#United States #Wyoming #Irigaray Plant #Nuclear Energy #Uranium Energy

Uranium Energy Corp Reaches Key Production Milestone

Uranium Energy Corp (NYSE American: UEC) has achieved a significant operational milestone with the successful production of dried and drummed uranium concentrates at the Irigaray Central Processing Plant in Wyoming. This accomplishment comes just six months into the company's phased ramp-up of operations, following initial production from its In-Situ Recovery (ISR) operations at the Christensen Ranch site.

Significant Progress in Uranium Production

During this milestone phase, the produced uranium concentrates will be transported to the ConverDyn Conversion Facility located in Metropolis, Illinois. This step represents a culmination of several years of meticulous planning and hard work by the UEC team, showcasing their commitment and expertise in the field.

Amir Adnani, President and CEO of UEC, expressed his excitement in reaching this key milestone on schedule. He noted that this achievement demonstrates UEC’s advanced capabilities and its potential for sustainable growth within the expanding nuclear energy sector. Adnani highlighted that UEC's fully permitted ISR operations present a cost-effective foundation for growth.

Strengthening America's Nuclear Energy Supply

As a debt-free and unhedged uranium producer, UEC is in a strong position to scale production in response to market conditions. This flexibility allows UEC to efficiently meet the growing domestic demand for uranium. He pointed out that energy security remains a national priority, especially with the White House's recognition of uranium as a crucial national asset. This milestone signifies a meaningful stride in enhancing America's nuclear fuel supply chain.

Adnani further emphasized UEC’s competitive edge, suggesting that constrained availability of U.S.-sourced uranium could drive premium pricing. This positions UEC advantageously given its status as one of the largest and fastest-growing uranium companies in the country.

Overview of Uranium Energy Corp

Uranium Energy Corp is recognized as America’s largest and swiftly growing uranium supplier, dedicated to producing safe, clean, and reliable nuclear energy. The company is pioneering next-generation low-cost, environmentally friendly ISR uranium mining projects throughout the United States while also engaging in high-grade conventional projects in Canada.

With three hub-and-spoke platforms located in South Texas and Wyoming, UEC boasts a combined licensed production capacity of 12.1 million pounds of U3O8 (uranium hexoxide) annually. These platforms are anchored by licensed Central Processing Plants (CPPs) that support multiple U.S. ISR uranium projects.

In August 2024, UEC commenced ISR operations at the Christensen Ranch project in Wyoming, significantly contributing to its production capabilities by sending uranium-loaded resin to the Irigaray CPP.

Additionally, UEC's portfolio is well-diversified, including a conventional pipeline of high-grade Canadian projects centered around the prestigious Roughrider project, alongside one of the largest physical uranium portfolios located within the U.S.

Conclusion

UEC's path forward is managed by a team of experts with extensive nuclear fuel industry experience, covering critical fields such as uranium exploration, development, mining, and production. As the company continues to expand its footprint in the uranium sector, it remains focused on producing uranium needed for a sustainable and clean energy future.