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.