DGAP-News: Uranium Energy Corp Initiates Operations at Hobson Processing Facility in South Texas
(firmenpresse) - DGAP-News: Uranium Energy Corp. / Key word(s): Miscellaneous
Uranium Energy Corp Initiates Operations at Hobson Processing Facility
in South Texas
01.12.2010 / 14:15
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Uranium Energy Corp Initiates Operations at Hobson Processing Facility in
South Texas
- First shipment of uranium loaded resins from Palangana now received at
Hobson, processing has started
- First wellfield at Palangana ramping up production
Corpus Christi, TX - December 1, 2010 - Uranium Energy Corp (NYSE AMEX:
UEC, the 'Company') is pleased to announce that the Company has started the
processing of the first shipment of uranium-loaded resins at its Hobson
processing plant. This shipment and the start of processing follows the
Company's announcement on November 17, 2010 of the initial in-situ recovery
(ISR) of uranium at Palangana in South Texas. The shipment, received at the
Hobson plant on Sunday, November 28, consisted of 500 cubic feet of
uranium-loaded resins contained within one of the Company's two U.S.
Department of Transportation-approved tanker trailers specially built for
this purpose.
Harry Anthony, Chief Operating Officer, stated, 'Hobson is a
state-of-the-art processing facility now operating under the supervision of
experienced staff headed by VP Production Bob Underdown and Hobson
Superintendent Greg Kroll. We are confident of standard and secure
operations here. We will continue to ramp up production at the Palangana
ISR project and the Hobson processing facility over the ensuing weeks and
months.'
The process of converting uranium loaded resin beads to marketable
yellowcake (U3O8) at Hobson is as follows: stripping the uranium from the
resin beads using a salt solution, precipitating the yellowcake slurry from
the salt solution, filtering it from the remaining solution, then vacuum
drying and packaging the yellowcake into drums for delivery. For more
information on ISR mining, visit www.uraniumenergy.com and view the
animated video noted on the home page.
About Uranium Energy Corp
Uranium Energy Corp is a U.S.-based uranium production, development and
exploration company operating North America's newest uranium mine. The
Company's fully licensed and permitted Hobson processing facility is
central to all of its projects in South Texas, including the Palangana
in-situ recovery project, which has just initiated production, and the
Goliad in-situ recovery project which is in the final stages of mine
permitting for production. The Company's operations are managed by
professionals with a recognized profile for excellence in their industry, a
profile based on many decades of hands-on experience in the key facets of
uranium exploration, development and mining.
Contact North America: Investor Relations, Uranium Energy Corp:
Toll Free: (866) 748-1030
Fax: (361) 888-5041
E-mail: info(at)uraniumenergy.com
Stock Exchange Information:
NYSE-AMEX: UEC
Frankfurt Stock Exchange Symbol: U6Z
WKN: AØJDRR
ISN: US916896103
Safe Harbor Statement
Except for the statements of historical fact contained herein, the
information presented in this news release constitutes 'forward-looking
statements' as such term is used in applicable United States and Canadian
laws. These statements relate to analyses and other information that are
based on forecasts of future results, estimates of amounts not yet
determinable and assumptions of management. Any other statements that
express or involve discussions with respect to predictions, expectations,
beliefs, plans, projections, objectives, assumptions or future events or
performance (often, but not always, using words or phrases such as
'expects' or 'does not expect', 'is expected', 'anticipates' or 'does not
anticipate', 'plans, 'estimates' or 'intends', or stating that certain
actions, events or results 'may', 'could', 'would', 'might' or 'will' be
taken, occur or be achieved) are not statements of historical fact and
should be viewed as 'forward-looking statements'. Such forward looking
statements involve known and unknown risks, uncertainties and other factors
which may cause the actual results, performance or achievements of the
Company to be materially different from any future results, performance or
achievements expressed or implied by such forward-looking statements. Such
risks and other factors include, among others, the actual results of
exploration activities, variations in the underlying assumptions associated
with the estimation or realization of mineral resources, the availability
of capital to fund programs and the resulting dilution caused by the
raising of capital through the sale of shares, accidents, labour disputes
and other risks of the mining industry including, without limitation, those
associated with the environment, delays in obtaining governmental
approvals, permits or financing or in the completion of development or
construction activities, title disputes or claims limitations on insurance
coverage. Although the Company has attempted to identify important factors
that could cause actual actions, events or results to differ materially
from those described in forward-looking statements, there may be other
factors that cause actions, events or results not to be as anticipated,
estimated or intended. There can be no assurance that such statements will
prove to be accurate as actual results and future events could differ
materially from those anticipated in such statements. Accordingly, readers
should not place undue reliance on forward-looking statements contained in
this news release and in any document referred to in this news release.
Certain matters discussed in this news release and oral statements made
from time to time by representatives of the Company may constitute
forward-looking statements within the meaning of the Private Securities
Litigation Reform Act of 1995 and the Federal securities laws. Although the
Company believes that the expectations reflected in such forward-looking
statements are based upon reasonable assumptions, it can give no assurance
that its expectations will be achieved. Forward-looking information is
subject to certain risks, trends and uncertainties that could cause actual
results to differ materially from those projected. Many of these factors
are beyond the Company's ability to control or predict. Important factors
that may cause actual results to differ materially and that could impact
the Company and the statements contained in this news release can be found
in the Company's filings with the Securities and Exchange Commission. For
forward-looking statements in this new release, the Company claims the
protection of the safe harbor for forward-looking statements contained in
the Private Securities Litigation Reform Act of 1995. The Company assumes
no obligation to update or supplement any forward-looking statements
whether as a result of new information, future events or otherwise. 'This
press release shall not constitute an offer to sell or the solicitation of
an offer to buy securities. The securities offered and sold in the private
placement Offering have not been registered under the United States
Securities Act of 1933, as amended (the 'Securities Act'), or any state
securities laws, and may not be offered or sold in the United States absent
registration, or an applicable exemption from registration under the
Securities Act and applicable state securities laws.
End of Corporate News
01.12.2010 Dissemination of a Corporate News, transmitted by DGAP - a
company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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105157 01.12.2010
Datum: 01.12.2010 - 14:15 Uhr
Sprache: Deutsch
News-ID 32770
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