Uranium Energy (NYSE American: UEC), a U.S.-based uranium mining and exploration company, is reporting on its strategic plan to resume operations at its Wyoming-based Christensen Ranch in-situ recovery (“ISR”) Project. According to the announcement, UCE has been focused on moving Christensen Ranch out of care and maintenance and toward resuming production since the beginning of the year. The company noted that it has completed several necessary steps, including electrical testing of variable frequency drives, booster pumps, heaters, wellfield recovery pumps, satellite plant pumps and module buildings; testing of programmable logic controllers, electronics, auto-valves and communications software for wellfield and plant operations as well as leak-detection systems; reattachment of wellfield piping in module buildings; conversion of lighting in plants and wellfield module buildings to energy efficient LED; and the assessment and repair of lines, piping, ion exchange (“IX”) columns and valves in the satellite plant. In addition, the company has wrapped up IX resin cleaning and testing, along with mechanical integrity testing of all wells to be used in resumption of operations.
Finally, trunklines have been pressurized and leak checked, and preparation of wellfield patterns for operational testing has been completed. Key “mine unit” work has been finished and a series of operational tests has also been completed. “With demand increasing for uranium supply from stable geopolitical jurisdictions and U.S. national security objectives, we foresee an increasingly urgent need for domestic uranium supply,” said Uranium Energy president and CEO Amir Adnani in the press release. “The fundamental drivers of supply and demand, including pending legislation to ban Russian uranium imports to the United States, are translating into rising uranium prices that have accelerated UEC’s production-readiness program. In that regard, we have been working towards restarting production to fulfill the need for domestic uranium and are pleased to provide an update on activities related to resuming operations at the company’s Christensen Ranch ISR uranium operations in Johnson County, Wyoming .”
To view the full press release, visit https://ibn.fm/vn2yS
About Uranium Energy Corp.
Uranium Energy Corp is the fastest-growing supplier of the fuel for green-energy transition to a low-carbon future. UEC is the largest, diversified North American-focused uranium company, advancing the next generation of low-cost, environmentally friendly, in-situ recovery (“ISR”) mining uranium projects in the United States and high-grade conventional projects in Canada. The company has two production-ready ISR hub-and-spoke platforms in south Texas and Wyoming. These two production platforms are anchored by fully operational central processing plants and served by seven U.S. ISR uranium projects with all their major permits in place. Additionally, UEC has diversified uranium holdings including: (1) one of the largest physical uranium portfolios of North American-warehoused U3O8; (2) a major equity stake in Uranium Royalty Corp., the only royalty company in the sector; and (3) a pipeline of resource-stage uranium projects. The company’s operations are managed by professionals with decades of hands-on experience in the key facets of uranium exploration, development and mining. For more information about the company, visit www.UraniumEnergy.com.
NOTE TO INVESTORS: The latest news and updates relating to UEC are available in the company’s newsroom at https://ibn.fm/UEC
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