulletin reporting.
UEC currently has 10 employees working at the mine and five working in the company’s Casper office. The company will bring on four to five employees for the preparation process, called properational de-risking. When operations begin, Wichers said, there will be close to 20 positions open. And once operations ramp up and the mine is at full capacity, there could be 50 to 70 people at the mine site.
“When we get the go ahead from our boss, we will flip the switch and we will energize the well fields that we had stopped mining,” Wichers said. “We will initiate our operations back in those well fields and start construction of new well fields.”
I am not, sold the Calls, and loaded $DNA, however like this one $UEC, chart is pretty dang strong, any pullback will buy again
Still holding a position for this one?
| || |
14-Member Technical Team
Info for the Investor
|Investor Relations: |
Uranium links from LinksMine - InfoMine's Library of Mining Web Sites
Uranium Will Rebound with Economy - (The Energy Report) Interview with Barbara Thomae, Senior Mining Analyst
Please boardmark us if this i-Box is helpful... Thanks in advance!!!