UPDATE: Uranium Energy Releases FQ1 Production and Financial Highlights - Shares Tumble 7%

By MidnightTrader.com Staff,

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Uranium Energy Corp ( UEC ) shares are down 7.1% following the company's release of financial and production highlights from its FQ1, which ended on October 31, 2012.

Production highlights of the quarter include: the completion of permitting of The Goliad ISR Project for production, and the completion of extensive drilling campaigns on the Burke Hollow and Channen Projects in South Texas.

Financial highlights included the sale of 50,000 pounds of U3O8 at $43 per pound for gross proceeds of $2.2 million, with a cash cost per pound sold of $26 excluding royalties. Cash cost per pound increased this quarter due primarily to lower production volume.

UEC is trading at $2.37 in a 52-week range of $1.75 - $4.44. Shares have fallen 25% in the last 12 months.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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This article appears in: Investing Commodities
Referenced Stocks: UEC

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