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URANIUM ENERGY CORP (OTCBB: URME)
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Dear StockUpTicks Reader:
Cameco, the world's largest uranium producer, announced last week that further production delays at its Cigar Lake project would now move to 2011 its target date for production at the site. This announcement will undoubtedly increase concerns in the uranium market about the reliability of future uranium supply - especially from the largest projects expected to supply a large portion of market demand for the next decade. This will likely serve as a bullish signal for uranium pricing and may in fact reverse the recent minor correction in the spot uranium price.
Below is an excerpt from last week's Globe & Mail on this news:
Globe/wire say Cameco's Cigar Lake still aptly named
The Globe and Mail reports in its Thursday, July 12, edition that Cameco, the world's largest uranium producer, says it will take longer than expected to clear water from its flooded Cigar Lake mine. A Bloomberg dispatch to The Globe reports that the mine's production may not begin until 2011, rather than late 2010 as expected. Sealing the source of the flooding and removing water from the Cigar Lake mine will take a number of additional months, and a new route out of the mine may need to be excavated, Saskatoon-based Cameco said yesterday. The mine, which sits on one of the world's richest uranium deposits, flooded last year. The flood put additional pressure on global uranium supply. Cameco has been drilling holes to the water inflow point to pump in concrete and pump out water. It had hoped to have the mine pumped out by the end of the third quarter.
CLICK HERE to read our January 9th StockUpTicks Profile on URME
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Related *NEWS* Items |
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News Release
Thursday July 12, 1:46 pm ET
SmallCap Sentinel: Cameco Delays and Near-Term Producers
IRVINE, Calif., July 12, 2007 -- "It looks like the famed and flooded Cigar Lake mine is going to take longer than expected to repair," stated SmallCap Sentinel analyst D.R. Clark. "A Globe & Mail report this morning confirms as much, stating that Cameco's mine situated in one of the world's richest uranium deposits will likely be non-operational until at least 2011, a year later than the previously reported 2010 date."
"Clearly, this is inviting to near-term uranium producers from a simple supply and demand perspective," Clark added. "Hypothetically, it would be like saying that Microsoft will delay the entry of its own iPhone competitor a year longer than anticipated, giving Apple Inc. another year of market share."
The informational report "Uranium for the SmallCap Investor" has been made available at http://www.SmallCapSentinel.com and will address the rise of interest in uranium related equities such as the aforementioned including Uranium Energy Corp (OTC BB:URME.OB - News), Uranerz Energy Corp. (AMEX:URZ - News), and Uranium Resources (NasdaqGM:URRE - News).
Uranium Energy Corp is a US-based junior resource company with the objective of becoming a near-term ISR uranium producer in the United States. The Company is developing its advanced-stage Goliad Project in South Texas, with ISR uranium production projected to begin in 2009. Uranium Energy Corp controls one of the largest historical uranium exploration and development databases in the US. Through the use of these databases, the Company has acquired advanced uranium properties throughout the southwestern US. More information is available at http://www.uraniumenergy.com.
A StockUpTicks.com profile of URME is available at http://www.stockupticks.com/profiles/1-9-07.html
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Statements herein contain forward-looking statements and are subject to significant risks and uncertainties affecting results. SmallCapSentinel/StockUpTicks.com are properties of Market Pathways Financial Relations Inc. (MP). MP provides no assurance as to the subject company's plans or ability to effect proposed actions and cannot project capabilities, intent, resources, or experience.
All information contained herein is based upon sources believed to be reliable but no representation is made as to its accuracy or completeness. This report is neither a solicitation to buy nor an offer to sell securities but is rather a paid advertisement provided for information purposes only and should not be used as the basis for any investment decision. MP is not an investment advisor and this report is not investment advice. MP has been paid $24,000 by Uranium Energy for preparation and distribution of this report and other advertising services over a ninety day period. Additionally, MP and/or its affiliates, associates and employees from time to time may have either a long or short position in any securities mentioned. This constitutes a conflict of interest as to MP's ability to remain objective in its communication regarding the subject companies.
Contact:
SmallCap Sentinel/StockUpTicks
Kurt Divich, Editor
702-396-1000
Source: SmallCap Sentinel; Uranium Energy Corp
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About Uranium Energy Corp. |
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Uranium Energy Corp., "URME" is a US-based junior resource company with the objective of becoming a near-term ISL uranium producer in the United States. URME is developing its advanced-stage Goliad Project in South Texas, with ISL uranium production projected to begin in 2009.
URME controls one of the largest historical uranium exploration and development databases in the U.S. Through the use of these databases, URME has acquired advanced uranium properties throughout the southwestern U.S. including Texas, Wyoming, New Mexico, Arizona, Colorado and Utah. This region has historically been the most concentrated area for uranium mining in the US. With the use of historical exploration databases, URME 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.
The operational management is comprised of pre-eminent uranium mining and exploration professionals, whose collective experience in the uranium mining industry gives URME the ongoing uranium mine-finding and uranium mine development expertise.
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The Uranium Market and URME |
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America: The Next Uranium Giant
The United States has 104 operating nuclear reactors generating more than 100 million megawatts of electricity each year, or approx. 20% of the country’s energy supply. These plants are using approximately 55 million pounds of U3O8 annually to produce this energy. The U.S. is by far the largest user of uranium in the world.
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ABOUT URANIUM
Uranium is used primarily as an energy source for nuclear fission reactors - a safe, efficient, and emission-free alternative to fossil fuels. The market cycle for uranium had been largely depressed since 1981, but has recently experienced a sharp increase due to macroeconomic factors.
An estimated supply shortfall of 80 million pounds per year, for several coming years, is forecast by measuring current annual reactor demand and current annual mine production. In addition, new nuclear power plants have been commissioned throughout the world; China, India and Russia alone have permitted the construction of over 75 new reactors.
In the United States, uranium exploration has become a national initiative. In August 2005, President Bush signed into law the Domenici-Barton Energy Policy Act containing an array of provisions that support nuclear power. This enactment, combined with the growing public recognition that nuclear power plants generate electricity with considerably less greenhouse emission than fossil fuels, places URME in a favorable position for funding and exploring all aspects of uranium development. |
URME's Place in the Industry
As in all mining of metals, there are stages of getting the ore out of the ground. Comparing all the 'players' in the uranium mining business, some are huge companies in full production (generally mining for Gold and Silver as well). The more medium sized companies are generally operating, but usually for less than a year and are considered in a start-up phase of mining. Most of the smaller companies are PLANNING TO DEVELOP OR DEVELOPING their uranium mining operations and this is the category that URME falls into.
But there is a very significant difference...
Peer competitors of URME include Uranerz Energy, UR-Energy, and Energy Metals. Not surprisingly, as with many SmallCap companies, the difference comes down to people and expertise. URME has the most complete and experienced management and technical team when comes to building and operating ISL uranium mines in the U.S. and globally. Add that to the fact that URME currently has the lowest market valuation compared to its immediate peers and its potential as a company and as a stock becomes quite clear.
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Recent News From URME |
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Press Release Source: Uranium Energy Corp
Tuesday June 12, 9:00 am ET
Uranium Energy Corp Appoints Joshua Leftwich as Environmental Manager
and Doug Norris as Vice President of Engineering
The Company's Team Now Includes Experts That Were Integral to the Environmental, Permitting and Engineering of the Recently-Opened Alta Mesa ISR Uranium Mine in Texas
AUSTIN, TEXAS--(MARKET WIRE)--Jun 12, 2007 -- Uranium Energy Corp (OTC BB:URME.OB - News)(Frankfurt:U6Z.F - News)(Berlin:U6Z.BE - News) announces the appointment of Joshua Leftwich as Environmental Manager. Mr. Leftwich will be responsible for all permitting activities at the Company's 100% owned Goliad Project in South Texas, where production is forecast to begin by the third quarter of 2009. Mr. Leftwich joins the Company's technical team that is already pre-eminent in the uranium mining and exploration sector.
Joshua Leftwich received his BSc in Renewable Resources from the Texas A&M University, as well as his certifications in numerous safety and safety training courses. His practical experience includes comprehensive management of the environmental components of dozens of large engineering projects.
Most recently, Mr. Leftwich was the Manager of Environmental Health and Safety for Mestena Uranium LLC, at their Alta Mesa ISR uranium mine, which began production in 2006, and which is located less than 150 miles from the Company's Goliad Project. At Alta Mesa, he managed all aspects of environmental, health, safety, radiation safety, training and compliance, throughout the mine's design, construction, commissioning and operational phases. He was responsible for the mine's simultaneous compliance with 3 state and 3 federal regulatory agencies; he was Mestena Uranium's chief liaison with these bodies, and was in daily communication with them. These same agencies are regulating the Goliad Project's exploration and development activities at present. Mr. Leftwich's experience at Alta Mesa will be directly transferable to Uranium Energy Corp.
The Company also announces that Mr. Doug Norris has been promoted to Vice President of Engineering, from Engineering Manager. Mr. Norris is a professional engineer with twenty years experience designing and constructing uranium mining facilities. Having held senior engineering, as well as operational positions for uranium producers Rio Algom (now BHP Billiton) and Power Resources (now Cameco), Mr. Norris has been responsible for all phases of mine development, from the grass roots, through to operations management.
Mr. Norris was integral to the development of US uranium mines, Smith Ranch, Alta Mesa and the Highland, all ISR mines. Doug Norris is a Registered Professional Engineer, chartered in the state of Oklahoma. He received his BSc in Chemical Engineering from Louisiana State University. Mr. Norris has also been ISO certified to prepare health and safety risk analyses and mitigation techniques during the plant design, construction and operational phases.
You May View The Entire Release HERE
Press Release Source: Uranium Energy Corp
Tuesday April 10, 9:00 am ET
Uranium Energy Corp to Acquire Additional Past-Producing Uranium
and Vanadium Mines on the Colorado Plateau
Acquisition Expands Company's Holdings Contiguous To US Department of Energy Uranium Reserve
AUSTIN, TEXAS--(MARKET WIRE)--Apr 10, 2007 -- Uranium Energy Corp (OTC BB:URME.OB - News)(Frankfurt:U6Z.F - News)(Berlin:U6Z.BE - News) announces that it has entered into an agreement to acquire approximately 5,000 acres in the Uravan Mineral Belt of the Colorado Plateau, in the states of Colorado and Utah. This acquisition compliments the Company's existing properties in this significant uranium- and vanadium-producing region.
The Uravan Mineral Belt is the oldest uranium mining area in the United States. This geological trend arcs across the west central Colorado counties of Mesa, Montrose and San Miguel, and into northeastern Utah. Both uranium ores averaging 0.25% and vanadium ores averaging 1.7% are produced in the region from sandstone deposits, primarily in the Salt Wash Member of the Morrison Formation.
This property was the subject of significant uranium exploration, and includes the sites of several past-producing uranium and vanadium mines. Some of the formerly-producing uranium mines within the property boundary include the Sandy, Babe Ruth, Bald Eagle, Fawn Springs #5, and Teapot Dome mines. The aggregate production from these mines was over 400,000 pounds of uranium, and nearly 2.4 million pounds of vanadium. Grades of production in each case were close to the average for the mineral belt.
The sites of the historical production are in close proximity to Uranium Energy Corp's existing properties, which are also the sites of historically-producing mines, and share mineral trends with those former mines. For example, the Babe Ruth Mine is 4 miles east of the Company's Raven Mine Project in Colorado. One area of the property is also contiguous to Cotter Corporation's large open pit and decline located on the US Department of Energy Uranium Reserve.
A preliminary geological field assessment of all the properties was conducted last week by Company geologists, and was positive. The potential for development of uranium and vanadium resources has been indicated. Based on the assessment, certain areas have been given exploration priority. The Company is also pursuing the acquisition of additional uranium production and exploration data covering the property, with data for certain target areas being prioritized. It is anticipated that the historic uranium resource estimates will be available upon closing, which is expected to occur within 30 days. Drill permitting will be initiated immediately following the closing, with a view to carrying out delineation and step-out drilling.
You May View The Entire Release HERE
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Financial Highlights For Uranium Energy Corp. |
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To view the latest investor presentation in PDF format: Click Here
State of Inc.: NV
Fiscal Year End: 12/31
Recent Trade: $3.45 (7/17/07)
Avg Vol: 247,498 (90-day)
Market Cap: $129 M
Sector: Basic Materials
Industry: Industrial Metals & Minerals
Uranium Energy is a fully reporting company.
To view the Company's filings on SEC web site, Click Here

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TO CONTACT URANIUM ENERGY |
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Uranium Energy
Tel: (512) 828-6980 - Fax: (512) 233-2531
9801 Anderson Mill Road, Suite 230, Austin TX 78750
Investor Relations
Tel: (604) 682-9775 - Fax: (604) 682-3591
Email: info@uraniumenergy.com
Website: http://www.uraniumenergy.com
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