Uraniumletter International sets $5.50/share price target on UEC
Dear Shareholder,
In May, The Uraniumletter International, an information and advice bulletin for uranium resource investments, published a 12 page Special Report on UEC, stating:
�Our next share price objective is US$ 5.50�
�The United States has 104 nuclear reactors, representing 23% of the worldwide total of 436 reactors, generating more than 100 million megawatts of electricity each or approximately 20% of the country�s energy supply. The US is by far the largest consumer of uranium in the world. In 2009, there was only 3.75 million pounds of uranium production in the US, 14% lower than the 3.9 million pounds in 2008, whereas US utilities purchased 53.4 million pounds in 2008. Out of this, 600,000 pounds were from US producers, 37.2 million pounds from foreign suppliers and the remaining from various US producers and traders. Consequently, close to 93% of US annual uranium demand is met through foreign supplies and secondary resources�
�ISR mining represents the future of US uranium mining. All existing US uranium production is by way of ISR mining. According to the World Nuclear Association, approximately 20% of global uranium production is by ISR mining because it has several advantages over conventional mining, including minimal environmental impact and lower capital cost. The US holds 4th position globally for known recoverable resources of U3O8�
�UEC controls one of the largest uranium exploration and development information libraries in the US, which contain over 5.0 million feet of drilling data, covering every state in the US, Australia, and Canada. The Company has a project portfolio of 34 properties of 6 US States totaling 39,224 net mineral acres�
�With the acquisition of 100% ownership of the South Texas Mining Venture, which includes the fully licensed and permitted Hobson Processing Plant and the fully permitted Palangana Uranium Plant, which is expected to begin production in the fourth quarter of 2010, UEC will become the next new uranium producer in the US�
�UEC is well financed with a current cash position of over US$ 26 million, and the Company having no debt.�
Please call us at 1-866-748-1030 if you have questions or email info@uraniumenergy.com
Thank you,
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.
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