Analysts Report on Uranium Energy's Latest News
Three analysts have issued updating reports about UEC in response to the Company�s news release on March 15th which announced strong drilling results at the Palangana ISR Project in South Texas. The Company reported an Independent NI 43-101 Resource Estimate for Palangana on February 23rd and these most recent drilling results from Palangana indicate that the uranium resource may increase substantially.
Here are some brief highlights and insights from these new reports by independent industry professionals:
Rob Chang from Octagon Capital said:
�Uranium Energy has released some very promising results from the first 87 holes of a 215-hole drilling program at its Palangana In-Situ Recovery (�ISR�) project located in South Texas�
�Highlights of the results include 18.5 feet grading 0.636% U3O8 and 10.5 feet grading 0.848% U3O8 from the �CC Brine Trend�, as well as 24.5 feet grading 0.341% U3O8 from the Jemison Fence Trend.�
Alka Singh, Senior Metals & Mining Analyst with Rodman & Renshaw LLC in New York, said the following:
�Exploration success should drive the stock higher�
�Approximately 50% of the holes had grade-thickness (GT) greater than 0.3�UEC�s engineers estimate that zones with GT greater than 0.3 could be considered as producible�19 out of the 87 holes had intercepts with GT greater than 1�
�UEC is also evaluating the former Union Carbide Corp. well fields at Palangana for potentially remaining resources� The data from four out of nine holes indicate that a significant amount of uranium could be left in the well fields. This encouraging data is currently being reviewed and analyzed by the UEC team.�
Dr. Geordie Mark, uranium analyst with Haywood Securities,noted the following Company highlights:
�Impact: Positive, high-grade results show potential to add to the Palangana resource inventory�
�These new results show potential for Uranium Energy to add exploitable resources to their inventory at Palangana. Uranium Energy expects the results of the current 215-hole program to be employed in an updated NI 43-101 compliant resource estimate to be delivered by mid-2010.�
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Uranium Energy Corp.
About Uranium Energy Corp
Uranium Energy Corp (NYSE-AMEX: UEC) is a U.S.-based exploration and development company with the objective of near-term uranium production in the U.S. The Company�s fully licensed and permitted Hobson processing facility is central to all of its projects in South Texas, including the Palangana is-situ recovery project, which is fully permitted, and the Goliad in-situ recovery project, which is in the final stages of mine permitting for production. 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. The Company is well financed to execute on its key programs.