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Uranium Resources, (Nasdaq:URRE) (ASX:URI), an energy metals exploration and development company, announced today its results for the second quarter of fiscal year 2017, and also discussed its business outlook and its energy metals business development in 2017. Uranium Business Continuing reclamation work at our Texas properties has resulted in the approval by Texas Commission on …
Uranium Resources, (Nasdaq:URRE) (ASX:URI), an energy metals exploration and development company, announced today its results for the second quarter of fiscal year 2017, and also discussed its business outlook and its energy metals business development in 2017.
Uranium Business
Continuing reclamation work at our Texas properties has resulted in the approval by Texas Commission on Environmental Quality on July 28, 2017 of bond reduction in the amount of $318,000 at the Rosita project. This is an important milestone for the Company that demonstrates its continuing commitment to the communities where we work, and is a testament to the hard and high quality work on the part of our team in Texas.
The Company executed an amendment to the Juan Tafoya Land Corporation Mining Lease whereby the annual rent was reduced from $307,000 to $175,000 for each of the next three years and the production royalty was fixed at 4% versus a variable rate ranging from 4.65% to 6.50%. The Company is continuing discussions with Cebolleta Land Grant representatives about revised terms on its mining lease.