Uranerz Energy Corporation

Published : May 08th, 2013

Provides Corporate Update to Shareholders

( 0 vote, 0/5 ) Print article
  Article Comments Comment this article Rating Follow Company  
0
Send
0
comment
 
Home Careers News Projects About Us Investors Contact
Wednesday, May 08, 2013

NEWS RELEASE
Uranerz Provides Corporate Update to Shareholders

Casper, Wyoming, May 8, 2013 -- Uranerz Energy Corporation ("Uranerz" or the "Company") (NYSE MKT and TSX: URZ; Frankfurt: U9E) is pleased to provide an update on Company activities.

The Company's primary focus over the past year has been on construction of our processing facility and installation of the monitor, injection and recovery wells for in-situ recovery operations at Nichols Ranch. The initial wellfield is now substantially completed. The processing facility is over 80% completed with tanks, pumps, ion exchange columns, sand filters and ancillary equipment fully installed. Installation of the process piping, electrical controls and the control room is ongoing. Talented field and operations personnel have been employed and are developing the standard operating procedures and carrying out start-up training.

In late October 2012 the Wyoming Department of Environmental Quality, Water Quality Division, issued the deep disposal well permit for Uranerz' Nichols Ranch ISR Uranium Project. Receipt of the deep disposal well permit concluded a long, but ultimately successful, effort to obtain all of the regulatory permits and licenses needed to construct and operate an ISR uranium facility in Wyoming.

The Company expects the Nichols Ranch ISR Uranium Project to recover uranium later in 2013. Regulatory milestones are being pursued in order to meet start-up requirements following completion of the processing facility and wellfield construction activities. The drilling pads for the required two deep disposal wells have been completed and drilling is ready to begin. The Nichols Ranch ISR Uranium Project is licensed for a recovery level of up to two million pounds of uranium per year with initial annual recovery targeted for 600,000 to 800,000 pounds after ramp-up. Nichols Ranch will serve as a platform for the potential future development of the Company's other Powder River Basin properties with possible enhanced economics for adjacent and satellite projects.

As previously announced, the Company's application to the Wyoming Business Council for a $20,000,000 loan under the Wyoming Industrial Development Revenue Bond Program has recently received the support of the State of Wyoming's Governor, Attorney General and State Treasurer, subject to customary closing conditions. The loan is expected to carry an annual interest rate of 5.75% and be repayable over seven years. Uranerz is now working with the State administrators to complete the documentation for the closing of this financing.

The United States continues to be the largest market in the world for uranium with the largest nuclear fleet of any country with 104 reactors. U.S. uranium mines produce approximately four million pounds of U3O8 per year, but annual uranium consumption far exceeds that, at over 50 million pounds. Management of the Company considers those market dynamics to be favorable to Uranerz. Earlier this year the Company signed a second long-term uranium sales contract with Exelon, the operator of the largest nuclear fleet in the U.S., for the sale of uranium over a five year period commencing in 2016, at defined prices adjustable for inflation. As previously announced, the Company had already entered into one sales contract with Exelon and has another in place with another utility, for a portion of its planned production.

Uranerz recently restated its 2012 Financial Statements to expense all the Nichols Ranch ISR Uranium Project costs previously capitalized. The Company will continue to expense remaining expenditures to comply with U.S. GAAP as it applies to exploration stage companies.

Further, the amended Annual Report on Form 10-K/A for the fiscal year ended December 31, 2012, filed with the Securities Exchange Commission on April 29, 2013, contained a going concern qualification from its independent registered public accounting firm. This announcement is made in accordance with NYSE MKT Company Guide which requires disclosure of receipt of an audit opinion containing a going concern qualification.

In 2010 the Company implemented a Shareholder Rights Plan to safeguard our shareholders' interests by discouraging undervalued or unfair takeovers of the Company. In accordance with its terms, the Plan is required to be reconfirmed by shareholders at our 2013 Annual General Meeting. The Board and Management are recommending that shareholders reconfirm the Plan, which would extend it for a further three years, for the same reasons as adoption of the Plan was originally recommended. The Shareholder Rights Plan is designed to ensure that, in the context of a bid for control of the Company, all shareholders have an equal opportunity to participate in the bid, and the Board has sufficient time to explore and develop alternatives to maximize shareholder value.

The Company will hold its annual general meeting of shareholders on Wednesday, July 10, 2013 at 9:30 am at the Casper Petroleum Club, 1301 Wilkins Circle, Casper, WY 82601. The Company's proxy statement will be available on its web site at: www.uranerz.com.

Mr. Kurtis Brown, the Company's Senior Vice President, Geology, Development & Safety, is a "qualified person" as defined by Canadian National Instrument 43-101. He has reviewed the technical disclosure related to the Company's results that are provided in this news release.

About Uranerz
The Nichols Ranch ISR Uranium Project is Uranerz' first ISR mine and is currently under construction. ISR, or in-situ recovery, is a mining process that uses a leaching solution to extract uranium from sandstone-hosted uranium deposits; it is the generally accepted extraction technology used in the Powder River Basin area of Wyoming. Uranerz controls a large strategic land position in the central Powder River Basin. The Company's management team has specialized expertise in the ISR uranium mining method and a record of licensing, constructing, and operating ISR uranium projects. The Company has entered into long-term uranium sales contracts for a portion of its planned production with Exelon and one other of the largest nuclear utilities in the country.

Further Information
For further information, please contact Derek Iwanaka, Manager of Investor Relations at 1-800-689-1659 or by email at investor@uranerz.com. Alternatively, please refer to the Company's website at www.uranerz.com, review the Company's filings with the Securities and Exchange Commission at www.sec.gov, or visit the Company's profile on SEDAR at www.sedar.com.

Forward-looking Statements
This press release may contain or refer to "forward-looking information" and "forward-looking statements" within the meaning of applicable United States and Canadian securities laws, which may include, but are not limited to, statements with respect to: the Company's expectation as to when its Nichols Ranch ISR Uranium Project will commence production of uranium, the Company's expectation that it will secure a loan through the Wyoming Industrial Development Revenue Bond Program, the Company's expectations regarding the terms of such loan, the Company's target for initial production levels at Nichols Ranch, the Company's predictions as to the market for its product, and all other statements which describe future activities or express intentions, plans, targets or expectations and all statements in the future tense. Such forward-looking statements reflect our current views with respect to future events and are subject to certain risks, uncertainties and assumptions, including, the risks and uncertainties outlined in our most recent financial statements and reports and registration statement filed with the SEC (available at www.sec.gov) and with Canadian securities administrators (available at www.sedar.com). Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those anticipated, believed, estimated or expected. We do not undertake to update forward-looking statements, except as required by law.


You can also view this News Release on our website at:
http://www.uranerz.com/s/NewsReleases.asp?ReportID=583666


This email was sent to:
.com

www.uranerz.com

� Uranerz Energy Corporation
Corporate Headquarters

1701 East E Street, P.O. Box 50850
Casper, WY 82605-0850 USA

Tel: 307.265.8900
Fax: 307.265.8904
Email: info@uranerz.com
Administrative & Investor Relations Office

Suite 1410-800 West Pender Street
Vancouver, BC Canada V6C 2V6

Tel: 604.689.1659
Fax: 604.689.1722
Email: investor@uranerz.com
Data and Statistics for these countries : Canada | All
Gold and Silver Prices for these countries : Canada | All

Uranerz Energy Corporation

DEVELOPMENT STAGE
CODE : URZ
ISIN : US91688T1043
Follow and Invest
Add to watch list Add to your portfolio Add or edit a note
Add Alert Add to Watchlists Add to Portfolio Add Note
ProfileMarket
Indicators
VALUE :
Projects & res.
Press
releases
Annual
report
RISK :
Asset profile
Contact Cpy

Uranerz Energy is a uranium development stage company based in United states of america.

Uranerz Energy holds various exploration projects in Canada.

Its main asset in development is WYOMING POWDER RIVER in USA and its main exploration properties are COCHRANE RIVER, ARKOSE PROPERTY, NICHOLS RANCH, SOUTH DOUGHSTICK and DENISON in Canada.

Uranerz Energy is listed in Canada, in Germany and in United States of America. Its market capitalisation is US$ 100.7 millions as of today (€ 88.5 millions).

Its stock quote reached its highest recent level on December 31, 2007 at US$ 7.65, and its lowest recent point on December 12, 2008 at US$ 0.40.

Uranerz Energy has 95 910 000 shares outstanding.

Your feedback is appreciated, please leave a comment or rate this article.
Rate : Average note :0 (0 vote) View Top rated
 
Annual reports of Uranerz Energy Corporation
2009 Annual Report
Annual Report 2007
2007 Annual report
Financings of Uranerz Energy Corporation
7/25/2014Closes US$12 Million Financing
7/17/2014Announces US$10 Million Financing
9/6/2013Closes US$10 Million Bought Deal Financing
8/27/2013Announces US$10 Million Bought Deal Financing
6/7/2013Completes US$6 Million Short-term Note Financing
5/2/2013Wyoming Officials Support Uranerz Financing Under Industrial...
3/2/2011Treasury Increases to $47 Million from Exercised Warrants
3/19/2008Announces US$9.6 Million Private Placement and US$13.1 Milli...
Financials of Uranerz Energy Corporation
11/12/2013Announces Third Quarter 2013 Financial Results
8/10/2013Announces Second Quarter 2013 Financial Results
5/10/2013Announces First Quarter 2013 Financial Results
3/28/2013Announces 2012 Year End Financial Results
8/9/2012Announces Second Quarter 2012 Financial Results
5/9/2012Announces First Quarter 2012 Financial Results
3/15/2012Announces Fourth Quarter and 2011 Financial Results
8/10/2011Announces Second Quarter Financial Results
Project news of Uranerz Energy Corporation
1/9/2014(Nichols Ranch)Provides Update on its Nichols Ranch ISR Uranium Project
8/28/2012Reports Production Well and Development Update
3/29/2012Reports Production Well and Development Update
1/18/2012Reports Production Well Installation Update
12/19/2011Provides ISR Uranium Mine Construction Update
8/2/2011(Nichols Ranch)Commences ISR Uranium Mine Construction
7/20/2011(Nichols Ranch)Receives Final NRC Approval
5/13/2011(Wyoming Powder River)Initiates 2011 Powder River Basin Drilling Program
1/24/2011(Nichols Ranch)NRC Determines No Major Environmental Impacts Preclude Licen...
4/20/2010(Wyoming Powder River)Initiates 2010 Powder River Basin Drilling Program
3/1/2010(South Doughstick)Provides Update on NI 43-101 Uranium Resources for PRB Prope...
1/28/2010Reports NI 43-101 Uranium Resources for Doughstick Propertie...
12/9/2009(Nichols Ranch)Receives Draft EIS for Nichols Ranch ISR Uranium Project
7/10/2009(Wyoming Powder River)Drilling Update on Powder River Basin Projects
6/9/2009(Nichols Ranch)Reports NI 43-101 Uranium Resources Update on Nichols Ranch
1/21/2009(Wyoming Powder River)Reports 2008 Drilling Summary on Powder River Basin Projects
12/19/2008Reports NI 43-101 Uranium Resources on West North-Butte Sate...
11/3/2008(Wyoming Powder River)Drilling Update on Powder River Basin Projects
9/12/2008(Khavtsal)Announces Sale of Mongolian Property Interests
8/11/2008(Wyoming Powder River)Receives Positive Preliminary Assessment on Nichols Ranch Ur...
7/9/2008(Wyoming Powder River)Provides Drilling Update on Arkose Mining Venture
5/2/2008(Wyoming Powder River)Reports Independent NI 43-101 Uranium Resources on Hank Prop...
2/5/2008Provides Final 2007 Drilling Results and Plans for 2008 Prog...
Corporate news of Uranerz Energy Corporation
6/26/2015America's 'Least-Loved' Green Energy Source
4/23/2015BHP Reports Solid Q3 Operating Results, Shares Up - Analyst ...
3/16/2015Uranerz Announces Fourth Quarter and 2014 Year End Financial...
3/16/2015Uranerz Announces Fourth Quarter and 2014 Year End Financial...
3/12/2015Uranerz Energy Corporation Analyst Coverage Continued: Techn...
3/10/2015Uranerz Announces New Mine Manager at Nichols Ranch
3/6/2015Uranerz Announces New Mine Manager at Nichols Ranch
2/18/2015Uranerz Announces Mine Wellfield Expansion Activities at Nic...
2/18/2015Uranerz Announces Mine Wellfield Expansion Activities at Nic...
1/15/2015Law Offices of Marc S. Henzel Announces Securities Class Act...
1/14/2015Uranerz Energy Corporation Stockholders Encouraged to Contac...
1/9/2015SHAREHOLDER ALERT: Brower Piven Launches An Investigation In...
1/8/2015SHAREHOLDER ALERT: Brodsky & Smith, LLC Announces Investigat...
1/8/2015Lifshitz & Miller Law Firm Announces Investigation of DaVita...
1/8/2015SHAREHOLDER ALERT: Pomerantz LLP Investigates Claims That th...
1/7/2015Update to Energy Fuels/Uranerz Joint Webcast
1/7/2015Energy Fuels and Uranerz to Host Conference Call and Webcast...
1/7/2015Energy Fuels and Uranerz to Host Conference Call and Webcast...
1/5/2015Energy Fuels and Uranerz to Create the Largest Integrated Ur...
11/10/2014Uranerz Announces Third Quarter 2014 Financial Results
12/3/2013Closes $20 million Wyoming State Loan
12/2/2013Paul Goranson Joins Uranerz as President
7/25/2013Provides Corporate Update
5/8/2013Provides Corporate Update to Shareholders
2/15/2013to Adjust Accounting Treatment of Certain Construction Costs
10/23/2012Receives Deep Disposal Well Permit
8/1/2012' George Hartman to Retire
6/21/2012Discovers New Uranium Trend in the Powder River Basin
3/5/2012Letter to Shareholders
11/30/2011Signs Processing Agreement with Cameco
6/28/2011Included in the Russell Family of Indexes
5/3/2011Letter to Shareholders
12/1/2010Enters Into Financing Agreement With Haywood
6/2/2010Corrects Misinformation
3/24/2010Initiates Permit Applications for Third Powder River Basin U...
11/13/2009Announces Drilling Update on Powder River Basin Projects
10/27/2009Announces Closing of Financing
10/23/2009Receives Air Quality Permit for ISR Mine Construction
10/15/2009Unit Offering of up to US$20 Million
8/17/2009Signs Long-Term Contract for Sale of Uranium
7/23/2009Signs Contract with Exelon for Sale of Uranium
7/1/2009Included in the Russell Family of Indexes
8/25/2008Mining License Application Accepted for Detailed Review by W...
4/24/2008ISR Mining License Application Accepted for Detailed Review ...
4/15/2008Closes US$23.6 Million Financing Including Strategic Investm...
3/17/2008Uranerz Initiates Drilling on Arkose Property
Comments closed
 
Latest comment posted for this article
Be the first to comment
Add your comment
AMEX (URZ)TORONTO (URZ.TO)
1.05-5.41%1.44+10.77%
AMEX
US$ 1.05
06/18 16:00 -0.060
-5.41%
Prev close Open
1.11 1.11
Low High
1.05 1.14
Year l/h YTD var.
 -  -
52 week l/h 52 week var.
- -  1.05 -%
Volume 1 month var.
1,627,483 -%
24hGold TrendPower© : -38
Produces
Develops Uranium
Explores for Uranium
 
 
 
Analyse
Interactive chart Add to compare
Interactive
chart
Print Compare Export
Last updated on : 12/10/2010
You must be logged in to use the porfolio and watchlists (free)
Top Newsreleases
MOST READ
Annual variation
DateVariationHighLow
 
5 years chart
 
3 months chart
 
3 months volume chart
 
 
Mining Company News
Plymouth Minerals LTDPLH.AX
Plymouth Minerals Intersects Further High Grade Potash in Drilling at Banio Potash Project - Plannin
AU$ 0.12-8.00%Trend Power :
Santos(Ngas-Oil)STO.AX
announces expected non-cash impairment
AU$ 7.66-0.71%Trend Power :
Oceana Gold(Au)OGC.AX
RELEASES NEW TECHNICAL REPORT FOR THE HAILE GOLD MINE
AU$ 2.20+0.00%Trend Power :
Western Areas NL(Au-Ni-Pl)WSA.AX
Advance Notice - Full Year Results Conference Call
AU$ 3.86+0.00%Trend Power :
Canadian Zinc(Ag-Au-Cu)CZN.TO
Reports Financial Results for Q2 and Provides Project Updates
CA$ 0.12+4.55%Trend Power :
Stornoway Diamond(Gems-Au-Ur)SWY.TO
Second Quarter Results
CA$ 0.02+100.00%Trend Power :
McEwen Mining(Cu-Le-Zn)MUX
TO ACQUIRE BLACK FOX FROM PRIMERO=C2=A0
US$ 12.16-0.81%Trend Power :
Rentech(Coal-Ngas)RTK
Rentech Announces Results for Second Quarter 2017
US$ 0.20-12.28%Trend Power :
KEFIKEFI.L
Reduced Funding Requirement
GBX 0.52-0.19%Trend Power :
Lupaka Gold Corp.LPK.V
Lupaka Gold Receives First Tranche Under Amended Invicta Financing Agreement
CA$ 0.06+0.00%Trend Power :
Imperial(Ag-Au-Cu)III.TO
Closes Bridge Loan Financing
CA$ 2.71+2.65%Trend Power :
Guyana Goldfields(Cu-Zn-Pa)GUY.TO
Reports Second Quarter 2017 Results and Maintains Production Guidance
CA$ 1.84+0.00%Trend Power :
Lundin Mining(Ag-Au-Cu)LUN.TO
d Share Capital and Voting Rights for Lundin Mining
CA$ 15.99-1.48%Trend Power :
Canarc Res.(Au)CCM.TO
Canarc Reports High Grade Gold in Surface Rock Samples at Fondaway Canyon, Nevada
CA$ 0.24+4.26%Trend Power :
Havilah(Cu-Le-Zn)HAV.AX
Q A April 2017 Quarterly Report
AU$ 0.22+2.38%Trend Power :
Uranium Res.(Ur)URRE
Commences Lithium Exploration Drilling at the Columbus Basin Project
US$ 6.80-2.86%Trend Power :
Platinum Group Metals(Au-Cu-Gems)PTM.TO
Platinum Group Metals Ltd. Operational and Strategic Process ...
CA$ 1.90+1.06%Trend Power :
Devon Energy(Ngas-Oil)DVN
Announces $340 Million of Non-Core Asset Sales
US$ 52.97+0.49%Trend Power :
Precision Drilling(Oil)PD-UN.TO
Announces 2017Second Quarter Financial Results
CA$ 8.66-0.35%Trend Power :
Terramin(Ag-Au-Cu)TZN.AX
2nd Quarter Report
AU$ 0.04+5.56%Trend Power :