Targeted Strategies for Today's Evolving Markets

MissionIR Blog

Lawsuit Against Uranium Energy Corp (UEC) Dismissed as Groundless Allegations

A local lawsuit filed this week in Victoria County, TX, against Uranium Energy Corp (UEC) was dropped based upon groundless allegations. The lawsuit, filed in the U.S. District Court by Goliad County and one landowner, alleged that Uranium Energy was violating the Safe Drinking Water Act in the areas it was drilling.

The Texas Railroad Commission, the state’s senior regulatory agency over uranium exploration, investigated the allegations in September 2007 and found them to be without merit. A quote from the original finding follows: “…the agency’s investigation of your complaint has not revealed any practice or activity at UEC’s Uranium Exploration Permit 123 that is out of compliance…We consider this investigation to be closed.”

Additionally, the state agency has inspected the Goliad County project on a monthly basis and found no violations. An agency hydrologist wrote to the County’s attorney that: “…from the available information that no ground-water contamination has occurred as a result of the drilling activities…[t]o date, the Commission’s investigation of your complaint has not revealed any practice or activity within the approved permit area that has adversely affected the wells identified in your complaint or the related aquifer, or is out of compliance with Texas Uranium Mining Regulations….”

The local lawsuit has not slowed Uranium Energy’s exploration of properties in Texas. The company has an experienced team of experts who are dedicated to meeting or exceeding all environmental standards. The team has continued to work on its current projects in Texas, all of which are approved by, and under the jurisdiction of, the Texas Railroad Commission.

Uranium Energy is a US-based resource company working to become a national near-term ISR uranium producer. Uranium Energy has the largest U.S. uranium exploration and development database, and uses it to target and acquire some of the most advanced uranium properties throughout Texas, Wyoming, Colorado, Utah, New Mexico, and Arizona.

Let us hear your thoughts below:

This entry was posted in Small Cap News. Bookmark the permalink.

Leave a Reply

Your email address will not be published. Required fields are marked *