Uranium Energy Corp (NYSE: UEC) can now officially be classified as a uranium producer, announcing this morning that it has successfully restarted production at the past-producing Christensen Ranch in-site recovery facility in Wyoming.
Production is said to have quietly begun last week on August 6 at Mine Unit 10 at the complex, with initial production meeting expectations in terms of uranium concentration, with grades expected to improve in the coming weeks. Further details on grade were not provided.
The Christensen Ranch ISR facility is the first spoke that will feed the Irigaray CPP, which is currently licensed to process 2.5 million pounds of U3O8 per year.
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“The Christensen Ranch ISR Mine has successfully restarted and we are in full growth mode with initial recoveries from Mine Unit 10 to be followed with Mine Units 7 and 8 in the coming months. Additionally, we have drilled, cased and completed 55 wellfield patterns to extend Mine Unit 10 that will commence production in 2025. Further production growth is being developed with delineation drilling and monitor well planning at Mine Unit 11,” commented Donna Wichers, VP of Wyoming operations for UEC.
The first shipment of yellowcake from the facility is currently expected to occur in November or December of this year.
Uranium Energy Corp last traded at $4.79 on the NYSE.
Information for this briefing was found via Sedar and the sources mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
