Uranerz Delivers First Uranium from Nichols Ranch

Uranerz Energy Corp. (TSX:URZ,NYSEMKT:URZ) announced that it has delivered the first drums of uranium (as U3O8) from its Wyoming-based Nichols Ranch ISR uranium project.

As quoted in the press release:

The shipment of approximately 36,000 pounds was received at ConverDyn’s Metropolis Works Facility, located in Metropolis, Illinois, for subsequent transfer to one of the Company’s utility customers.

Uranerz signed its first long-term uranium sales agreement in 2009 with Exelon Generation Company, LLC, and signed its second sales agreement with another major U.S. utility later that same year. This delivery will satisfy a portion of Uranerz’ existing long-term sales contracts and the Company expects to make its next shipment of uranium later this quarter.

Glenn Catchpole, CEO of Uranerz, commented:

This shipment takes the Company one step closer to completing its first recorded sales transaction. We look forward to reporting production and revenue figures in the next quarter.

Click here to read the full Uranerz Energy Corp. (TSX:URZ,NYSEMKT:URZ) press release.