Uranium Energy Corp is pleased to announce the completion of its third uranium sale. A total of 150,000 pounds of U3O8 were sold at $50 per pound for gross proceeds of $7.52 million, bringing total sales for the fiscal year ended July 31, 2012 to 270,000 pounds. With this latest sale, the Company will end Fiscal 2012 with total revenue generated from uranium sales of $13.76 million.
Amir Adnani, CEO and President, stated: “We are pleased to complete the third uranium sale for this fiscal year. This transaction increases cash flow from operations and further strengthens the Company’s balance sheet, two of management’s priorities. The U.S., the world’s largest consumer of uranium, imports over 95% of the uranium needed to meet domestic consumption. UEC, as a domestic producer, is well positioned to serve as a supplier to U.S. utilities.”
