Business
Uranium Energy Reports Quarterly Results for Period Ended October 31, 2022, Fiscal 2023 Q1
Completed two accretive acquisitions, realized profit from Physical Portfolio, and strengthened balance sheet: Industry leading growth with two accretive acquis
About this update from Uranium Energy Corp.
[{"type":"text","content":" Completed two accretive acquisitions, realized profit from Physical Portfolio, and strengthened balance sheet: Industry leading growth with two accretive acquisitions of UEX Corporation (\"UEX\") and Rio Tinto's world-class, development-stage Roughrider Project. Acquired UEX for $192.7 million primarily in UEC stock which is expected to double total resources in all categories in the world-class, politically stable and uranium mining friendly jurisdiction of Canada, leading to the creation of the largest diversified North American focused uranium company. Welcomed Rio Tinto as a new shareholder with the acquisition of the Roughrider Project for total consideration of $146.2 million comprised of $82.1 million cash and $64.1 million in UEC stock. Expanded physical uranium purchases to date and contracted deliveries to 5.8 million pounds of North American warehoused uranium (\"Physical Portfolio\"), resulting in an average cost of ~$38 per pound with various delivery dates through December 2025. Generated revenues of $57.2 million from spot market sales of 1,150,000 pounds at a weighted average price of $49.75 per pound, realized gross profit of $13.8 million for the quarter ended Oct 31, 2022. No debt and $110.5 million of cash and liquid assets, comprised of $52.9 million in cash and physical uranium including 866,000 pounds of inventory, and $57.6 million in equity holdings as of December 16, 2022. CORPUS CHRISTI, Texas, Dec. 19, 2022 /CNW/ - Uranium Energy Corp (NYSE American: UEC) the \"Company\" or \"UEC\") is pleased to report, in accordance with NYSE American requirements, the filing of the Company's quarterly report on Form 10-Q for the quarter ended October 31, 2022 with the U.S. Securities and Exchange Commission (the \"SEC\"). This Form 10-Q filing, which includes the Company's interim condensed consolidated financial statements, related notes thereto and management's discussion and analysis, is available for viewing on the SEC's website at http://www.sec.gov/edgar.shtml or on the Company's website at www.uraniumenergy.com. Amir Adnani, CEO and President stated: \"This most recent quarter validates UEC's growth strategy and our strengths and unique abilities as a pure-play, 100% unhedged uranium supplier. Supported by our strong balance sheet and Physical Portfolio we are advancing a two-...