Constructing the World's Next New Uranium Mine
On August 30th, 2010 Uranium Energy Corp (NYSEMKT:UEC) announced that the Company had completed Phase One of Wellfield Development at the Palangana ISR uranium project in South Texas.
Construction at Palangana is on-track for initial production starting in November this year.
The Company has completed 40 injection and production wells thus far, which completed Phase One in the development of PAA-1. The wells will be brought on-stream in three approximately equivalent phases as part of the build-up to initial sustainable levels of production.
Construction of Palangana’s ion-exchange satellite facility is underway with pumps and tanks to be being installed.
Harry Anthony, Chief Operating Officer, stated, “The development progress at Palangana is on-track, on-schedule and on-budget for initial production starting in November this year. We are continuing the drilling, electrical build-out and wellfield piping, and are pleased with the pace and testing to date.”