USEC +60% after gaining $2.5M in new funds under DoE agreement

|By:, SA News Editor

Uranium supplier USEC (USU +60.4%) soars as much as 70% in early trading after an SEC filing reveals it secured ~$2.5M in additional funds through the U.S. Department of Energy, bringing total DoE funding to ~$16M.

The funds come via an amendment to the agreement with UT-Battelle, operator of Oak Ridge National Laboratory in Tennessee, for continued R&D of the American Centrifuge technology in furtherance of Department of Energy national security objectives.

Also, a statement of operations shows revenues of ~$6M and a net loss of ~$3.5M in May.

Uranium peers on radar include UEC +7.7%, URG +2.7%, URRE +2.7%, DNN +1.6%, UUUU +1.6%.