Uranium Energy Corp Completes Sale of Uranium
NYSE Amex Equities Exchange Symbol – UEC
CORPUS CHRISTI, TX, Jan. 31, 2012 /CNW/ – Uranium Energy Corp (NYSE AMEX: UEC, the "Company") is pleased to announce the completion of a second uranium sale which will be reflected in the Company's upcoming Fiscal 2012 Q2 report. A further 60,000 pounds of U3O8 were sold for $52 per pound for gross proceeds of $3.12 million, bringing the total U3O8 sold during the first half of Fiscal 2012 to 120,000 pounds.
As a result of this latest sale, the Company has fulfilled its Fiscal 2012 obligations under the multi-year uranium sales contract announced on June 14, 2011. The remaining obligations require the Company to deliver a total 200,000 pounds of U3O8 from the Company's Hobson processing facility during Fiscal 2013 and 2014, with the price to be based on published market price indicators at the time of delivery.
About Uranium Energy Corp
Uranium Energy Corp is a U.S.-based uranium production, development and exploration company operating North America's newest emerging uranium mine. The Company's fully licensed and permitted Hobson processing facility is central to all of its projects in South Texas, including the Palangana in-situ recovery project, which is ramping up initial production, and the Goliad in-situ recovery project which has been granted its Mine Permit and is in the initial stages of mine construction. The Company's operations are managed by professionals with a recognized profile for excellence in their industry, a profile based on many decades of hands-on experience in the key facets of uranium exploration, development and mining.
Stock Exchange Information:
Frankfurt Stock Exchange Symbol: U6Z