UEXCF - UEX Corp

About UEX

UEX is a Canadian uranium exploration and development company actively involved in 19 uranium projects, including seven that are 100% owned and operated by UEX, one joint venture with AREVA Resources Canada Inc. ("AREVA") that is operated by UEX, ten under option from AREVA and one under option from Japan-Canada Uranium Company, Limited, which are operated by AREVA. The 19 projects, totaling 386,650 hectares (955,400 acres), are located in the eastern, western and northern perimeters of the Athabasca Basin, the world's richest uranium belt, which accounts for approximately 25% of the global primary uranium production. UEX is currently developing several uranium deposits in the Athabasca Basin which include the Anne and Kianna Deposits at its Shea Creek Uranium Project, a joint venture with AREVA in the western Athabasca Basin, and the West Bear, Raven and Horseshoe deposits located at its 100% owned Hidden Bay Project in the eastern Athabasca Basin. UEX's exploration and development budgets for 2007 total $30.0 million, and the Company has a cash position of approximately $52.5 million.

dilution ??? explains the recent sell off

Fri Mar 27, 2009
UEX Announces $8.0 Million Underwritten Private Placement of Flow-Through Common Shares

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UEX Corporation ("UEX") is pleased to announce that it has entered into an agreement with a syndicate of Underwriters led by Dundee Securities Corporation, and including Cormark Securities Inc., pursuant to which the Underwriters have agreed to find purchasers, on an underwritten private placement basis, for 8,000,000 flow-through common shares at a price of $1.00 per flow-through common share for aggregate gross proceeds to UEX of $8.0 million (CDN).

Proceeds of the flow-through common shares will be used to accelerate exploration and development of UEX's uranium deposits at its 100%-owned Hidden Bay Project located in the eastern Athabasca Basin area of northern Saskatchewan, Canada. UEX will agree to incur and renounce qualifying Canadian Exploration Expenditures under the Income Tax Act (Canada) to purchasers of the flow-through common shares in an amount equal to the subscription price of such shares.

The offering is scheduled to close on or about April 15, 2009 and is subject to certain conditions including the receipt of all necessary approvals including the approval of the Toronto Stock Exchange.

If you are into Uranium look into HAT. It has a ton of good stuff going for it and it is still at a great price right now. You also get free MAX shares with it as an added bonus although they are not worth much. I have UEX on my watch list and it has not moved much the last little while.

I bought at .67 and its at .85 now. This is heading back up to $1.15

If I were you guys, I'd load.

breakout this morning. I should buy more...

Right at the end of this clip UEX is mentioned.

 

http://watch.bnn.ca/clip695334#clip695334