Uranium Energy Corp said fiscal 2026 production rose to 229,294 pounds of precipitated uranium and dried and drummed U3O8, up from 359,260 pounds produced since commissioning through year-end, as the company moved from a single mine in Wyoming to output from two mines in two states.
The biggest quarterly jump came in the fourth quarter, when combined output from Christensen Ranch and Burke Hollow reached 82,744 pounds, up 157% from 32,195 pounds in the third quarter. Total cost per pound fell 33% to $36.54, while cash cost per pound was $30.01.
At Christensen Ranch, fourth-quarter production doubled to 65,392 pounds from the prior quarter. Cash cost per pound dropped to $28.38 from $46.69, and total cost per pound fell to $35.63 from $54.61.
Burke Hollow produced 17,352 pounds in its first full quarter of operation. Cash cost per pound there was $36.13 and total cost per pound was $39.93.
For the full fiscal year, UEC reported a total cash cost of $34.24 per pound and a total cost of $39.94 per pound.
The company sold 400,000 pounds from inventory at a weighted average realized price of $93.13 per pound, generating $37.3 million in revenue and $16.9 million in gross profit. It ended the year with $753 million in liquid assets, including $495 million in cash, and no debt.
UEC said its inventory stood at 1,256,000 pounds of U3O8 as of July 31, 2026, valued at $109 million at current market prices, excluding 359,260 pounds at its processing plants.
Operationally, drilling capacity expanded sharply. UEC said it had 17 drill rigs in the Powder River Basin at year-end, up from 12 a year earlier, and 21 drill rigs in South Texas, up from 8. At Sweetwater, it had 2 drill rigs in operation in the Great Divide Basin.
On the project side, UEC said 36,000 meters of core drilling were completed at Roughrider during the quarter. At Ludeman, monitoring, injection and recovery wells for the first wellfield were under construction, while engineering work advanced enough to allow procurement of long lead-time equipment for the satellite ion-exchange plant.
UEC also said its uranium refining and conversion unit advanced toward a class IV cost estimate, with a 63-member project team in place and the estimate expected by mid-2027. Today the company's shares have moved -2.12% to a price of $9.21. For the full picture, make sure to review URANIUM ENERGY CORP's 8-K report.
