Uranium Energy Corp reported no revenue and a net loss of $19.7 million for Q3 2024 ended April 30. The company restarted uranium extraction at its Christensen Ranch Mine in Wyoming, with first extraction expected in August 2024. UEC purchased 995,000 pounds of uranium concentrates for $57 million during the quarter as part of its physical uranium program.The company raised $160.2 million from equity offerings during the nine months ended April 30, strengthening its balance sheet. As of April 30, UEC had $87.7 million in cash and $141.2 million in working capital. Management believes existing resources are sufficient to fund planned operations for the next 12 months.UEC noted improving uranium market fundamentals, with spot prices reaching $107/lb in February before settling at $90/lb on April 30. The company sees growing demand from nuclear power expansion globally, while supply remains constrained. UEC is positioning itself as a low-cost North American uranium supplier as the market transitions from inventory-driven to production-driven.

Uranium Energy Corp reported no revenue and a net loss of $19.7 million for Q3 2024 ended April 30. The company restarted uranium extraction at its Christensen Ranch Mine in Wyoming, with first extraction expected in August 2024. UEC purchased 995,000 pounds of uranium concentrates for $57 million during the quarter as part of its physical uranium program.The company raised $160.2 million from equity offerings during the nine months ended April 30, strengthening its balance sheet. As of April 30, UEC had $87.7 million in cash and $141.2 million in working capital. Management believes existing resources are sufficient to fund planned operations for the next 12 months.UEC noted improving uranium market fundamentals, with spot prices reaching $107/lb in February before settling at $90/lb on April 30. The company sees growing demand from nuclear power expansion globally, while supply remains constrained. UEC is positioning itself as a low-cost North American uranium supplier as the market transitions from inventory-driven to production-driven.