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UEC Shifts Focus to Developments, Slows Output at Palangana in Texas
Sep. 06, 2013 12:05PM PST
Company NewsWorld Nuclear News reported that Uranium Energy Corp (UEC) will be reducing output at the Texas-based Palangana mine in order to focus its efforts on developing the nearby Goliad and Burke Hollow projects.
World Nuclear News reported that Uranium Energy Corp (UEC) will be reducing output at the Texas-based Palangana mine in order to focus its efforts on developing the nearby Goliad and Burke Hollow projects.
UEC has said that it will be prioritizing capital expenditures to advance the two near-term production projects in South Texas.
Development of the nearby Goliad and Burke Hollow projects is to continue, mainly thanks to a $20 million credit facility secured by UEC in late July. The company said that as a result of the loan, it is “well-funded to continue to advance its Goliad project while having greater financial flexibility to make progress at its Burke Hollow project.”
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