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Uranium Energy Announces Restart of ISR Uranium Production in Wyoming
CASPER, Wyo., Aug. 13, 2024 /CNW/ - Uranium Energy Corp (NYSE American: UEC) (the "Company" or "UEC") is pleased to announce the successful startup of uranium p
About this update from Uranium Energy Corp.
[{"type":"text","content":" CASPER, Wyo., Aug. 13, 2024 /CNW/ - Uranium Energy Corp (NYSE American: UEC) (the \"Company\" or \"UEC\") is pleased to announce the successful startup of uranium production at its past-producing Christensen Ranch In-Situ Recovery (\"ISR\") operations in Wyoming. Production commenced in the previously operated Mine Unit 10 at Christensen Ranch on August 6th. To date, uranium concentrations in the initial production patterns are meeting expectations and are anticipated to rise in the coming weeks. All planned startup milestones, including the hiring and training of the initial restart workforce for both the Irigaray Central Processing Plant (\"CPP\") and Christensen Ranch, have been achieved to ensure a successful ramp-up of uranium production. Approximately 40% of the total workforce is from Johnson County, with other employees originating from Campbell, Converse, Carbon, Laramie and Natrona Counties in Wyoming. The first shipment of yellowcake is anticipated to occur in November or December 2024. This coincides with the Company's fiscal Q2 ending January 31, 2025. Uranium recovered from Christensen Ranch will be processed at the Irigaray CPP, located approximately 15 miles northwest of Christensen Ranch. Irigaray has a current licensed capacity of 2.5 million pounds U3O8 per year, with a license amendment currently under regulatory review that is expected to increase capacity to 4.0 million pounds annually. The Irigaray CPP is the hub, central to four fully permitted ISR projects in the Powder River Basin of Wyoming, including Christensen Ranch. Donna Wichers, Vice President of Wyoming Operations, stated: \"The Christensen Ranch ISR Mine has successfully restarted and we are in full growth mode with initial recoveries from Mine Unit 10 to be followed with Mine Units 7 and 8 in the coming months. Additionally, we have drilled, cased and completed 55 wellfield patterns to extend Mine Unit 10 that will commence production in 2025. Further production growth is being developed with delineation drilling and monitor well planning at Mine Unit 11. We have filled all our initial personnel requirements, resulting in a total workforce of 40 employees. Hiring is expected to continue into 2025 with an additional 20 positions to meet plans for future wellfield development and expanded production...