Uranium Energy CEO: Uranium Prices Headed superior With Demand

Uranium Energy Corp. (UEC) Chief Executive Amir Adnani suppose prices for the radioactive metal to continue rising on tighter supply over the next little years amid growing demand from the nuclear-power sector. "Mine production for uranium is essentially only enough to meet two thirds of present demand," or about 15 million pounds a year, Chief Executive Amir Adnani said. "Over the after that two to three years, you are going to have a very stretched uranium market on the supply side," which is pushing prices higher. On the spot market, uranium is going for about $60 a pound, a almost 40% gain since lows seen in the past six months, Adnani said in interview Friday.

In the post Cold War era, secondary source of the metal, such as from decommissioning Russian nuclear weapons, became a important supply for the power industry. "That run out in 2013" Adnani said. The U.S. is the major consumer of uranium, with 104 nuclear power reactors that need 55 million pounds a year. But with the country's uranium production at just 3.5 million pounds, mainly of the required supply is imported. "There is more confidence on foreign uranium than there is on foreign oil," Adnani said. New nuclear growth is stinted in the U.S. by lengthy licensing processes and undecided desire to spend billions due to low prices for natural gas, an extra fuel source that tends to drive market prices for power.

However, nuclear power generation is rising at a fast clip overseas, which is driving uranium demand. China is build 25 reactors while the United Arab Emirates is also building nuclear invention. The Austin, Texas base company is in a place to cash in on these trends since it began production at its first uranium mine this week. The Palangana project in South Texas, which is predictable to produce 400,000 pounds of uranium in 2011, is "the only new uranium mine to go into manufacture in the world this year," Adnani said. Uranium Energy will also bring online one additional mine at its Goliad project, also in Texas, next year.

Uranium Energy Corp. (UEC) Moves Toward primary Uranium Production

When U.S. based exploration and development company Uranium Energy Corp issued their earlier mid-year investor report, the company clearly outlined the progress newly made and where they hope to be by the coming year. In early June, UEC initiated wellfield development and creation at Palangana production area #1 in South Texas, with 110 injection and production wells to be drilled, cased, and completed. Concurrently, they also in progress drilling the disposal well for this first wellfield, which is now complete. The equipment, tanks, and pipes for the ability are already being installed. The site will feed the UEC’s recently acquired Hobson processing plant, which is nearby, fully licensed, and ready to process uranium.

The Hobson central dispensation plant is prepared to process the first truckloads of resins into uranium oxide, with the first deliveries expected as early as November. UEC also announced its first NI 43-101-capable resource at Palangana. The independent Technical Report gives for a resource of 2.2 million pounds U3O8 in all categories. Based on very successful tool throughout the year on several zones at Palangana, UEC is confident of expanding this defined resource before the end of this year. In addition to the main progress at Palangana and Hobson, UEC has received the crucial disposal well permits for the Goliad ISR project in Goliad County, Texas. The final production permits for Goliad are predictable later this year.

There is believed to be 6.9 million pounds of in-situ uranium in all category of resource at Goliad. This is in addition to 1.3 million pounds at the company’s Nichols project and a 1.5 million pound historical reserve at the company’s Salvo project, both in Texas. All of these ISR uranium projects are in close immediacy to the company’s Hobson processing plant, part of UEC’s regional operating strategy in Texas. UEC is well support for all of this, with zero debt, and approximately $22 million in cash. With Palangana now scheduled to commence in-situ revival later this year, UEC will become one of only eight uranium producers in the world, and the only company in North America, in a point to start major near-term production of uranium.

Uranium Energy Corporation (UEC) Links Growth to Top Management Team

Uranium Energy Corp., a U.S. uranium exploration and development company using a giant uranium exploration database to goal properties in the Southwest, draws upon the diverse talents of a remarkable management team to take advantage of the burgeoning require for uranium. Mr. Adnani, since January of 2005, has a strong entrepreneurial background. He founded Blender Media, a Vancouver based company providing planned marketing and financial communications services to public companies and investor in mineral exploration, mining, and energy.

It was named one of the fastest rising companies in Canada. Earlier he co-founded Fort Sun Investments, a leading strategic marketing firm, providing services to little and mid-cap public companies. Mr. Anthony is internationally recognized specialist in the uranium industry, has been a professional engineer for 36 years. He is celebrated for being a pioneer in the development of the ISR process for uranium removal, a less costly and less environmentally damaging technique, and has been involved with every famous ISR uranium mine in the world.

He was a senior officer and director of the public company Uranium Resources, responsible for all technological aspects of mine development, and has provided technical services to many other companies. He is a sought-after speaker on uranium and connected issues. Mr. Obara has been a financial and administrative advisor to a number of private and public companies. He has served as the CFO and director of two publicly held investigate and technology companies, and was involved in their restructuring, organizing, and management.