Uranium Energy Posts Q1 Results, Launches U.S. Refining Push as Shares Fall 8%

Overview

• UEC reported Q1 FY2026 production of 68,612 pounds of U3O8 with a total cost of $34.35 per pound and cash costs of $29.90 per pound.
• Irigaray refurbishments enabled 24/7 operations with 49,000 pounds packaged in November, while Ludeman, Christensen Ranch and Burke Hollow advanced toward additional ISR capacity.
• UEC formed United States Uranium Refining & Conversion Corp with Fluor engaged on a feasibility study, supported by a $234 million equity raise.
• The FAST-41 Sweetwater complex reached a permitting milestone with a Plan of Operations filed to the BLM, with drilling and monitor wells initiated.
• In Canada, the Roughrider project advanced with a 34,000-meter core drilling program and Tetra Tech Canada supporting the ongoing pre-feasibility study, as strategic inventory reached 1,356,000 pounds with 300,000 more contracted at $37.05 per pound.