Fidest – Agenzia giornalistica/press agency

Quotidiano di informazione – Anno 32 n° 338

Uranium Mining Company’s Production Continues to Grow

Posted by fidest press agency su venerdì, 16 settembre 2011

1 Uranium ore - the principal raw material of ...

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Late last year, Corpus Christi-based Uranium Energy Corp made a significant transition from uranium exploration company to uranium producer. Since the company began production at its South Texas facility in November 2010, it has produced over 120,000 pounds of uranium at a cost of about $15 per pound. In each successive quarter since November, production has more than doubled while production costs have declined. In recent months, some have questioned the future of the uranium market. But according to a report that was just issued by Agora Financial’s Outstanding Investments, this market is set to increase in value for investors—and UEC, the industry’s newest producer, is set to take full advantage of it. “The bottom line is that UEC is technically competent and well managed,” Outstanding Investments says. “It’s got great assets in Texas, the U.S. Southwest and overseas…despite the market gyrations, we have a great uranium play that fits into the present and future uranium story. [We] can’t say what the broad stock market is going to do, but the current troubles have handed us a great company at a deep discount.” What else is working in UEC’s advantage? According to the report, “The three key ingredients of a successful mining project are people, people and people. And it’s safe to say that UEC has people. UEC is the product of a sharp guy, [CEO] Amir Adnani, with whom [we’ve] had some great discussions over the past couple of years.” UEC’s most recent operating results, the report says, show an aggregate production at an average cost of about $15 per pound. By comparison, one industry giant has average production costs of over $32 per pound, while it costs another over $50 to deliver each pound. So even in the tightest of markets for uranium, says the report, UEC has a dramatic cost advantage over the competition. “The share price is simply not reflective of the value here, and in [our] view, this company is selling in the bargain-basement range…the share price is down while the stock has strong trading volume and a solid set of market makers,” the report continues. “Based on the company’s fundamentals, [we] believe that UEC is poised for a strong rebound when the markets settle down. There are handsome gains to be made here.”www.uraniumenergy.com

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