https://www.miningweekly.com
Energy
Energy
energy

UEC's warehoused uranium inventory swells to 5Mlbs

21st April 2022

By: Mariaan Webb

Creamer Media Senior Deputy Editor Online

     

Font size: - +

NYSE American-listed Uranium Energy Corp (UEC) has expanded its physical uranium programme to five-million pounds of O3U8, having secured an additional 400 000 lb of US-warehoused uranium.

The company says its physical uranium programme represents an unrealised gain of more than $125-million, based on the current spot price published by TradeTech on April 19, at $63.25/lb.

"A year ago, UEC launched a physical uranium portfolio with 500 000 lb purchased at a uranium cost basis of less than $30/lb. The company has grown the size of our inventory over ten-fold to five-million pounds by making well-timed purchases near cycle lows that allow us to maintain a low-cost portfolio of about $38/lb with spot uranium now trading at over $63/lb,” said president and CEO Amir Adnani.

“We have also staged our deliveries to receive uranium as far out as December 2025, providing a low-cost stream of physical uranium as we enter this uranium bull market that shows a major structural supply deficit exceeding 215-million pounds by 2026."

UEC's US warehoused physical uranium programme is currently the biggest inventory position for a US-based uranium company.

Edited by Creamer Media Reporter

Comments

Showroom

Condra Cranes
Condra Cranes

ISO-certified Condra manufactures overhead cranes, portal cranes, cantilever cranes and crane components: hoists, drives, end-carriages, brakes and...

VISIT SHOWROOM 
Werner South Africa Pumps & Equipment (PTY) LTD
Werner South Africa Pumps & Equipment (PTY) LTD

For over 30 years, Werner South Africa Pumps & Equipment (PTY) LTD has been designing, manufacturing, supplying and maintaining specialist...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Magazine round up | 03 May 2024
Magazine round up | 03 May 2024
3rd May 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.139 0.173s - 89pq - 2rq
1:
1: United States
Subscribe Now
2: United States
2: