Uranium energy corp establishes physical uranium initiative and provides balance sheet update

Nyse american symbol – uec highlights and balance sheet update as of march 15, 2021: $65.8 million in cash and equity holdings; establishing a physical uranium inventory to take advantage of spot purchases below most industry production costs, adding additional asset value to the balance sheet; uranium inventory will provide greater marketing flexibility for utilities, while freeing up uec's domestic mine production for the u.s. uranium reserve, and other u.s. origin specific opportunities; entered into agreements totaling $10.9 million to purchase 400,000 pounds of uranium concentrates at converdyn in metropolis, illinois at a volume weighted average price of $27.29 per lb. u3o8;  market value of a 19.5% equity stake in uranium royalty corp. (urc: tsx-v) increased to $34.3 million following urc's announced acquisition of royalties on the world-class macarthur river and cigar lake uranium mines; realized gross proceeds of $30 million from the recent completion of the company's at-the-market equity program, improving financial flexibility and strengthening the balance sheet; reduced debt from $18 million to $10 million under the company's current credit facility; and shares outstanding: 214,442,838.
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