NYSE American: UEC
CORPUS CHRISTI, TX,
July 15, 2019 /CNW/ - Uranium
Energy Corp (NYSE American: UEC, the "Company" or "UEC") is pleased
to provide comments on President Trump's "Memorandum on the Effect
of Uranium Imports on National Security" which was issued after the
market close on July 12,
UEC Chairman and former U.S. Energy Secretary, Spencer Abraham commented: "The Trump
Administration is to be commended for elevating the topic of U.S.
uranium mining to the top of our national security and energy
security agenda. At a time when we have bi-partisan support for the
clean, baseload energy that nuclear power provides, it is crucial
that the domestic supply chain is available for over 50% of our
nation's carbon free electricity generation. We will certainly make
ourselves available to assist the newly formed U.S. Nuclear Fuel
Working Group in any way possible."
President and CEO, Amir Adnani
stated: "The White House released the complete, much-anticipated
decision late Friday evening. We are very pleased with
President Trump's decision in establishing the U.S. Nuclear Fuel
Working Group, co-chaired by White House National Security Advisor
John Bolton and National Economic
Policy Advisor Larry Kudlow.
The President has instructed the Working Group to develop
recommendations for reviving and expanding domestic nuclear fuel
production, including uranium mining, and to submit their findings
within 90 days."
Adnani continued: "Ultimately, we remain even more positive and
excited about the improving fundamentals in the uranium market,
with a growing global deficit between primary production and
reactor requirements. We fully expect demand to continue to
grow with the world's need for the highly reliable, carbon-free,
safe energy that nuclear power provides. UEC's business plan,
regardless of whatever policy actions emerge from the Working
Group, will be to continue developing and advancing low-cost,
environmentally friendly in-situ recovery (ISR) projects, that can
be competitive in the global market."
President Trump issued the Memorandum in response to the U.S.
Department of Commerce Section 232 investigation of the U.S.
nuclear fuel industry. In the Memorandum, the President
stated that; "I agree with the Secretary [of Commerce] that
the United States uranium industry
faces significant challenges in producing uranium domestically and
that this is an issue of national security."
To access the full Presidential Memoranda, please visit the
following link from the White House website:
About Uranium Energy Corp
Uranium Energy Corp is a U.S.-based uranium mining and
exploration company. In South Texas, the Company's
hub-and-spoke operations are anchored by the fully-licensed Hobson
Processing Facility which is central to the Palangana, Burke Hollow
and Goliad ISR projects. In Wyoming, UEC controls the Reno
Creek project which is the largest permitted, pre-construction ISR
uranium project in the U.S. Additionally, the Company
controls a pipeline of uranium projects in Arizona, New
Mexico and Paraguay, a
uranium/vanadium project in Colorado and one of the highest-grade and
largest undeveloped Ferro-Titanium deposits in the world, located
in Paraguay. 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.
Stock Exchange Information:
NYSE American: UEC
+Frankfurt Stock Exchange Symbol: U6Z
Safe Harbor Statement
Except for the statements of historical fact contained herein,
the information presented in this letter constitutes
"forward-looking statements" as such term is used in applicable
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These statements relate to analyses and other information that are
based on forecasts of future results, estimates of amounts not yet
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or future events or performance are not statements of historical
fact and should be viewed as "forward-looking statements". Such
forward looking statements involve known and unknown risks,
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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. 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
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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.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy securities.
SOURCE Uranium Energy Corp