Uranium Energy (NYSE American: UEC), a U.S.-based uranium mining and exploration company, has released its fiscal year 2023 report, for the period ended July 31, 2023. The report shows another transformative year for the company with record revenues and accretive North American acquisitions. Highlights of the report include revenue of $163.95 million from spot market sales of more than three million pounds of uranium inventory, realizing a gross profit of $49.6 million for the year; the completion of $340 million in acquisitions to create the largest diversified North American-focused portfolio; attributable resources totaling approximately 226.2 million pounds U3O8 in the Measured and Indicated Categories and 102.7 million pounds U3O8 in the Inferred category across all its projects, making UEC one of the largest and diversified North American-focused uranium companies; being a uranium supplier to the United States Department of Energy to assist in establishing the Strategic Uranium Reserve with the sale of 300,000 pounds of U3O8 for $17.85 million; becoming one of the largest resource and land holders in Canada’s Athabasca Basin with the successful acquisitions of UEX Corp., the world-class Roughrider Uranium Project and a portfolio of exploration projects from Rio Tinto; and finishing required preparation to resume extraction/production at the company’s recently acquired Christensen Ranch ISR Project and to advance its Wyoming hub and spoke operations.
In addition, UEC completed and filed the largest S-K 1300 uranium resources technical report summary in the United States while also completing and filing its first-ever sustainability report. The company also increased its Hobson Processing facility licensed capacity fourfold as the largest uranium plant in Texas. The report noted that the company has $192.3 million in cash and liquid assets comprised of $57.6 million in cash, $100.4 million in equity holdings and $34.3 million in physical uranium inventories; the company also has no debt. “Fiscal 2023 proved to be a year of significant achievements in executing on our strategy and building the premier North American-focused uranium company,” said Uranium Energy CEO and president Amir Adnani in the press release. “We continued to make accretive acquisitions and advance our projects with resource expansions and extraction/production restart programs. Our strategy is aimed at a robust uranium supply from the stable and secure jurisdictions of the U.S. and Canada, with near-term U.S. ISR production and a pipeline of high-grade Canadian projects with exceptional growth potential.”
To view the full press release, visit https://ibn.fm/OXqgo
About Uranium Energy Corp.
Uranium Energy Corp is the fastest-growing supplier of the fuel for green-energy transition to a low-carbon future. UEC is the largest, diversified North American-focused uranium company, advancing the next generation of low-cost, environmentally friendly, in-situ recovery (“ISR”) mining uranium projects in the United States and high-grade conventional projects in Canada. The company has two production-ready ISR hub-and-spoke platforms in south Texas and Wyoming. These two production platforms are anchored by fully operational central processing plants and served by seven U.S. ISR uranium projects with all their major permits in place. Additionally, UEC has diversified uranium holdings including: (1) one of the largest physical uranium portfolios of North American-warehoused U3O8; (2) a major equity stake in Uranium Royalty Corp., the only royalty company in the sector; and (3) a Western Hemisphere pipeline of resource-stage uranium projects. The company’s operations are managed by professionals with decades of hands-on experience in the key facets of uranium exploration, development and mining. For more information about the company, visit www.UraniumEnergy.com.
NOTE TO INVESTORS: The latest news and updates relating to UEC are available in the company’s newsroom at https://ibn.fm/UEC
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