Wednesday, 4 April 2012

Uranerz Energy Corp (AMEX: URZ)

Uranerz Energy Corporation, an exploration stage company, engages in the acquisition and exploitation of uranium and mineral resources in the United States. It focuses on developing uranium properties in the Powder River Basin area of Wyoming into commercial in-situ recovery uranium mines.

URZ has some 30 properties in Wyoming, not all are explored but are known to have uranium deposits.
Uranium properties in Wyoming, USA.
Nichols Ranch:
Indicated: 2.9 million lbs
Measured and Indicated: 2.2 million lbs
Inferred: 0.25 million lbs
Jane Dough:
Measured and Indicated: 2.7 million lbs
Inferred: 0.25 million lbs
Reno Creek:
Measured and Indicated: 4.2 million lbs
Inferred: 0.14 million lbs
West North - Butte
Measured and Indicated: 2.8 million lbs
Inferred: 2.6 million lbs
Total: 18 million lbs

U3O8 spot price

Cost of production, including taxes and royalty is $35/lb
Shares outstanding is 77.1 million (87 million fully diluted)
Cash as at 31 Mar 2012: US$27 million
Debt: Nil
Current share price is $1.38

Production on track for 2H2012
Require one more permit - Deep disposal well permit.
Licensed for production of 2 million lbs/yr
Initial production of 600,000 lbs/yr

Update on 24 Oct 2012
URZ announced it has received the permit for the deep disposal well permit.
It can now commence production for the Nichols Ranch property.

Company website:

This analyst thinks that URZ is a potential takeover candidate.

A research report on URZ is here

URZ discovers new uranium deposits on Monument project announced on 21 Jun 2012

Nice article on uranium dated 17 Jan 2014 (link).

URZ announced merger with Energy Fuels (AMEX-UUUU) on 6 Jan 2015.
Deal expected to complete in 2Q2015.
1 URZ share will be exchanged for 0.255 UUUU share.

Chart forUranerz Energy Corp. (URZ)

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