Construction at site now accelerating.
Goliad production along with Palangana's output to be processed at the
Hobson processing plant.
Goliad production to greatly increase throughput of U3O8 at the Hobson plant.
CORPUS CHRISTI, TX, Dec. 5, 2012 /CNW/ - Uranium Energy Corp. (NYSE MKT:
UEC, the "Company") is pleased to announce that the final authorization
has been granted for production at its Goliad ISR Project in South
Texas. As announced in previous press releases, the Company received
all of the required authorizations from the Texas Commission on
Environmental Quality ("TCEQ"), including an Aquifer Exemption ("AE"),
and has been awaiting AE concurrence from EPA Region 6. In accordance
with regulatory procedure, the EPA reviews AE applications after a
Primacy State, such as Texas, has issued a mine permit and AE. EPA
Region 6 has now completed its review and has issued its concurrence.
Amir Adnani, President and CEO, stated, "We are very pleased to have
received this final authorization for initiating production at Goliad.
Our geological and engineering teams have worked diligently toward
achieving this major milestone and are to be truly commended. We are
grateful to the EPA for its thorough reviews and for issuing this final
concurrence. The Company's near-term plan is to complete construction
at the first production area at Goliad and to greatly increase the
throughput of uranium at our centralized Hobson processing plant."
The facility at Hobson is the foundation of the Company's regional
hub-and-spoke operating strategy in the South Texas Uranium Belt, and
processes uranium-loaded resins from satellite projects into the final
product known as yellowcake or U3O8.
About Uranium Energy Corp
Uranium Energy Corp is a U.S.-based uranium production, development and
exploration company operating North America's newest emerging 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 mine, which has recently expanded its
initial production, and the Goliad in-situ recovery project, which is
now fully permitted and in construction. 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 MKT: UEC
Frankfurt Stock Exchange Symbol: U6Z
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
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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,
labor 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 news 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.
SOURCE: Uranium Energy Corp
For further information:
Contact North America: Investor Relations, Uranium Energy Corp:
Toll Free: (866) 748-1030
Fax: (361) 888-5041