Uranium Energy Corp UEC

Metals & Mining Industrial Metals & Minerals

Uranium Energy Corp. is a uranium mining company. It advances its In-Situ Recovery (ISR) mining uranium projects in the United States and conventional projects in Canada. It offers two production ready ISR hub and spoke platforms in South Texas and Wyoming. These two production platforms are anchored by operational central processing plants and served by seven U.S. ISR uranium projects. Additionally, it has diversified uranium holdings, including uranium portfolios of North American warehoused U3O8; an equity stake in Uranium Royalty Corp., and a Western Hemisphere pipeline of resource stage uranium projects. The Texas Hub and Spoke Project includes Hobson Central Processing Plant (CPP), Burke Hollow, Goliad, Palangana, and Salvo. The Wyoming Asset Hub and Spoke In-Situ Recovery Project includes Christensen Ranch and Irigaray (Willow Creek), Moore Ranch, Ludeman, Allemand-Ross, and others. It also owns Sweetwater Plant, Red Desert Uranium Project and Green Mountain Uranium Project.

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Uranium Energy Corp

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Post by mangoeon Dec 22, 2024 3:20am

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Post# 36374035

😨Strike 3!✖️ You're out!🇺🇸👍

John Quakes

@quakes99 -

Strike 3! You're out! On 15 November #Russia banned the export of enriched #Uranium (EUP) to the #USA which has for decades relied on Russia for 20-25% of its #Nuclear reactor fuel needs.

On Friday, a 2nd shipment of EUP bound from Russia's port of St. Petersburg to the US was NOT loaded onto a ship bound for Baltimore. There's been well over a month in which an export license could have been granted by Russia to protect their export market on a one-time exception basis, but NO licenses have been granted.

That makes 2 US EUP shipments blocked along with Russia's Tenex declaring force majeure to cancel an EUP contract shipment via the US to Mexico's CFE for a March 2025 reactor refueling.

Do U think US Nuclear fuel buyers are getting the message that Russia's export ban is not "symbolic" but a direct threat to the continued operation of 20% of US #electricity generation and 50% of its carbon-free power?

As per the quoted post below Russia has said that they intend to sell that US-ordered EUP to their "friendly" allied Nuclear reactor customers, naming India, Iran and China.

Russian enrichers Tenex have a hole burning in their pocket now with a warehouse full of US-ordered EUP that it needs to sell ASAP. Watch for Tenex to do to Centrus, Constellation and other US fuel buyers what it has already done to Mexico's CFE... declare force majeure to cancel all future contracted shipments of EUP to the US until further notice.

China will be chomping at the bit to get its hands on those cylinders of EUP that Tenex needs to sell. They could take them as-is at far higher market prices than the US were going to pay under contracts signed during the bear market, allowing Tenex to score big profits as a result of the ban.

Russia can't continue to keep those US buyers living on "hope" that their EUP will ever get shipped out to them.

Time to give them the bad news so they can make alternative arrangements with western suppliers who will ask higher prices and for much larger quantities of U3O8 feedstock up front due to higher tails assay needed by western suppliers to get their urgent enrichment orders filled ASAP, imho.