Uranium Energy Will Restart Uranium Production At Its Christensen Ranch In-situ Recovery Operations In Wyoming. The Recovered Uranium Will Be Processed At Irigaray Central Processing Plant With Current Licensed Capacity Of 2.5M Pounds U3O8 Per Year
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Uranium Energy Corp (UEC) is set to restart uranium production at its Christensen Ranch in Wyoming, with the first production expected in August. The uranium will be processed at the Irigaray Central Processing Plant, which has a capacity of 2.5 million pounds of U3O8 per year. The production will be funded by existing cash and the company plans to sell the uranium at current spot market prices, which were $106 per pound as of January 15, 2024.
January 16, 2024 | 11:33 am
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Uranium Energy Corp is restarting uranium production at its Wyoming facility, with sales expected at current high spot market prices, positively impacting revenue.
The restart of production at Christensen Ranch is a significant operational development for UEC, indicating potential increased revenue from sales at robust spot market prices. The funding from existing cash reserves suggests financial stability and operational readiness. The company's decision to remain unhedged allows it to benefit fully from current high uranium prices, which is likely to be viewed positively by investors, potentially leading to a short-term increase in stock price.
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