Uranium Energy is pleased to announce that the Texas Commission on Environmental Quality (TCEQ) has issued a Radioactive Material License (RML) to UEC for the Company’s South Texas Goliad ISR Project. The issuance of the RML marks the conclusion of the state-level permitting. The Company now has all of the required permits to begin construction at the site, and the procurement of materials and initial wellfield development will commence shortly.
President and CEO Amir Adnani stated, “Management is pleased to report the completion of this major milestone, and to initiate the early steps in the construction process. When operational, the Goliad project is anticipated to increase the Company’s production in South Texas substantially. We are grateful to TCEQ for its thorough review and issuance of this final authorization.”
As announced in previous press releases, an aquifer exemption is required before uranium recovery activities can be initiated. Aquifer exemptions are issued jointly by the regional EPA and the State (TCEQ). TCEQ granted UEC an aquifer exemption earlier this year and filed a request for EPA’s concurrence on May 27, 2011. With the regional EPA’s concurrence, UEC can initiate uranium recovery operations at the site.
About the Goliad In-Situ Recovery (ISR) Project
The Goliad ISR project is one of the Company’s four uranium projects (also referred to as satellite projects) in South Texas and is located 40 miles east of the Company’s Hobson ISR processing facility. The facility at Hobson forms the basis of the Company’s regional operating strategy in the South Texas Uranium Belt and processes uranium-loaded resins from satellite projects into a final product commonly known as yellowcake or U3O8.
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