Burke Hollow Construction Has Been Completed

CORPUS CHRISTI, TX – Amir Adnani, President and CEO of Uranium Energy Corp, said, “This quarter we reached a significant milestone for UEC with completing the construction of Burke Hollow, the newest ISR uranium mine in the U.S. We are very proud of our team, many of whom have been involved in this project since its discovery in 2012.
We expanded our ISR production capacity in Wyoming and South Texas, which are awaiting final regulatory approvals. With the unprecedented growth in the sector, our industry is experiencing regulatory growing pains. This level of activity has not been seen in the U.S. in over fifteen years. A coordinated industry working group has been established to engage constructively with state regulators to support responsible and timely production expansion approvals. UEC is actively involved in advancing these collaborative efforts while maintaining our commitment to operational excellence and environmental stewardship.
In parallel, we ramped up efforts on feasibility, siting and licensing at United States Uranium Refining & Conversion Corp, positioning UEC to address the national security gap in America’s nuclear fuel supply chain. Our objective remains clear: to build the only vertically integrated U.S. nuclear fuel supply chain platform with uranium mining to domestic conversion capability.
During the quarter, we sold uranium at pricing over 25% of the quarterly average, which demonstrates the advantage of our unhedged approach to inventory management in a strengthening uranium market.
With $818 million in liquid assets(1) and no debt at the end of the quarter, UEC maintains one of the strongest balance sheets in the sector. Combined with the largest uranium resource base in the United States, we are uniquely positioned to scale production and respond quickly to evolving U.S. policy initiatives, including potential Section 232 remedies and long-term national security procurement requirements.”