Business
Uranium Energy Files Fiscal 2023 Annual Report - Another Transformative Year with Record Revenues, Accretive North American Acquisitions, Production Ready in the USA, Debt Free and 100% Unhedged
Highlights of Fiscal 2023 and balance sheet update as of September 28, 2023: Recorded revenue of $163.95 million from spot market sales of 3,150,000 pounds of u
About this update from Uranium Energy Corp.
[{"type":"text","content":" Highlights of Fiscal 2023 and balance sheet update as of September 28, 2023: Recorded revenue of $163.95 million from spot market sales of 3,150,000 pounds of uranium inventory realizing a gross profit of $49.60 million for the fiscal year ended July 31, 2023. Fiscal 2023 weighted average sales price was $52.05 per pound U3O8 versus an average spot price of approximately $51.24 per pound over the period. Proceeds from realized gains materially reduced capital requirements for accretive acquisitions. Completed $340.0 million in acquisitions to create the largest diversified North American focused portfolio. UEC's attributable resources now total 226.2 million pounds U3O8 in the Measured and Indicated Categories and 102.7 million pounds U3O8 in the Inferred category across all its projects(*), cementing UEC's status as one of the largest and diversified North American focused uranium companies. Proudly supplied uranium to the United States Department of Energy to establish the Strategic Uranium Reserve with the sale of 300,000 pounds of U3O8 for $17.85 million. Established UEC as one of the largest resource and land holders in Canada's Athabasca Basin with the successful acquisitions of UEX Corp., the world-class Roughrider Uranium Project and a portfolio of exploration projects from Rio Tinto. Completed preparations required to resume extraction/production at our recently acquired Christensen Ranch ISR Project and advanced our Wyoming hub and spoke operations. Key infrastructure, including wellfields and a satellite ion exchange plant, has been refurbished and upgraded to facilitate a fast restart of operations. Physical portfolio of North American warehoused uranium as of September 28, 2023 consists of 1.5 million pounds of U3O8 remaining to be received by UEC at an average cost of $48.09 per pound of U3O8 with various delivery dates through December 2025. Current inventory as of September 28, 2023 stands at 466,000 pounds at an average cost of $34.17 per pound of U3O8. Completed and filed the largest S-K 1300 uranium resources technical report summary in the United States combining UEC's Wyoming holdings for 66.2 million pounds of U3O8 Measured and Indicated and 15.1 million pounds of U3O8 in the Inferred category(*). Completed and filed our inaugural sustainability report continuing the Com...