Each one in plain English, with the numbers worked through for a shareholder.
8 Nov 2024resource reserve update▲ GoodMajor
An initial economic assessment valued UEC's Roughrider project at $946 million post-tax net present value, with UEC's CEO framing the result as validating the 2022 decision to buy the project from Rio Tinto for $150 million.
UEC's fiscal 2024 annual report confirmed it had successfully restarted uranium production at Christensen Ranch and the Irigaray processing plant in Wyoming - completing the restart effort flagged in July 2023 - while advancing Texas production plans and the new Roughrider North discovery; attributable resources grew to 230.0 million pounds measured-and-indicated.
Exploration drilling 850 metres northeast of the main Roughrider deposit - using new geophysical survey technology for the first time on the project - discovered high-grade uranium mineralization in a new area UEC is calling Roughrider North.
An updated S-K 1300 resource report nearly tripled Burke Hollow's measured-and-indicated uranium resource, from 2.3 million to 6.2 million pounds, lifting UEC's combined Texas Hub and Spoke resources to about 13 million pounds measured-and-indicated.
New drilling at Roughrider found high-grade uranium in a vein near the existing East Zone deposit, and a metallurgical sampling program was completed to support future economic studies.
UEC's fiscal 2023 annual report showed its first full year of meaningful revenue - $163.95 million from selling 3.15 million pounds of stockpiled uranium at an average $52.05 per pound - alongside $340 million spent completing the UEX and Roughrider acquisitions and attributable resources reaching 226.2 million pounds measured-and-indicated.
UEC advanced delineation drilling at Burke Hollow, establishing a second production area in Texas, and completed additional development drilling at its past-producing Palangana project.
UEC filed its first full resource update for the Roughrider project since acquiring it from Rio Tinto: 27.8 million pounds indicated at 3.25% U3O8 and 36.0 million pounds inferred at 4.55% U3O8, based on 665 historic drill holes.
UEC filed an S-K 1300 resource update for its Workman Creek project in Arizona; combined with the nearby Anderson project, UEC now controls over 32 million pounds of measured-and-indicated uranium resources in the state.
Follow-up drilling at Christie Lake's newly discovered Sakura zone hit another high-grade intercept (7.90% eU3O8 over 14.3 metres), extending the zone's footprint.
UEC disclosed its second Saskatchewan resource since the UEX merger: the wholly owned Horseshoe-Raven project, with 37.4 million pounds of indicated uranium.
Drilling at UEC's Christie Lake project in Saskatchewan discovered a new high-grade zone, with one hole grading 5.42% eU3O8 over 15.6 metres - notable given the project sits along the same geological trend as McArthur River, the world's largest high-grade uranium mine.
UEC disclosed its first Saskatchewan resource since acquiring UEX Corporation: the Shea Creek project, a joint venture in which UEC holds a 49.1% interest alongside operator Orano Canada, holds a combined 95.6 million pounds of high-grade uranium (indicated grades over 1.49% U3O8).
UEC filed additional S-K 1300 resource updates for four smaller deposits (Charlie, Clarkson Hill, Nine Mile, Red Rim) within its Wyoming ISR Hub and Spoke platform.
UEC filed its first S-K 1300 resource report for the dormant Yuty project in Paraguay, based on 543 drill holes, signaling continued interest in the asset five years after its last update.
UEC re-filed its Anderson project resource under the new S-K 1300 standard - the largest uranium deposit in Arizona, at about 32 million pounds indicated.
UEC combined its Reno Creek project with the Uranium One Americas assets it acquired in 2021 into a single Wyoming ISR "Hub and Spoke" platform, disclosing under the new S-K 1300 standard the largest such uranium resource reported in the U.S. to date - nearly 62 million pounds measured and indicated across seven satellite projects, four fully permitted.
UEC re-filed its Reno Creek mineral resource under the SEC's new S-K 1300 reporting standard, which replaced the older Canadian NI 43-101 format; the underlying resource figures are unchanged.
UEC's 2019 Burke Hollow drilling campaign found additional mineralization and expanded the project's production area, including discovery of a new mineralized trend.
A 132-hole drill campaign produced UEC's first full resource estimate for Burke Hollow: 7.09 million pounds of inferred uranium at 0.088% grade, establishing the South Texas project as a real resource base rather than just an exploration target.
An independent resource estimate for UEC's newly acquired Alto Parana project in Paraguay found 4.94 billion tonnes grading 7.41% titanium oxide, ranking it among the highest-grade and largest known titanium deposits in the world.
UEC extended its 2017 Burke Hollow drilling campaign into September, having completed 94 of a planned 100 holes with over a third of results exceeding its resource cutoff grade.
A completed drill campaign at UEC's Burke Hollow project in South Texas extended a key mineralized trend from 1.7 to 3.7 miles, with leach recovery testing above 90% - an early sign the deposit could support in-situ recovery mining.
UEC's Yuty uranium project in Paraguay received government approval advancing it from the exploration phase into the exploitation phase, a step toward eventual production.