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Tuesday, October 27, 2020

Uranium Energy Corp. (NYSEMKT:UEC) Positioned Nicely

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Uranium Energy Corp. (NYSEMKT:UEC) has had a very up and down run for the last three years. In 2015, we saw a dump from the $3 range in mid June to $1 going into the beginning of 2016. Last year was a real non event for the company, shares traded between the 60 cents and 1 dollar range throughout the year, never really gaining any significant momentum. This year has been mixed year for UEC; the opening six weeks of 2017 saw very positive growth hitting a high of $1.920 on Feb 14th, but then collapsing down to the $1.30 range in the following two weeks. Barring the brief slump down to $1.10 in early May, the stock has seen choppy activity from this moment on. The price has hovered around the $1.30 – $1.50 with no real indication of when the next trend will form. There was bullish momentum generated on June 23rd with the price opening at $1.40 and closing 15% up at $1.62.

UEC is a U.S.-based uranium mining and exploration company. The Company controls one of the largest databases of historic uranium exploration and development in the country. Using this knowledge base, the Company has acquired and is advancing exploration properties of merit throughout the southwestern U.S. UEC’s fully licensed and permitted Hobson processing facility is central to all of its projects in South Texas, including the Palangana in-situ recovery mine and the Goliad in-situ recovery project which is fully permitted for production and under construction.

Uranium Energy Corp. (NYSEMKT:UEC) is well financed to aggressively pursue its key development targets and has focused its property acquisition program primarily in the southwestern US states of Texas, Wyoming, New Mexico, Arizona and Colorado.  This region has historically been the most concentrated area for uranium mining in the U.S.

With the use of historical exploration databases, Uranium Energy Corp has been able to target properties for acquisition that have already been the subject of significant exploration and development by senior energy companies in the past.

UEC’s strategy of acquiring exploration databases and leveraging those databases to generate acquisition targets has been effective thus far. The Company will continue to aggressively pursue this formula on an ongoing basis. Uranium Energy Corp is well positioned to capitalize on the world’s overwhelming demand for more uranium, for more energy, for cheaper energy and for a cleaner environment.

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In recent news, it has been announced that UEC will be added to the Russell 3000 Index at the conclusion of the annual reconstitution of the Russell indexes on June 23rd 2017, according to the latest list of additions as posted June 16, 2017 on FTSE Russell’s website.

On May 9th, UEC announced it has entered into a definitive Share Purchase Agreement with Pacific Road Resources Funds (“PRRF”) to acquire all of the issued and outstanding shares of Reno Creek Holdings Inc. (“RCHI”) and, indirectly thereby, 100% of its fully permitted Reno Creek in-situ recovery (“ISR”) project located in the Powder River Basin, Wyoming (“Reno Creek” or the “Project”).This will strengthen UEC’s pipeline of low-cost ISR uranium projects with the addition of Reno Creek, located in the prolific Powder River Basin in Wyoming.

Amir Adnani, President & CEO, stated: “The acquisition of Reno Creek creates an industry-leading diversified pipeline of low-cost ISR uranium projects when combined with our production-ready South Texas hub-and-spoke operations and exploration/development portfolio in Paraguay.  The Reno Creek Project presents a rare opportunity to acquire a large, fully permitted, construction ready, and strategic low-cost ISR asset located in the United States – a complete set of attributes for any potential UEC acquisition.  The Powder River Basin of Wyoming has produced over 85 million lbs U3O8 historically, and is currently home to two of the largest uranium producers in the world: Cameco and Uranium One (Rosatom). We commend Pacific Road for their outstanding work to advance the Reno Creek project over the past seven years, and we welcome them as our newest shareholder.”

With the uranium price set to rise due to a gap in supply and demand, Uranium Energy Corp. (NYSEMKT:UEC) is well positioned to generate substantial returns for its shareholders. UEC is unhedged, with no contracts at pre-set prices, and most highly leveraged to uranium’s price compared to all other uranium miners globally. UEC stands ready to re-start in-situ recovery (ISR) production from its licensed and operational facilities in South Texas with even a modest uranium move. This looks to be a good opportunity for those looking to get into this sector. For continuing coverage on shares of Uranium Energy Corp stock, as well as our other hot stock picks, sign up for our free newsletter today and get our next hot stock pick!

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