Analysts Report Positively on UEC�s Latest News
Two analysts have issued updating reports about UEC in response to the Company�s news release on August 30th. This release confirmed that construction at UEC�s Palangana in-situ recovery project is on-track, on-schedule and on-budget for initial production starting in November this year.
Here are some brief highlights from these new reports by independent industry professionals:
Dr. Geordie Mark, uranium analyst with Haywood Securities, noted the following Company highlights:
�Event: 40 Injection & Production Wells Completed at Palangana ISR Uranium Project�
�Uranium Energy continues to be on track with its development of the satellite ion-exchange facility operation and wellfield development at the 100%-owned, fully permitted, planned ISR (in situ recovery) site Palangana, in South Texas�
�Progression toward production at Palangana appears to be on track, and in our view, UEC will bring the project into initial production by mid-Q4�10.�
Alka Singh, Senior Metals & Mining Analyst with Rodman & Renshaw LLC in New York, said the following:
�Construction at Palangana is on-track for production starting in November�
- An updated resource statement for Palangana
- Salvo project update
- Permitting advances for Goliad which we expect to be in production in 2011
- Additional expansion with highly prospective new leases
�Our Outperform rating on the shares is based on: 1) our positive view of uranium price in the medium to long-term 2) the technical expertise of the operating team (the members of which have built almost every ISR facility in Texas) and 3) the strategy of the company to consolidate attractive uranium projects under one umbrella and to bring a new uranium mining company into production.�
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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.