UEC reports 32,000 pounds of uranium produced in Q3 while holding inventory amid weak prices and rising costs.
Uranium Energy Corp (UEC) launched production at Burke Hollow in South Texas, calling it the largest U.S. greenfield in-situ recovery uranium project in over a decade. The company produced 32,000 pounds of uranium concentrate in Q3 but faced higher unit costs due to regulatory delays and fixed-cost pressures.
Management expects costs to decline as output ramps up at Burke Hollow and Wyoming’s Christensen Ranch. UEC ended the quarter with $794 million in liquid assets and no debt, opting to hold uranium inventory rather than sell in a weak price environment.
Executives highlighted progress toward a vertically integrated U.S. uranium platform, including mining, processing, and conversion initiatives.