Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Uranium Energy Corp. (UEC) Completes Acquisition in Paraguay
U.S.-based Uranium Energy Corp. is an emerging uranium exploration, development and production company. The company recently announced that it completed the acquisition of a Paraguayan company which holds a 100% legal and beneficial interest in two unencumbered prospecting permits covering in total 247,000 acres located in the area of Coronel Oviedo in central Paraguay.
In order to complete the purchase, Uranium Energy has issued 225,000 restricted common shares. Once uranium is produced from the Coronel Oviedo Project, it will in addition pay a small royalty to the prior owner.
More of the uranium occurrences found on the property are ‘roll-front’ type deposits. These are similar to those currently producing uranium by low cost in-situ recovery methods in the western United States, central Asia and Australia. Prior to acquisition, Uranium Energy did have a company conduct an aquifer test as to whether the aquifer could sustain in-situ uranium recovery methods.
At present, Uranium Energy is preparing a geological model based on historical data for the property. The historical data is based on extensive uranium exploration by Anschutz Corporation between 1976 and 1983, and by Crescent Resources between 2006 and 2008. A total of 31 drill holes, out of 52, drilled by both companies showed significant uranium values. The known uranium mineralization indicated by the previous drilling occurred at depths between 450 and 750 feet. It also identified open-ended, tabular-like mineralization similar to that found at the company’s Goliad Project in Texas.
The company plans to pace its exploration program at Coronel Oviedo to be able to initiate an approximate 10,000 meter drilling program which is to occur during the third quarter of 2011. In order to support these operations in Paraguay, Uranium Energy has appointed Dr. Bernie Schmeling and Carlos Figueredo to a special advisory board.
Dr. Schmeling is a professional geophysicist, has more than 35 years’ experience in exploration and mining, and is internationally recognized as an expert in uranium in-situ mining. Mr. Figueredo has 25 years of experience in oil and mineral exploration in Paraguay. He formerly worked for Anschutz Corporation during its initial exploration efforts in the country and played a pivotal role in the earlier development of the Coronel Oviedo Project.
For more information on Uranium Energy Corporation, please visit the company’s website at www.uraniumenergy.com
UEC Completes Acquisition in Paraguay
U.S.-based Uranium Energy Corp. is an emerging uranium exploration, development and production company. The company recently announced that it completed the acquisition of a Paraguayan company which holds a 100% legal and beneficial interest in two unencumbered prospecting permits covering in total 247,000 acres located in the area of Coronel Oviedo in central Paraguay.
In order to complete the purchase, Uranium Energy has issued 225,000 restricted common shares. Once uranium is produced from the Coronel Oviedo Project, it will in addition pay a small royalty to the prior owner.
More of the uranium occurrences found on the property are ‘roll-front’ type deposits. These are similar to those currently producing uranium by low cost in-situ recovery methods in the western United States, central Asia and Australia. Prior to acquisition, Uranium Energy did have a company conduct an aquifer test as to whether the aquifer could sustain in-situ uranium recovery methods.
At present, Uranium Energy is preparing a geological model based on historical data for the property. The historical data is based on extensive uranium exploration by Anschutz Corporation between 1976 and 1983, and by Crescent Resources between 2006 and 2008. A total of 31 drill holes, out of 52, drilled by both companies showed significant uranium values. The known uranium mineralization indicated by the previous drilling occurred at depths between 450 and 750 feet. It also identified open-ended, tabular-like mineralization similar to that found at the company’s Goliad Project in Texas.
The company plans to pace its exploration program at Coronel Oviedo to be able to initiate an approximate 10,000 meter drilling program which is to occur during the third quarter of 2011. In order to support these operations in Paraguay, Uranium Energy has appointed Dr. Bernie Schmeling and Carlos Figueredo to a special advisory board.
Dr. Schmeling is a professional geophysicist, has more than 35 years’ experience in exploration and mining, and is internationally recognized as an expert in uranium in-situ mining. Mr. Figueredo has 25 years of experience in oil and mineral exploration in Paraguay. He formerly worked for Anschutz Corporation during its initial exploration efforts in the country and played a pivotal role in the earlier development of the Coronel Oviedo Project.
For more information on Uranium Energy Corporation, please visit the company’s website at www.uraniumenergy.com
Uranium Energy Corp. (UEC) Signs Long Term Contract to Supply Uranium Compound
Uranium Energy Corp. recently announced that the company has signed a long term contract to supply a uranium compound to an unidentified customer.
Uranium Energy Corp. said that the contract calls for the company to deliver 300,000 pounds of triuranium octoxide (U3O8) over a three year period beginning in August 2011. There is no set delivery schedule in the contract and the company will receive current market prices at the time of delivery.
Uranium Energy Corp. plans to utilize its Hobson processing facility to fulfill the terms of the contract. The Hobson plant is located in Karnes County, Texas, and underwent a complete refurbishment in 2008.
The plant is designed to receive uranium resin from satellite mining operations located in south Texas and process it into triuranium octoxide for shipment to customers. Triuranium octoxide is one of the main ingredients of yellowcake, a concentrated uranium powder used in the preparation of fuel rods for use in nuclear reactors.
The Hobson plant is currently receiving uranium resin from the Palangana mine, which started up production in November 2010. The Palangana mine is located on 6,200 acres approximately 100 miles south of the Hobson plant.
Uranium Energy Corp. estimates that the mine contains measured and indicated resources of 1.06 million pounds of uranium in two separate production areas.
For more information on the company, go to www.uraniumenergy.com
UEC Signs Long Term Contract to Supply Uranium Compound
Uranium Energy Corp. recently announced that the company has signed a long term contract to supply a uranium compound to an unidentified customer.
Uranium Energy Corp. said that the contract calls for the company to deliver 300,000 pounds of triuranium octoxide (U3O8) over a three year period beginning in August 2011. There is no set delivery schedule in the contract and the company will receive current market prices at the time of delivery.
Uranium Energy Corp. plans to utilize its Hobson processing facility to fulfill the terms of the contract. The Hobson plant is located in Karnes County, Texas, and underwent a complete refurbishment in 2008.
The plant is designed to receive uranium resin from satellite mining operations located in south Texas and process it into triuranium octoxide for shipment to customers. Triuranium octoxide is one of the main ingredients of yellowcake, a concentrated uranium powder used in the preparation of fuel rods for use in nuclear reactors.
The Hobson plant is currently receiving uranium resin from the Palangana mine, which started up production in November 2010. The Palangana mine is located on 6,200 acres approximately 100 miles south of the Hobson plant.
Uranium Energy Corp. estimates that the mine contains measured and indicated resources of 1.06 million pounds of uranium in two separate production areas.
For more information on the company, go to www.uraniumenergy.com
Uranium Energy Corp. (UEC) Announces Developments on Palangana Project
Based in the United States with operations underway throughout North America, Uranium Energy Corp. is dedicated to furthering the production, development and exploration of uranium ore. UEC is focused on developing uranium sites and currently has two projects located in South Texas. One of these projects is the Palangana Project, which is an in-situ recovery (ISR) project that is steadily increasing production.
The Palangana Project is located in the South Texas uranium belt, a prime location for uranium development. Positioned approximately 100 miles south of the Hobson facility, the Palanga Project consists of approximately 6,200-acres. In the past, Union Carbide Corporation (UCC), Chevron and Everest Exploration Inc. drilled over 4,000 exploration, development and production holes. In the late 1970s, UCC produced uranium at the project using ISR technology. Harry Anthony, UEC’s Chief Operating Officer, was a member of UCC’s ISR mining team and oversaw the development and production of this project.
The latest 43-101 for Palangana was filed on Feb 23rd 2010. The Technical Report provides a Measured and Indicated Resource Estimate for the project of 1,057,000 pounds at an average grade of 0.135% eU3O8. This resource is located in two zones referred to as Production Area #1 and Production Area #2. An additional 1,154,000 pounds of eU3O8 at an average grade of 0.176% is classified as an Inferred Resource Estimate, and is located in six new exploration zones.
These resource estimates were completed by SRK Consulting U.S. Inc., and were based on the results from 2,694 drill holes at the Palangana Project completed by previous operators. The Resource Estimates are mainly located east of the Palangana Dome.
Uranium Energy has completed Phase I of the wellfield at Production Area 1, with more than 45 injection wells and production wells drilled, cased and tested. The average depth of wells throughout the PAA-1 wellfield is 450 feet. Each well has yielded promising volumes of water during each testing phase. UEC is adding gaseous oxygen and carbon dioxide to the circulating ground water, which has activated the mining process of dissolving the uranium from surrounding sandstones.
Phases II and III of the PAA-1 wellfield will each contain 45 production and injection wells. To date, all Phase II wells have been completed, and are targeted to commence mining this year. UEC has begun installation of Phase III wells with three rigs actively casing and then completing each well.
Additionally, UEC’s permitting and development teams are working towards bringing Palangana’s Production Area 2 closer to production. UEC’s exploration group commenced a drilling program during the third quarter consisting of approximately 50 holes at the proposed Production Area 3 wellfield. Resource expansion efforts are continuing in other areas at Palangana.
China GengSheng Minerals, Inc. (CHGS) Signs Agreement with US Company to Market and Distribute Products in North America
China GengSheng Minerals, Inc. recently announced that it has signed a five-year strategic partnership agreement with a U.S.-based strategic advisory, marketing and technology company for the marketing and distribution of its fracture proppant products in the North American market. China GengShen is a leading high-tech industrial materials manufacturer that specializes in producing heat resistant, energy efficient materials for a variety of industrial applications.
According to the agreement, the parties will collaborate on the development of the fracture proppant market in North America through the establishment of a jointly-owned brand that will be marketed to North American oil & gas producers. GengSheng will ship 4,000 metric tons of proppant products per month, beginning in July 2011, with volume increasing on a bi-monthly basis. Volume shipments are expected to reach at least 8,000 metric tons per month by October 2011.
“From our initial discussions with the partner, we were impressed not only with their capabilities, but also their deep knowledge of and strong connections within the North American fracture proppant market and oil & gas markets, and we believe they will be an ideal partner as we work to expand our presence internationally,” said Mr. Shunqing Zhang, Chairman and CEO of China GengSheng Minerals. “In addition to the significant revenue potential this partnership presents, it will provide us with our own brand specific to the North American market. The establishment of this brand will allow us to build awareness of GengSheng among international oil & gas customers, rather than remaining behind the scenes, as we had under our previous OEM sales model.”
Mr. Zhang added, “In order to better address the sizeable international growth opportunities in the proppant market, we have expanded our annual manufacturing capacity to 90,000 metric tons, and have begun construction on our second production facility, which will provide another 60,000 metric tons of capacity per year, beginning in the third quarter. Given our advanced technology, increased capacity and diversified marketing channels, we are confident in our ability to quickly capture meaningful share in the overseas fracture proppants market as it continues to mature.”
Under the agreement, GengSheng’s partner has the option to purchase quantities in excess of those stipulated in the contract, based on available capacity.
CorMedix, Inc. (CRMD) Notes Latest FDA Correspondence regarding Neutrolin®
CorMedix, Inc., a pharmaceutical company focused on developing and commercializing therapeutic products to prevent and treat cardiorenal disease, yesterday detailed its latest correspondence from the U.S. Food and Drug Administration (FDA) regarding the company’s regulatory submission for Neutrolin®.
Neutrolin is the CorMedix’s candidate for the prevention of catheter-related bloodstream infections. The company recently filed a Request for Designation (RFD), which allows the FDA to determine the product type and assign the product to the appropriate lead center.
In its filing, CorMedix proposed for Neutrolin to be classified as a device and assigned to the Center For Devices and Radiological Health as lead reviewer. The company noted that the RFD filing is the company’s response to communication from the FDA following CorMedix’s Investigational Device Exemption (IDE) amendment submission.
If the FDA hasn’t responded with a designation letter within 60 calendar days of the filing of the RFD, CorMedix’s recommendation will stand as the designated classification and assignment.
CorMedix expects to launch its clinical study of Neutrolin in the second half of 2011, contingent on the pending device designation and IDE approval.
CorMedix also said it expects to complete the initial submission of the Neutrolin Design Dossier to the European notified body by the end of the second quarter 2011.
For more information visit www.cormedix.com
Uranium Energy Corp. (UEC) Owes It All to Experience
In a relatively short time, Uranium Energy Corp. has managed to separate itself from virtually every other uranium exploration company in the country. While other emerging companies have struggled both financially and technologically to establish themselves in the industry, UEC has been able to successfully identify and mine the most promising sites in the U.S., acquire and bring online one of the county’s few fully licensed and permitted uranium processing plants, and even secure a multi-year uranium sales contract for 300,000 pounds of uranium.
The reason for the dramatic difference between UEC and everyone else is clearly the technical team behind the company. Together they represent a depth of uranium industry experience unmatched for a developing company.
• Harry Anthony (COO, Director) is internationally recognized for his knowledge of the uranium industry. A professional engineer for 36 years, Mr. Anthony has gained particular recognition for his pioneering work in the field of In Situ Recovery (ISR), a far more cost effective and environmentally sound method of uranium extraction now used around the world.
• Clyde Yancey (VP of Exploration) has been heavily involved with the uranium industry for 33 years, from his initial work with the Uranium and Thorium Resources Branch of the USGS, through his years of industrial work in exploration and ISR. Mr. Yancey brings a special expertise in the field of reclamation, and is a Registered Professional Geologist in Wyoming and Texas.
• Robert Underdown (VP of Production) has held a variety of senior operational positions at ISR uranium mines in Texas since 1978, with an extensive background in the design, management, and reclamation of ISR uranium mines. He has a thorough working knowledge of regulatory agencies, and has held responsibility for the management and safety of hundreds of mining personnel.
• Curtis Sealy (VP of Health, Safety, and the Environment) is a Registered Professional Engineer with 40 years of experience in mine construction and other large-scale engineering projects, and has industrial uranium mining experience with several companies. Most recently he served as VP of Environmental and Regulatory Affairs for Energy Metals Corp., acquired by Uranium One in 2007.
• Ed Brezinski (VP of Marketing & Sales) has over 25 years of experience with utility companies and uranium commodity brokers, with a focus on the marketing of uranium and related products. Prior to joining UEC, he served as Vice President of Nuclear Fuel Supply for NYSE-listed Energy Solutions Inc.
• Leonard Garcia (VP of Land) brings over 30 years of experience in mineral title research, lease negotiations, and acquisitions. He has worked with some of the biggest energy related companies in the country and is a Registered Professional Landman.
For information on the full UEC technical team, visit www.UraniumEnergy.com/about_us/technical_team
For other information on UEC, visit www.UraniumEnergy.com
Uranium Energy Corp. (UEC) Technical Analysis for Friday, June 24, 2011
UEC is forming a higher low and appears to be mounting a climb off the bottom. The indicators have turned and are trending towards bullish positions which will have the eyes of technical traders as resistance at $3.25 is being broken down.
To view the video chart, visit the following link: http://www.missionir.com/videos.html
UEC Video Chart 6/24/11
UEC is forming a higher low and appears to be mounting a climb off the bottom. The indicators have turned and are trending towards bullish positions which will have the eyes of technical traders as resistance at $3.25 is being broken down.
http://www.missionir.com/videos.html
Uranium Energy Corp. (UEC) Announces Developments on Palangana Project
Based in the United States with operations underway throughout North America, Uranium Energy Corp. is dedicated to furthering the production, development and exploration of uranium ore. UEC is focused on developing uranium sites and currently has two projects located in South Texas. One of these projects is the Palangana Project, which is an in-situ recovery (ISR) project that is steadily increasing production.
The Palangana Project is located in the South Texas uranium belt, a prime location for uranium development. Positioned approximately 100 miles south of the Hobson facility, the Palanga Project consists of approximately 6,200-acres. In the past, Union Carbide Corporation (UCC), Chevron and Everest Exploration Inc. drilled over 4,000 exploration, development and production holes. In the late 1970s, UCC produced uranium at the project using ISR technology. Harry Anthony, UEC’s Chief Operating Officer, was a member of UCC's ISR mining team and oversaw the development and production of this project.
The latest 43-101 for Palangana was filed on Feb 23rd 2010. The Technical Report provides a Measured and Indicated Resource Estimate for the project of 1,057,000 pounds at an average grade of 0.135% eU3O8. This resource is located in two zones referred to as Production Area #1 and Production Area #2. An additional 1,154,000 pounds of eU3O8 at an average grade of 0.176% is classified as an Inferred Resource Estimate, and is located in six new exploration zones.
These resource estimates were completed by SRK Consulting U.S. Inc., and were based on the results from 2,694 drill holes at the Palangana Project completed by previous operators. The Resource Estimates are mainly located east of the Palangana Dome.
Uranium Energy has completed Phase I of the wellfield at Production Area 1, with more than 45 injection wells and production wells drilled, cased and tested. The average depth of wells throughout the PAA-1 wellfield is 450 feet. Each well has yielded promising volumes of water during each testing phase. UEC is adding gaseous oxygen and carbon dioxide to the circulating ground water, which has activated the mining process of dissolving the uranium from surrounding sandstones.
Phases II and III of the PAA-1 wellfield will each contain 45 production and injection wells. To date, all Phase II wells have been completed, and are targeted to commence mining this year. UEC has begun installation of Phase III wells with three rigs actively casing and then completing each well.
Additionally, UEC’s permitting and development teams are working towards bringing Palangana's Production Area 2 closer to production. UEC’s exploration group commenced a drilling program during the third quarter consisting of approximately 50 holes at the proposed Production Area 3 wellfield. Resource expansion efforts are continuing in other areas at Palangana.
UEC Announces Developments on Palangana Project
Based in the United States with operations underway throughout North America, Uranium Energy Corp. is dedicated to furthering the production, development and exploration of uranium ore. UEC is focused on developing uranium sites and currently has two projects located in South Texas. One of these projects is the Palangana Project, which is an in-situ recovery (ISR) project that is steadily increasing production.
The Palangana Project is located in the South Texas uranium belt, a prime location for uranium development. Positioned approximately 100 miles south of the Hobson facility, the Palanga Project consists of approximately 6,200-acres. In the past, Union Carbide Corporation (UCC), Chevron and Everest Exploration Inc. drilled over 4,000 exploration, development and production holes. In the late 1970s, UCC produced uranium at the project using ISR technology. Harry Anthony, UEC’s Chief Operating Officer, was a member of UCC's ISR mining team and oversaw the development and production of this project.
The latest 43-101 for Palangana was filed on Feb 23rd 2010. The Technical Report provides a Measured and Indicated Resource Estimate for the project of 1,057,000 pounds at an average grade of 0.135% eU3O8. This resource is located in two zones referred to as Production Area #1 and Production Area #2. An additional 1,154,000 pounds of eU3O8 at an average grade of 0.176% is classified as an Inferred Resource Estimate, and is located in six new exploration zones.
These resource estimates were completed by SRK Consulting U.S. Inc., and were based on the results from 2,694 drill holes at the Palangana Project completed by previous operators. The Resource Estimates are mainly located east of the Palangana Dome.
Uranium Energy has completed Phase I of the wellfield at Production Area 1, with more than 45 injection wells and production wells drilled, cased and tested. The average depth of wells throughout the PAA-1 wellfield is 450 feet. Each well has yielded promising volumes of water during each testing phase. UEC is adding gaseous oxygen and carbon dioxide to the circulating ground water, which has activated the mining process of dissolving the uranium from surrounding sandstones.
Phases II and III of the PAA-1 wellfield will each contain 45 production and injection wells. To date, all Phase II wells have been completed, and are targeted to commence mining this year. UEC has begun installation of Phase III wells with three rigs actively casing and then completing each well.
Additionally, UEC’s permitting and development teams are working towards bringing Palangana's Production Area 2 closer to production. UEC’s exploration group commenced a drilling program during the third quarter consisting of approximately 50 holes at the proposed Production Area 3 wellfield. Resource expansion efforts are continuing in other areas at Palangana.
Uranium Energy Corp. (UEC) Owes It All to Experience
In a relatively short time, Uranium Energy Corp. has managed to separate itself from virtually every other uranium exploration company in the country. While other emerging companies have struggled both financially and technologically to establish themselves in the industry, UEC has been able to successfully identify and mine the most promising sites in the U.S., acquire and bring online one of the county’s few fully licensed and permitted uranium processing plants, and even secure a multi-year uranium sales contract for 300,000 pounds of uranium.
The reason for the dramatic difference between UEC and everyone else is clearly the technical team behind the company. Together they represent a depth of uranium industry experience unmatched for a developing company.
• Harry Anthony (COO, Director) is internationally recognized for his knowledge of the uranium industry. A professional engineer for 36 years, Mr. Anthony has gained particular recognition for his pioneering work in the field of In Situ Recovery (ISR), a far more cost effective and environmentally sound method of uranium extraction now used around the world.
• Clyde Yancey (VP of Exploration) has been heavily involved with the uranium industry for 33 years, from his initial work with the Uranium and Thorium Resources Branch of the USGS, through his years of industrial work in exploration and ISR. Mr. Yancey brings a special expertise in the field of reclamation, and is a Registered Professional Geologist in Wyoming and Texas.
• Robert Underdown (VP of Production) has held a variety of senior operational positions at ISR uranium mines in Texas since 1978, with an extensive background in the design, management, and reclamation of ISR uranium mines. He has a thorough working knowledge of regulatory agencies, and has held responsibility for the management and safety of hundreds of mining personnel.
• Curtis Sealy (VP of Health, Safety, and the Environment) is a Registered Professional Engineer with 40 years of experience in mine construction and other large-scale engineering projects, and has industrial uranium mining experience with several companies. Most recently he served as VP of Environmental and Regulatory Affairs for Energy Metals Corp., acquired by Uranium One in 2007.
• Ed Brezinski (VP of Marketing & Sales) has over 25 years of experience with utility companies and uranium commodity brokers, with a focus on the marketing of uranium and related products. Prior to joining UEC, he served as Vice President of Nuclear Fuel Supply for NYSE-listed Energy Solutions Inc.
• Leonard Garcia (VP of Land) brings over 30 years of experience in mineral title research, lease negotiations, and acquisitions. He has worked with some of the biggest energy related companies in the country and is a Registered Professional Landman.
For information on the full UEC technical team, visit http://www.UraniumEnergy.com/about_us/technical_team
For other information on UEC, visit http://www.UraniumEnergy.com">www.UraniumEnergy.com
UEC Owes It All to Experience
In a relatively short time, Uranium Energy Corp. has managed to separate itself from virtually every other uranium exploration company in the country. While other emerging companies have struggled both financially and technologically to establish themselves in the industry, UEC has been able to successfully identify and mine the most promising sites in the U.S., acquire and bring online one of the county’s few fully licensed and permitted uranium processing plants, and even secure a multi-year uranium sales contract for 300,000 pounds of uranium.
The reason for the dramatic difference between UEC and everyone else is clearly the technical team behind the company. Together they represent a depth of uranium industry experience unmatched for a developing company.
• Harry Anthony (COO, Director) is internationally recognized for his knowledge of the uranium industry. A professional engineer for 36 years, Mr. Anthony has gained particular recognition for his pioneering work in the field of In Situ Recovery (ISR), a far more cost effective and environmentally sound method of uranium extraction now used around the world.
• Clyde Yancey (VP of Exploration) has been heavily involved with the uranium industry for 33 years, from his initial work with the Uranium and Thorium Resources Branch of the USGS, through his years of industrial work in exploration and ISR. Mr. Yancey brings a special expertise in the field of reclamation, and is a Registered Professional Geologist in Wyoming and Texas.
• Robert Underdown (VP of Production) has held a variety of senior operational positions at ISR uranium mines in Texas since 1978, with an extensive background in the design, management, and reclamation of ISR uranium mines. He has a thorough working knowledge of regulatory agencies, and has held responsibility for the management and safety of hundreds of mining personnel.
• Curtis Sealy (VP of Health, Safety, and the Environment) is a Registered Professional Engineer with 40 years of experience in mine construction and other large-scale engineering projects, and has industrial uranium mining experience with several companies. Most recently he served as VP of Environmental and Regulatory Affairs for Energy Metals Corp., acquired by Uranium One in 2007.
• Ed Brezinski (VP of Marketing & Sales) has over 25 years of experience with utility companies and uranium commodity brokers, with a focus on the marketing of uranium and related products. Prior to joining UEC, he served as Vice President of Nuclear Fuel Supply for NYSE-listed Energy Solutions Inc.
• Leonard Garcia (VP of Land) brings over 30 years of experience in mineral title research, lease negotiations, and acquisitions. He has worked with some of the biggest energy related companies in the country and is a Registered Professional Landman.
For information on the full UEC technical team, visit http://www.UraniumEnergy.com/about_us/technical_team
For other information on UEC, visit http://www.UraniumEnergy.com">www.UraniumEnergy.com
SEFE, Inc. (SEFE) Announces Addition of Harold Sciotto to Board of Directors
SEFE, Inc., developer of an innovative solution designed to capture energy from our atmosphere, this morning announced the appointment of Harold Sciotto to its Board of Directors.
SEFE’s mission is to generate energy by harnessing static electricity in the atmosphere and converting it into an endless power supply. The company noted Mr. Sciotto’s experience in the alternative energy industry as complementary to development initiatives and the implementation of its business strategy.
Mr. Sciotto served as Corporate Secretary and Treasurer of ECOtality, Inc. (ECTY) from December of 2004 until November of 2010, and as a Director of the company from December of 2004 until October of 2009. While serving ECOtality, Electric Transportation Engineering Corporation (eTec), a subsidiary, announced it has officially signed a contract with the U.S. Department of Energy for a grant of $99.8 million to commence the largest deployment of electric vehicles (EVs) and charging infrastructure in U.S. history.
From June 1964 until his retirement in May 1993, Mr. Sciotto served Sears Roebuck & Company in various sales and management positions. These positions encompassed store sales and department management positions, store merchandise manager, district business manager, and store manager. He was also a managing partner of Smart Safe Homes, LLC, and has served as an independent business consultant to various business ventures.
“SEFE is completely unique in its pursuit of generating clean, carbon-free energy,” commented Mr. Sciotto. “I am very excited to be a part of this revolutionary initiative and believe the experience I’ve accumulated over the course of my career will help accelerate the company’s momentum.”
Uranium Energy Corp. (UEC) Strong Track Record a Clear Indicator of Future Success
For investors interested in UEC, with 2011 only half way through, it’s useful to look back on some of the hard-won accomplishments of the previous year, gaining some perspective on what the company can do and which way it’s headed. Those accomplishments were summarized in the annual year-end letter to shareholders presented in December of 2010 by UEC’s President and CEO, Amir Adnani.
The major achievements of 2010 for UEC were in the areas of initial production, exploration, and financing.
• Initial Production – In November of 2010, UEC initiated uranium ISR (in-situ recovery) at their Palangana Project in south Texas, with the first uranium loaded resins being delivered to the company’s Hobson processing plant in Texas. The Hobson plant represents one of the few fully licensed and permitted uranium processing plants in the country, and soon began turning out the final product, marketable U308.
• Exploration and Development – By the end of the year, UEC was actively drilling at both the Palangana and the Salvo projects in south Texas, and had technical reports estimating resources in all categories at Palangana of 2.2 million pounds, and at Salvo of 1.5 million pounds. In addition, exploration and development work was continuing at other sites, including Goliad in Texas, where the company received its Mine Permit and Production Area Authorization and had technical reports estimating resources of 6.9 million pounds.
• Financing – In 2010, UEC received nearly $40 million, through $27.5 million in equity financing and the sale of a non-core asset for $11 million, giving the company an unusually strong financial position to continue investments in production and exploration.
2010 also saw increased analyst and media coverage for UEC, with analysts raising their price targets as goals were met. Forbes magazine published a feature article on the company in April of 2010 and CEO Adnani was interviewed by CNBC, The Wall Street Journal, Bloomberg, and Reuters. UEC was also added to the S&P/TSX Global Mining Index, an index of the world’s leading mining companies and, on November 19, 2010, the company had the honor of ringing the NYSE Closing Bell, marking the UEC’s transition from explorer to producer.
By the end of 2010, UEC was debt free, with $35 million in cash, one of the country’s strongest technical teams, and various uranium mining and processing operations in Texas under development or production, with a number of other promising sites around the country under consideration. Most importantly, the company had established itself as North America’s newest uranium producer.
The goal for 2011: Expanding production and generating cash flow.
For more information on UEC, visit www.UraniumEnergy.com
Uranium Energy Corp. (UEC) Anticipates Construction for Goliad Project in July 2011
Uranium Energy Corp. is an industry leader in the production, development and exploration of uranium ore. The company is focused on developing uranium sites, and currently has a prominent project underway in Texas. Located in north-central Goliad County, Texas, the Goliad Project consists of 13 ISR uranium mining leases that cover 1,421 net acres of contiguous properties.
The project is located in the Interior Coastal Plains portion of the Gulf Coastal Plains physiographic province. Experts characterize the geology by tertiary age sedimentary units that dip and thicken toward the Gulf of Mexico. Uranium mineralization is commonly seen in tertiary age formations and is often found within sand/sandstone types of deposits. According to UEC’s website, the permeable sands have also shown strong reductants, which have created widespread or localized areas of reducing conditions in the groundwater. These have caused dissolved uranium migrating in oxidizing groundwater to precipitate and concentrate.
Between 2006 and 2007, UEC drilled over 599 confirmation and delineation holes to a 43-101 compliant resource of 6.9 million pounds U3O8. Of that number, 5.4 million pounds is measured and indicated and 1.5 million pounds is inferred. Across the properties, UEC has measured mineralization to be in four sand horizons from depths of 90 feet to 450 feet. The average thickness across these sand horizons is 14.5 feet, and they have an average grade of 0.075%. An independent party reviewed the Project’s metallurgical testing, and found recoveries of 86% to 89%.
Previously, Coastal Uranium held the leases to these properties as the original holder. From 1979-1980, the company conducted a reconnaissance exploration project over a very large area that included the current Uranium Energy Corp. leases. Moore Energy Corp. acquired the leases from Coastal Uranium and drilled 479 holes during 1983 and 1984. After completing exploration drilling in 1984, Moore Energy estimated uranium reserves of approximately 3,366,000 tons at an average grade of about 0.05% eU3O8 and an average disequilibrium factor of 1.494. This equates to approximately 5.2 million pounds of eU3O8 – an estimate historical in nature.
The latest Technical Report, filed on March 4th 2008, provides for a measured and indicated resource estimate for the company’s Goliad Project of 5,475,200 pounds at an average grade of 0.05% eU3O8, up from the previously reported and historical resource of 5.2 million pounds eU3O8 which was set forth in the Company’s previously filed Goliad Project NI 43-101 technical report. An additional 1,547,500 pounds of eU3O8 at an average grade of 0.05% is classified as an inferred mineral resource in the Technical Report. The estimate is based on the results from 1,086 drill holes at the Goliad Project, 599 by Uranium Energy Corp, 487 by other parties.
According to data provided by UEC, Commissioners of the Texas Commission on Environmental Quality (TCEQ) have approved the Mine Permit, the Production Area Authorization for Production Area One (PA-1), and have granted the request for designation of an Exempt Aquifer. The Goliad Project has only one pending Texas authorization remaining, which is a Radioactive Material License. It is currently at an advanced technical review stage with TCEQ.
Uranium Energy Corp. expects that the Goliad Project will become its second uranium-producing asset in Texas. When the company receives the Radioactive Material License for the project, UEC will commence construction at the project site. UEC anticipates that the remaining license will be approved this month.
Uranium Energy Corp. (UEC) is “One to Watch”
Uranium Energy Corp. 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.
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.
Uranium Energy’s fully licensed and permitted Hobson processing facility has a capacity of up to 3 million pounds per annum and is central to all of the company’s projects in South Texas. Well financed to execute on its key programs, the company’s Palangana is-situ recovery project is fully permitted and ramping up to full production, and its Goliad in-situ recovery project is in the final stages of mine permitting for production.
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 successful strategy, Uranium Energy Corp is well positioned to capitalize on the world’s first significant alternative energy boom.
Key Investment Highlights
Aggressive Exploration Program Underway in South Texas
Controls Twenty-Seven Projects in the U.S. with 35+ mm lbs. U3O8
Operates the First New U.S. ISR Uranium Mine in Five Years
Strong Balance Sheet with $34 Million in Cash and No Debt
LightPath Technologies, Inc. (LPTH) is “One to Watch”
Over the past 50 years, there has been a steady move toward the use of light and other near-light electromagnetic wave related technologies for everything from high-speed communication to medical analysis and treatment. With advantages that light has over electricity in certain applications, and with new applications being developed, it’s a move that is expected to continue and even accelerate. LightPath Technologies, based in Florida, has been a consistent driver of this development.
LightPath specializes in what is called aspheric optics, essentially optical lenses that have more complex shapes than simple spherical or cylindrical type lenses. Such lenses can avoid optical aberrations common in simple lenses, and, as a result, can effectively replace traditional multi-lens systems that are more complex and bulky.
Aspheric lens assemblies are important for medical, industrial, defense, and communication applications. The company provides optical products covering the spectral range from UV to long wave infrared (LWIR), including molded aspheric optics, thermal imaging infrared lenses and assemblies, GRADIUM® optics, fiber collimators, and optical isolators, and can combine various optical elements into complete optical assemblies. In addition, LightPath is TUV ISO 9001 and SGS 9001:2000 certified.
LightPath began in 1985 with the invention of GRADIUM® glass, an axial gradient index glass used for cost-effective high power laser systems, and has continued to grow organically with technological developments and through key acquisitions. The company’s customer base represents a diverse mix of industrial, military, and medical applications. LightPath optical and mechanical engineers work directly with clients to ensure proper integration of optical products into the final system. The company also has full automation capabilities for final production once the design is completed.
LightPath has facilities at their world headquarters in Research Park at the University of Central Florida in Orlando, as well as in Shanghai, China.
For additional information, visit the company’s website at www.LightPath.com
NovaGold Resources, Inc. (NG) Moves Forward on Galore Creek, Major Copper-Gold-Silver Property
NovaGold, a precious metals exploration and development company focused on British Columbia and Alaska, has announced significant progress towards completion of a pre-feasibility study for its Galore Creek copper-gold-silver project in British Columbia. The study is expected to be complete by July, and a National Instrument 43-101 compliant technical report is concurrently being prepared by AMEC Americas Limited.
The Galore Creek property covers nearly 460 square miles in northwestern British Columbia, and is owned equally by subsidiaries of NovaGold and Teck Resources. It represents one of the world’s largest undeveloped copper-gold-silver deposits.
NovaGold President and CEO, Rick Van Nieuwenhuyse, said the following, “Completion of the prefeasibility study will be an important milestone as we work with Teck to optimize the Galore Creek project. Galore Creek is one of the most significant copper-gold projects in the world. Its timely development is important for all stakeholders, including Federal and Provincial governments as well as First Nation communities of northwestern British Columbia.”
The pre-feasibility study is being prepared by Galore Creek Mining Corporation, jointly owned by NovaGold Resources and Teck Resources Limited. Teck completed funding requirements of $373 million during the second quarter of 2011, earning a 50% interest in GCMC. The Project will move forward with Teck and NovaGold equally funding further project development.
In addition to Galore Creek in British Columbia, NovaGold hold interests in several properties in Alaska, including the Donlin Creek Project in western Alaska, considered one of the largest undeveloped gold deposits in the world. The Donlin Creek property is owned equally by NovaGold and Barrick Gold Corporation. NovaGold’s stated objective is to become a low-cost million-ounce-per-year gold producer. The company has a track record of expanding deposits through successful exploration and the forging of critical partnerships.
For additional information on NovaGold Resources, visit the company’s website at www.NovaGold.net
Uranium Prices Could Reach New Highs as Japan Recovers from Nuclear Disaster
The nuclear crisis in Japan has caused many changes for the country and for the global economy. Analysts are keeping watch over certain goods and materials, but nothing has been more widely discussed than uranium. Despite the incident, analysts expect spot uranium prices to reach levels that were seen in Japan prior to the nuclear crisis. Amir Adnani, the Chief Executive Officer of Uranium Energy Corp. (AMEX: UEC), a U.S.-based company, said that demand for the ore remains intact, and as such, prices of spot uranium could continue to rise to reach new highs.
In his interview, Adnani noted that spot uranium prices reached an all-time high of $140/lb in July of 2007, and stated that, “There is no reason why prices shouldn’t reach all time highs, as the end-user is not affected by the price of uranium.” Adnani said that the current supply of uranium is not enough to meet global demand. After the Fukushima crisis, global demand fell from 185 million pounds to 175 million, while supply remained steady at approximately 130 million.
Uranium has been highlighted in discussions about the nuclear crisis in Japan because it is used to fuel nuclear power plants. Mr. Adnani said that before the earthquake and tsunami damaged the Fukushima Daiichi nuclear complex, people expected the price of uranium to reach around $80/lb by the end of the year. Spot uranium traded at around $70/lb just prior to the nuclear crisis; after Fukushima, uranium prices slumped to $56/lb as investors nervously weighed the potential for a global reconsideration concerning nuclear power.
Some are cautious to say that uranium prices will rise because 17 nuclear plants worldwide have closed post-Fukushima. However, Adnani believes that uranium demand will not be affected, mainly because of the fact that, globally, construction of 62 nuclear reactors is underway, only 3% of which are from G-7 countries. Adnani believes this to be significant, stating, “The fundamental difference between reactors from the G-7 and those from growing economies is that the reactors in growing economies are state-run entities that have very little input from the public.”
He theorized that those governments are more likely to advance their nuclear power capabilities. He used the example of China, where access to capital is easier for state-run projects than for private-run projects. Private-run projects can be swayed by negative public opinion and are often subject to lobbying from shareholders.
The nuclear disaster in Japan has been compared to the infamous Chernobyl disaster in the Soviet Union, but Adnani notes that Chernobyl was more severe. As events in Japan continue to unfold, Adnani believes that “nuclear power is likely to continue to be at the forefront of the world’s energy mix, as the burning of fossil fuels continues to damage the environment and people become more aware of this.”
According to Adnani, UEC was the only company in the world to commission a uranium project last year. At full capacity, the company can process 3 million pounds of uranium a year, very close to the United States’ existing annual domestic output of 3.5 million pounds. In the quarter ending Jan. 31, production of uranium concentrate reached approximately 21,000 pounds. Production is expected to increase every quarter to reach 1 million pounds at the end of July 2012. As UEC’s CEO, Adnani feels that his company is in position to capitalize on the projected resurgence of spot uranium prices.
Uranium Energy Corp. (UEC) Signs Merger Deal with Private Mining Company
Uranium Energy Corp. recently reported that the company has entered into a merger deal with Concentric Energy, a privately owned mining company with operations in Arizona.
Uranium Energy Corp. will issue 1.25 million shares of the company’s common stock in exchange for all outstanding shares of Concentric Energy Corp. The merger has been approved by the boards of directors of both companies.
Concentric Energy Corp. owns a 100% interest in the Anderson property, a uranium production area located in Yavapai County, Arizona. The property is composed of 289 contiguous mineral claims on 5,785 acres.
Uranium Energy Corp. said that open pit mining of uranium ore at the Anderson property began in 1955 after levels of radioactivity were found at the site. The company said that more than 10,000 tons of uranium ore were mined at the Anderson property and transported off site for further processing. Production from the property ended in 1959 after the Atomic Energy Commission ended its uranium purchasing program.
In the late 1970’s, approximately 1,400 exploration holes were drilled at the site by various mining companies to assess the feasibility of constructing a mining and processing facility on the property. These feasibility studies did not lead to the construction of any mining operations.
Concentric Energy staked a claim to the Anderson property in 2001, and began a drill program in 2006. The company has drilled 25 exploratory holes totaling more than 8,000 feet.
For more information on the company, go to www.uraniumenergy.com
Uranium Energy Corp. (UEC) Signs Long Term Contract to Supply Uranium Compound
Uranium Energy Corp. recently announced that the company has signed a long term contract to supply a uranium compound to an unidentified customer.
Uranium Energy Corp. said that the contract calls for the company to deliver 300,000 pounds of triuranium octoxide (U3O8) over a three year period beginning in August 2011. There is no set delivery schedule in the contract and the company will receive current market prices at the time of delivery.
Uranium Energy Corp. plans to utilize its Hobson processing facility to fulfill the terms of the contract. The Hobson plant is located in Karnes County, Texas, and underwent a complete refurbishment in 2008.
The plant is designed to receive uranium resin from satellite mining operations located in south Texas and process it into triuranium octoxide for shipment to customers. Triuranium octoxide is one of the main ingredients of yellowcake, a concentrated uranium powder used in the preparation of fuel rods for use in nuclear reactors.
The Hobson plant is currently receiving uranium resin from the Palangana mine, which started up production in November 2010. The Palangana mine is located on 6,200 acres approximately 100 miles south of the Hobson plant.
Uranium Energy Corp. estimates that the mine contains measured and indicated resources of 1.06 million pounds of uranium in two separate production areas.
For more information on the company, go to www.uraniumenergy.com
Uranium Energy Corp. (UEC) Signs Merger Deal with Private Mining Company
Uranium Energy Corp. recently reported that the company has entered into a merger deal with Concentric Energy, a privately owned mining company with operations in Arizona.
Uranium Energy Corp. will issue 1.25 million shares of the company’s common stock in exchange for all outstanding shares of Concentric Energy Corp. The merger has been approved by the boards of directors of both companies.
Concentric Energy Corp. owns a 100% interest in the Anderson property, a uranium production area located in Yavapai County, Arizona. The property is composed of 289 contiguous mineral claims on 5,785 acres.
Uranium Energy Corp. said that open pit mining of uranium ore at the Anderson property began in 1955 after levels of radioactivity were found at the site. The company said that more than 10,000 tons of uranium ore were mined at the Anderson property and transported off site for further processing. Production from the property ended in 1959 after the Atomic Energy Commission ended its uranium purchasing program.
In the late 1970’s, approximately 1,400 exploration holes were drilled at the site by various mining companies to assess the feasibility of constructing a mining and processing facility on the property. These feasibility studies did not lead to the construction of any mining operations.
Concentric Energy staked a claim to the Anderson property in 2001, and began a drill program in 2006. The company has drilled 25 exploratory holes totaling more than 8,000 feet.
For more information on the company, go to www.uraniumenergy.com
UEC Signs Merger Deal with Private Mining Company
Uranium Energy Corp. recently reported that the company has entered into a merger deal with Concentric Energy, a privately owned mining company with operations in Arizona.
Uranium Energy Corp. will issue 1.25 million shares of the company’s common stock in exchange for all outstanding shares of Concentric Energy Corp. The merger has been approved by the boards of directors of both companies.
Concentric Energy Corp. owns a 100% interest in the Anderson property, a uranium production area located in Yavapai County, Arizona. The property is composed of 289 contiguous mineral claims on 5,785 acres.
Uranium Energy Corp. said that open pit mining of uranium ore at the Anderson property began in 1955 after levels of radioactivity were found at the site. The company said that more than 10,000 tons of uranium ore were mined at the Anderson property and transported off site for further processing. Production from the property ended in 1959 after the Atomic Energy Commission ended its uranium purchasing program.
In the late 1970’s, approximately 1,400 exploration holes were drilled at the site by various mining companies to assess the feasibility of constructing a mining and processing facility on the property. These feasibility studies did not lead to the construction of any mining operations.
Concentric Energy staked a claim to the Anderson property in 2001, and began a drill program in 2006. The company has drilled 25 exploratory holes totaling more than 8,000 feet.
For more information on the company, go to www.uraniumenergy.com
Uranium Prices Could Reach New Highs as Japan Recovers from Nuclear Disaster
The nuclear crisis in Japan has caused many changes for the country and for the global economy. Analysts are keeping watch over certain goods and materials, but nothing has been more widely discussed than uranium. Despite the incident, analysts expect spot uranium prices to reach levels that were seen in Japan prior to the nuclear crisis. Amir Adnani, the Chief Executive Officer of Uranium Energy Corp. (AMEX: UEC), a U.S.-based company, said that demand for the ore remains intact, and as such, prices of spot uranium could continue to rise to reach new highs.
In his interview, Adnani noted that spot uranium prices reached an all-time high of $140/lb in July of 2007, and stated that, “There is no reason why prices shouldn’t reach all time highs, as the end-user is not affected by the price of uranium.” Adnani said that the current supply of uranium is not enough to meet global demand. After the Fukushima crisis, global demand fell from 185 million pounds to 175 million, while supply remained steady at approximately 130 million.
Uranium has been highlighted in discussions about the nuclear crisis in Japan because it is used to fuel nuclear power plants. Mr. Adnani said that before the earthquake and tsunami damaged the Fukushima Daiichi nuclear complex, people expected the price of uranium to reach around $80/lb by the end of the year. Spot uranium traded at around $70/lb just prior to the nuclear crisis; after Fukushima, uranium prices slumped to $56/lb as investors nervously weighed the potential for a global reconsideration concerning nuclear power.
Some are cautious to say that uranium prices will rise because 17 nuclear plants worldwide have closed post-Fukushima. However, Adnani believes that uranium demand will not be affected, mainly because of the fact that, globally, construction of 62 nuclear reactors is underway, only 3% of which are from G-7 countries. Adnani believes this to be significant, stating, “The fundamental difference between reactors from the G-7 and those from growing economies is that the reactors in growing economies are state-run entities that have very little input from the public.”
He theorized that those governments are more likely to advance their nuclear power capabilities. He used the example of China, where access to capital is easier for state-run projects than for private-run projects. Private-run projects can be swayed by negative public opinion and are often subject to lobbying from shareholders.
The nuclear disaster in Japan has been compared to the infamous Chernobyl disaster in the Soviet Union, but Adnani notes that Chernobyl was more severe. As events in Japan continue to unfold, Adnani believes that “nuclear power is likely to continue to be at the forefront of the world’s energy mix, as the burning of fossil fuels continues to damage the environment and people become more aware of this.”
According to Adnani, UEC was the only company in the world to commission a uranium project last year. At full capacity, the company can process 3 million pounds of uranium a year, very close to the United States’ existing annual domestic output of 3.5 million pounds. In the quarter ending Jan. 31, production of uranium concentrate reached approximately 21,000 pounds. Production is expected to increase every quarter to reach 1 million pounds at the end of July 2012. As UEC’s CEO, Adnani feels that his company is in position to capitalize on the projected resurgence of spot uranium prices.
Uranium Energy Corp. (UEC) Anticipates Construction for Goliad Project in July 2011
Uranium Energy Corp. is an industry leader in the production, development and exploration of uranium ore. The company is focused on developing uranium sites, and currently has a prominent project underway in Texas. Located in north-central Goliad County, Texas, the Goliad Project consists of 13 ISR uranium mining leases that cover 1,421 net acres of contiguous properties.
The project is located in the Interior Coastal Plains portion of the Gulf Coastal Plains physiographic province. Experts characterize the geology by tertiary age sedimentary units that dip and thicken toward the Gulf of Mexico. Uranium mineralization is commonly seen in tertiary age formations and is often found within sand/sandstone types of deposits. According to UEC’s website, the permeable sands have also shown strong reductants, which have created widespread or localized areas of reducing conditions in the groundwater. These have caused dissolved uranium migrating in oxidizing groundwater to precipitate and concentrate.
Between 2006 and 2007, UEC drilled over 599 confirmation and delineation holes to a 43-101 compliant resource of 6.9 million pounds U3O8. Of that number, 5.4 million pounds is measured and indicated and 1.5 million pounds is inferred. Across the properties, UEC has measured mineralization to be in four sand horizons from depths of 90 feet to 450 feet. The average thickness across these sand horizons is 14.5 feet, and they have an average grade of 0.075%. An independent party reviewed the Project’s metallurgical testing, and found recoveries of 86% to 89%.
Previously, Coastal Uranium held the leases to these properties as the original holder. From 1979-1980, the company conducted a reconnaissance exploration project over a very large area that included the current Uranium Energy Corp. leases. Moore Energy Corp. acquired the leases from Coastal Uranium and drilled 479 holes during 1983 and 1984. After completing exploration drilling in 1984, Moore Energy estimated uranium reserves of approximately 3,366,000 tons at an average grade of about 0.05% eU3O8 and an average disequilibrium factor of 1.494. This equates to approximately 5.2 million pounds of eU3O8 – an estimate historical in nature.
The latest Technical Report, filed on March 4th 2008, provides for a measured and indicated resource estimate for the company’s Goliad Project of 5,475,200 pounds at an average grade of 0.05% eU3O8, up from the previously reported and historical resource of 5.2 million pounds eU3O8 which was set forth in the Company’s previously filed Goliad Project NI 43-101 technical report. An additional 1,547,500 pounds of eU3O8 at an average grade of 0.05% is classified as an inferred mineral resource in the Technical Report. The estimate is based on the results from 1,086 drill holes at the Goliad Project, 599 by Uranium Energy Corp, 487 by other parties.
According to data provided by UEC, Commissioners of the Texas Commission on Environmental Quality (TCEQ) have approved the Mine Permit, the Production Area Authorization for Production Area One (PA-1), and have granted the request for designation of an Exempt Aquifer. The Goliad Project has only one pending Texas authorization remaining, which is a Radioactive Material License. It is currently at an advanced technical review stage with TCEQ.
Uranium Energy Corp. expects that the Goliad Project will become its second uranium-producing asset in Texas. When the company receives the Radioactive Material License for the project, UEC will commence construction at the project site. UEC anticipates that the remaining license will be approved this month.
UEC Anticipates Construction for Goliad Project in July 2011
Uranium Energy Corp. is an industry leader in the production, development and exploration of uranium ore. The company is focused on developing uranium sites, and currently has a prominent project underway in Texas. Located in north-central Goliad County, Texas, the Goliad Project consists of 13 ISR uranium mining leases that cover 1,421 net acres of contiguous properties.
The project is located in the Interior Coastal Plains portion of the Gulf Coastal Plains physiographic province. Experts characterize the geology by tertiary age sedimentary units that dip and thicken toward the Gulf of Mexico. Uranium mineralization is commonly seen in tertiary age formations and is often found within sand/sandstone types of deposits. According to UEC’s website, the permeable sands have also shown strong reductants, which have created widespread or localized areas of reducing conditions in the groundwater. These have caused dissolved uranium migrating in oxidizing groundwater to precipitate and concentrate.
Between 2006 and 2007, UEC drilled over 599 confirmation and delineation holes to a 43-101 compliant resource of 6.9 million pounds U3O8. Of that number, 5.4 million pounds is measured and indicated and 1.5 million pounds is inferred. Across the properties, UEC has measured mineralization to be in four sand horizons from depths of 90 feet to 450 feet. The average thickness across these sand horizons is 14.5 feet, and they have an average grade of 0.075%. An independent party reviewed the Project’s metallurgical testing, and found recoveries of 86% to 89%.
Previously, Coastal Uranium held the leases to these properties as the original holder. From 1979-1980, the company conducted a reconnaissance exploration project over a very large area that included the current Uranium Energy Corp. leases. Moore Energy Corp. acquired the leases from Coastal Uranium and drilled 479 holes during 1983 and 1984. After completing exploration drilling in 1984, Moore Energy estimated uranium reserves of approximately 3,366,000 tons at an average grade of about 0.05% eU3O8 and an average disequilibrium factor of 1.494. This equates to approximately 5.2 million pounds of eU3O8 – an estimate historical in nature.
The latest Technical Report, filed on March 4th 2008, provides for a measured and indicated resource estimate for the company’s Goliad Project of 5,475,200 pounds at an average grade of 0.05% eU3O8, up from the previously reported and historical resource of 5.2 million pounds eU3O8 which was set forth in the Company’s previously filed Goliad Project NI 43-101 technical report. An additional 1,547,500 pounds of eU3O8 at an average grade of 0.05% is classified as an inferred mineral resource in the Technical Report. The estimate is based on the results from 1,086 drill holes at the Goliad Project, 599 by Uranium Energy Corp, 487 by other parties.
According to data provided by UEC, Commissioners of the Texas Commission on Environmental Quality (TCEQ) have approved the Mine Permit, the Production Area Authorization for Production Area One (PA-1), and have granted the request for designation of an Exempt Aquifer. The Goliad Project has only one pending Texas authorization remaining, which is a Radioactive Material License. It is currently at an advanced technical review stage with TCEQ.
Uranium Energy Corp. expects that the Goliad Project will become its second uranium-producing asset in Texas. When the company receives the Radioactive Material License for the project, UEC will commence construction at the project site. UEC anticipates that the remaining license will be approved this month.
Uranium Prices Could Reach New Highs as Japan Recovers from Nuclear Disaster
The nuclear crisis in Japan has caused many changes for the country and for the global economy. Analysts are keeping watch over certain goods and materials, but nothing has been more widely discussed than uranium. Despite the incident, analysts expect spot uranium prices to reach levels that were seen in Japan prior to the nuclear crisis. Amir Adnani, the Chief Executive Officer of Uranium Energy Corp. (AMEX: UEC), a U.S.-based company, said that demand for the ore remains intact, and as such, prices of spot uranium could continue to rise to reach new highs.
In his interview, Adnani noted that spot uranium prices reached an all-time high of $140/lb in July of 2007, and stated that, “There is no reason why prices shouldn’t reach all time highs, as the end-user is not affected by the price of uranium.” Adnani said that the current supply of uranium is not enough to meet global demand. After the Fukushima crisis, global demand fell from 185 million pounds to 175 million, while supply remained steady at approximately 130 million.
Uranium has been highlighted in discussions about the nuclear crisis in Japan because it is used to fuel nuclear power plants. Mr. Adnani said that before the earthquake and tsunami damaged the Fukushima Daiichi nuclear complex, people expected the price of uranium to reach around $80/lb by the end of the year. Spot uranium traded at around $70/lb just prior to the nuclear crisis; after Fukushima, uranium prices slumped to $56/lb as investors nervously weighed the potential for a global reconsideration concerning nuclear power.
Some are cautious to say that uranium prices will rise because 17 nuclear plants worldwide have closed post-Fukushima. However, Adnani believes that uranium demand will not be affected, mainly because of the fact that, globally, construction of 62 nuclear reactors is underway, only 3% of which are from G-7 countries. Adnani believes this to be significant, stating, “The fundamental difference between reactors from the G-7 and those from growing economies is that the reactors in growing economies are state-run entities that have very little input from the public.”
He theorized that those governments are more likely to advance their nuclear power capabilities. He used the example of China, where access to capital is easier for state-run projects than for private-run projects. Private-run projects can be swayed by negative public opinion and are often subject to lobbying from shareholders.
The nuclear disaster in Japan has been compared to the infamous Chernobyl disaster in the Soviet Union, but Adnani notes that Chernobyl was more severe. As events in Japan continue to unfold, Adnani believes that “nuclear power is likely to continue to be at the forefront of the world’s energy mix, as the burning of fossil fuels continues to damage the environment and people become more aware of this.”
According to Adnani, UEC was the only company in the world to commission a uranium project last year. At full capacity, the company can process 3 million pounds of uranium a year, very close to the United States’ existing annual domestic output of 3.5 million pounds. In the quarter ending Jan. 31, production of uranium concentrate reached approximately 21,000 pounds. Production is expected to increase every quarter to reach 1 million pounds at the end of July 2012. As UEC’s CEO, Adnani feels that his company is in position to capitalize on the projected resurgence of spot uranium prices.
Uranium Energy Corp. (UEC) Strong Track Record a Clear Indicator of Future Success
For investors interested in UEC, with 2011 only half way through, it’s useful to look back on some of the hard-won accomplishments of the previous year, gaining some perspective on what the company can do and which way it’s headed. Those accomplishments were summarized in the annual year-end letter to shareholders presented in December of 2010 by UEC’s President and CEO, Amir Adnani.
The major achievements of 2010 for UEC were in the areas of initial production, exploration, and financing.
• Initial Production – In November of 2010, UEC initiated uranium ISR (in-situ recovery) at their Palangana Project in south Texas, with the first uranium loaded resins being delivered to the company’s Hobson processing plant in Texas. The Hobson plant represents one of the few fully licensed and permitted uranium processing plants in the country, and soon began turning out the final product, marketable U308.
• Exploration and Development – By the end of the year, UEC was actively drilling at both the Palangana and the Salvo projects in south Texas, and had technical reports estimating resources in all categories at Palangana of 2.2 million pounds, and at Salvo of 1.5 million pounds. In addition, exploration and development work was continuing at other sites, including Goliad in Texas, where the company received its Mine Permit and Production Area Authorization and had technical reports estimating resources of 6.9 million pounds.
• Financing – In 2010, UEC received nearly $40 million, through $27.5 million in equity financing and the sale of a non-core asset for $11 million, giving the company an unusually strong financial position to continue investments in production and exploration.
2010 also saw increased analyst and media coverage for UEC, with analysts raising their price targets as goals were met. Forbes magazine published a feature article on the company in April of 2010 and CEO Adnani was interviewed by CNBC, The Wall Street Journal, Bloomberg, and Reuters. UEC was also added to the S&P/TSX Global Mining Index, an index of the world’s leading mining companies and, on November 19, 2010, the company had the honor of ringing the NYSE Closing Bell, marking the UEC’s transition from explorer to producer.
By the end of 2010, UEC was debt free, with $35 million in cash, one of the country’s strongest technical teams, and various uranium mining and processing operations in Texas under development or production, with a number of other promising sites around the country under consideration. Most importantly, the company had established itself as North America’s newest uranium producer.
The goal for 2011: Expanding production and generating cash flow.
For more information on UEC, visit www.UraniumEnergy.com
Strong Track Record a Clear Indicator of Future Success
For investors interested in UEC, with 2011 only half way through, it’s useful to look back on some of the hard-won accomplishments of the previous year, gaining some perspective on what the company can do and which way it’s headed. Those accomplishments were summarized in the annual year-end letter to shareholders presented in December of 2010 by UEC’s President and CEO, Amir Adnani.
The major achievements of 2010 for UEC were in the areas of initial production, exploration, and financing.
• Initial Production – In November of 2010, UEC initiated uranium ISR (in-situ recovery) at their Palangana Project in south Texas, with the first uranium loaded resins being delivered to the company’s Hobson processing plant in Texas. The Hobson plant represents one of the few fully licensed and permitted uranium processing plants in the country, and soon began turning out the final product, marketable U308.
• Exploration and Development – By the end of the year, UEC was actively drilling at both the Palangana and the Salvo projects in south Texas, and had technical reports estimating resources in all categories at Palangana of 2.2 million pounds, and at Salvo of 1.5 million pounds. In addition, exploration and development work was continuing at other sites, including Goliad in Texas, where the company received its Mine Permit and Production Area Authorization and had technical reports estimating resources of 6.9 million pounds.
• Financing – In 2010, UEC received nearly $40 million, through $27.5 million in equity financing and the sale of a non-core asset for $11 million, giving the company an unusually strong financial position to continue investments in production and exploration.
2010 also saw increased analyst and media coverage for UEC, with analysts raising their price targets as goals were met. Forbes magazine published a feature article on the company in April of 2010 and CEO Adnani was interviewed by CNBC, The Wall Street Journal, Bloomberg, and Reuters. UEC was also added to the S&P/TSX Global Mining Index, an index of the world’s leading mining companies and, on November 19, 2010, the company had the honor of ringing the NYSE Closing Bell, marking the UEC’s transition from explorer to producer.
By the end of 2010, UEC was debt free, with $35 million in cash, one of the country’s strongest technical teams, and various uranium mining and processing operations in Texas under development or production, with a number of other promising sites around the country under consideration. Most importantly, the company had established itself as North America’s newest uranium producer.
The goal for 2011: Expanding production and generating cash flow.
For more information on UEC, visit www.UraniumEnergy.com
Uranium Energy Corp. (UEC) is "One to Watch"
Uranium Energy Corp. 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.
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.
Uranium Energy’s fully licensed and permitted Hobson processing facility has a capacity of up to 3 million pounds per annum and is central to all of the company’s projects in South Texas. Well financed to execute on its key programs, the company’s Palangana is-situ recovery project is fully permitted and ramping up to full production, and its Goliad in-situ recovery project is in the final stages of mine permitting for production.
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 successful strategy, Uranium Energy Corp is well positioned to capitalize on the world’s first significant alternative energy boom.
Key Investment Highlights
Aggressive Exploration Program Underway in South Texas
Controls Twenty-Seven Projects in the U.S. with 35+ mm lbs. U3O8
Operates the First New U.S. ISR Uranium Mine in Five Years
Strong Balance Sheet with $34 Million in Cash and No Debt
SEFE, Inc. (SEFE) Announces Addition of Harold Sciotto to Board of Directors
SEFE, Inc., developer of an innovative solution designed to capture energy from our atmosphere, this morning announced the appointment of Harold Sciotto to its Board of Directors.
SEFE’s mission is to generate energy by harnessing static electricity in the atmosphere and converting it into an endless power supply. The company noted Mr. Sciotto’s experience in the alternative energy industry as complementary to development initiatives and the implementation of its business strategy.
Mr. Sciotto served as Corporate Secretary and Treasurer of ECOtality, Inc. (ECTY) from December of 2004 until November of 2010, and as a Director of the company from December of 2004 until October of 2009. While serving ECOtality, Electric Transportation Engineering Corporation (eTec), a subsidiary, announced it has officially signed a contract with the U.S. Department of Energy for a grant of $99.8 million to commence the largest deployment of electric vehicles (EVs) and charging infrastructure in U.S. history.
From June 1964 until his retirement in May 1993, Mr. Sciotto served Sears Roebuck & Company in various sales and management positions. These positions encompassed store sales and department management positions, store merchandise manager, district business manager, and store manager. He was also a managing partner of Smart Safe Homes, LLC, and has served as an independent business consultant to various business ventures.
“SEFE is completely unique in its pursuit of generating clean, carbon-free energy,” commented Mr. Sciotto. “I am very excited to be a part of this revolutionary initiative and believe the experience I’ve accumulated over the course of my career will help accelerate the company’s momentum.”
SEFE Announces Addition of Harold Sciotto to Board of Directors
SEFE, Inc., developer of an innovative solution designed to capture energy from our atmosphere, this morning announced the appointment of Harold Sciotto to its Board of Directors.
SEFE’s mission is to generate energy by harnessing static electricity in the atmosphere and converting it into an endless power supply. The company noted Mr. Sciotto’s experience in the alternative energy industry as complementary to development initiatives and the implementation of its business strategy.
Mr. Sciotto served as Corporate Secretary and Treasurer of ECOtality, Inc. (ECTY) from December of 2004 until November of 2010, and as a Director of the company from December of 2004 until October of 2009. While serving ECOtality, Electric Transportation Engineering Corporation (eTec), a subsidiary, announced it has officially signed a contract with the U.S. Department of Energy for a grant of $99.8 million to commence the largest deployment of electric vehicles (EVs) and charging infrastructure in U.S. history.
From June 1964 until his retirement in May 1993, Mr. Sciotto served Sears Roebuck & Company in various sales and management positions. These positions encompassed store sales and department management positions, store merchandise manager, district business manager, and store manager. He was also a managing partner of Smart Safe Homes, LLC, and has served as an independent business consultant to various business ventures.
“SEFE is completely unique in its pursuit of generating clean, carbon-free energy,” commented Mr. Sciotto. “I am very excited to be a part of this revolutionary initiative and believe the experience I’ve accumulated over the course of my career will help accelerate the company’s momentum.”
NeoStem, Inc. (NBS) is “One to Watch”
NeoStem, an international biopharmaceutical company, has adult stem cell operations in the U.S., with cell therapy production facilities in New Jersey and California through its acquisition of Progenitor Cell Therapy, LLC. NeoStem also has a network of adult stem cell therapeutic providers in China, and owns majority interest in Suzhou Erye Pharmaceuticals, a profitable Chinese generic pharmaceutical production company in Suzhou Jiangsu, west of Shanghai. NeoStem has licensed various cellular therapy technologies, and holds the exclusive worldwide rights to a wound healing technology in addition to VSELTM (very small embryonic-like) stem cell technology, involving adult stem cells that have been shown to have several physical characteristics generally found in embryonic stem cells.
Progenitor Cell Therapy, acquired by NeoStem in January of 2011, represents over 100 years of collective experience in the business and science of cell therapy and development. PCT has served over 100 clients from around the world, and has experience with over 20 different cell-based therapeutics. PCT has performed over 30,000 cell therapy procedures, processed and stored over 18,000 cell therapy products, and has arranged the logistics and transportation for over 14,000 cell therapy products for clinical use by over 5,000 patients.
The cornerstone of NeoStem’s China operations is its 51% interest in Suzhou Erye, a well-established vertically-integrated pharmaceutical company focused primarily on the manufacturing and sale of antibiotics, with seven products in its current pipeline. Erye’s new product facility will significantly increase its capacity, expected to make it one of the largest antibiotic producers in Eastern China.
The mission of NeoStem is to accelerate the development of proprietary cellular therapies, with the goal of becoming a global source for the collection, storage, production, therapeutic development, and the transportation of cells for cell-based medicine and regenerative science.
For additional information, visit the company’s website at www.NeoStem.com
China Nutrifruit Group Ltd. (CNGL) to Upgrade Glazed Fruit and Juice Concentrate Production Lines
China Nutrifruit Group Ltd. is a leading producer of premium specialty fruit-based products in China. The company’s food and drink products are processed primarily from fruits grown in northeast China including golden berry, crab apple, blueberry and raspberry.
The company today announced that it is currently making technological upgrades to its glazed fruit production line in Daqing and concentrate juice production line in Mudanjiang. China Nutrifruit expects to complete the upgrade process by next month. It estimates that the total capital expenditure for the upgrades to be approximately $4.9 million.
As part of the upgrade process, China Nutrifruit is currently carrying out machine maintenance activities at the company’s glazed fruit production line. The company expects such upgrades to enhance operational efficiency at its Daquing plant. It is also installing additional processing equipment at its juice concentrate production line. This will raise China Nutrifruit’s annual capacity by 50 percent, from 6,000 tons to 9,000 tons.
China Nutrifruit, thanks to the upgrades, also announced plans today to begin production of cherry tomato glazed fruit products and is introducing new golden berry dried fruit products later this year. For further information on China Nutrifruit Group Limited, please visit the company’s website at www.chinanutrifruit.com
Local.com Corp. (LOCM) Appoints Mark Wallin as Vice President, Product Development
Today, leading online local media company, Local.com Corp., announced that Mark Wallin has been appointed to be the company’s new Vice President, Product Development. Local.com also announced that the company plans to expand its product portfolio for local businesses. These new initiatives are designed to help local businesses increase their online visibility and more effectively communicate with their customers and target audiences.
Mr. Wallin will lead Local.com’s product development initiatives, including defining and refining their product strategies, processes and objectives. He also will orchestrate the launch of products intended to support the company’s growth.
Wallin has more than 15 years of senior level product and technology experience and most recently worked for Sanger Ventures, a company that specialized in product strategy and development consulting services for high growth companies. He previously held various product and technology leadership positions with IBM Global Services and other emerging Internet growth companies. Wallin holds a Bachelor of Science degree in computer systems engineering from Stanford University.
“Mark brings a significant amount of product knowledge and strategic leadership experience to the company and will be instrumental as we roll out our new suite of products for local businesses,” said Michael Sawtell, Local.com COO. “We look forward to his contributions to our slated product stack and our other growth initiatives.”
About MissionIR:
MissionIR is committed to connecting the investment community with companies that have great potential and a strong dedication to building shareholder value. We know our reputation is based on the integrity of our clients and go to great lengths to ensure the companies represented adhere to sound business practices.
Real Goods Solar, Inc. (RSOL) to Merge with Alteris Renewables to Create Solid Solar Integrator
Real Goods Solar, Inc., a solar energy integrator for commercial, government and residential customers in California and Colorado, today announced its merger agreement with Earth Friendly Energy Group Holdings LLC.
The merger is intended to create a multi-state solar integrator with a variety of financing solutions, years of industry experienced management, and a strong commercial customer base.
Real Goods Solar has reported strong internal growth and profitability for seven consecutive quarters, and said it expects to generate revenues of approximately $200 million in the 12 months following completion of the merger, which is slated for the third quarter of 2011.
“Together, we are a much stronger company with a better ability to compete in the market that we established when Real Goods Solar sold the very first solar panel to the public in 1978,” John Schaeffer, president of Real Goods Solar stated in the press release. “We can leverage our complementary expertise and geographies to accelerate the adoption of clean energy across the country. With the U.S. solar market projected to grow fivefold from 2010-2015, our company has plenty of opportunity ahead of it.”
Real Goods Solar also today announced the appointment of Bill Yearsley as Real Goods Solar’s CEO and member of the board of directors. Yearsley noted the experience of involved management, as well as the potential of the merger.
“I am excited to join Real Goods Solar, the pioneering solar company in the United States,” Yearsley stated. “Our ability to execute projects successfully is highly dependent on human resources, our most important asset. Having the opportunity to bring together two very seasoned management teams positions our organization well for the future. The organization we are building will now be capable of providing integrated national project delivery. This is an industry that is built around constant change and I look forward to a program of well planned profitable growth both organically and through acquisitions.”
For more information visit www.realgoodssolar.com
Computer Software Innovations, Inc. (CSWI) is “One to Watch”
For public and private organizations, one of the toughest challenges is getting and keeping a handle on technology, specifically computer and communications technology. After all, most businesses and public institutions are not in the computer business, and don’t want to be. And yet, like everyone else, they need to know, and be able to implement, the kinds of technologies that allow them to function competitively. If they can’t do this, they can soon find themselves out of the game.
Like heading out on a major trip through the wilderness, if you don’t know how to properly outfit and equip yourself, you’re at serious risk. This is the analogy used by Computer Software Innovations, Inc., a rapidly expanding South Carolina based technology services company. CSI provides software and technology solutions to public sector markets as well as businesses.
The company has more than doubled its revenue in the past two years by using organic growth and acquisitions. They serve over 600 school, government, and non-profit organizations, providing financial management software, IT infrastructure, IP telephony, IP video surveillance, video conferencing, wireless classrooms, and other technologies and services.
Their strength with their clients has been in their ability and willingness to take the headache out of technology by handling all aspects of it, from the initial consultation to the final hardware and software implementation, whatever is needed, making the entire process as painless as possible. They’ve strived to bring together a diverse cross section of industry-certified talent, to better address what they recognize as the different needs of education, government, and business. Outside of their dramatic growth, the success of their strategy can be seen in the fact that, unlike most companies, their original set of clients from back in 1989 are all still with them to this day.
For additional information, visit the company’s website at www.CSIOutfitters.com
SEFE, Inc. (SEFE) Makes Harvesting of Atmospheric Electricity a Reality
SEFE, Inc. has devised a system based on proprietary components for harvesting electricity directly out of the atmosphere.
The system is essentially comprised of:
• A weather balloon or blimp with self-deflating safety abilities and a dynamically controlled tethering system to adjust height and thus maximize the capture rate
• A patent pending power converter that is able to translate the current to alternating current suitable to any specific need
• Patent pending method for connecting to the power grid and for remotely managing the entire system via SEFE’s Network Operations Center (NOC)
With the Harmony III commercial grade system, SEFE has demonstrated a platform which is able to capture and translate electrical current from the atmosphere, offering a robust and eminently more cost effective solution than fossil fuels or alternative energy sources.
The system is a quantum leap beyond anything in the traditional or alternative generation markets and because it safely plugs into the endless renewable sea of energy just above our heads, completely without any secondary means required for production, the system represents a new way forward that can function almost anywhere on earth.
This is not alternative energy; this is a paradigm shift to using the existing global atmospheric electric circuit that is continually charged by energetic particles and doing so in such a way that benefits from the increase in electrical conductivity with altitude. This is also not a low carbon footprint alternative method based on unreliable inputs and variable outputs either, this is a virtually no carbon footprint, continual source of energy accessible to all.