Some may say that looking for crumbs isn’t a profitable venture. Others may disagree. Using modern mining techniques, many have found renewed successes in the Comstock silver mines of Colorado and the US National Park System’s diamond field of Arkansas. Now, as Nuclear power reclaims its place in the power generation arena, Uranium is finding favor.
Uranium Energy Corporation, a junior resource Company, is working toward becoming a near term US uranium extraction company. Currently, the company’s property acquisition programs operate in several US Western States including: Wyoming, Utah, Colorado Arizona, New Mexico and Texas. The projects in these states are in various states of development.
Uranium Energy Corporation operates from a position of education in a mining sector that had its heyday, went out of favor, and has now returned to favor. Its well seasoned Uranium management team capitalizes on historical drilling efforts to redress past Uranium sites through more modern techniques and data stored with the US Government. The company began its efforts by obtaining rights to drilling test data and reassessing results. Current results have proven to show higher purity and concentration rates at many of the Company’s chosen past/present drill sites.
One of the company’s most recent re-discoveries is from the company’s Goliad, TX property. Through a Canadian filing, the company reports that reserve estimates at the site can be moved upward from previous estimates of 5.2 million pounds to 5.4 million pounds. The filing goes on to indicate that depth indications are shallow and further aquifer testing, feasibility for extraction and permitting is advisable. Following the company’s methodology has proven viable at this property and at others.
From a general standpoint, this success and methodology was derived from a previous test drilling program where 487 drill holes were bored and then adding additional holes for a total of 1,086 drill holes. Generally, one might say that the company is capitalizing on another’s subsurface/surface based theories of existing Uranium and taking it to fruition.
Taking advantage of another’s subsurface/surface observations is the reality of the situation, but not exactly the whole view that the company takes. The data that the company begins with is not data that comes from the wonderings of a lone miner with Geiger counter in hand. Data is used from companies such as Exxon/Mobile and Conoco Phillips. How the data is mixed and supplemented is where the successes are found. In a marketplace that is having a renewed importance in a world looking for energy answers, Uranium Energy Corporation is going that one step further. Picking up the Uranium banner where others had left it and working the mine may yet lead to “hot” profits.
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