Seeking Alpha

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

  • 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%.
Comments (3)
  • DeepValueLover
    , contributor
    Comments (9394) | Send Message
     
    In 2007, this stock nearly hit $600 per share.
    1 Jul 2014, 11:36 AM Reply Like
  • Michael Bryant
    , contributor
    Comments (5744) | Send Message
     
    (USU) has a $36 million market cap. Will this $2.5 million be enough?
    1 Jul 2014, 09:10 PM Reply Like
  • 27975573
    , contributor
    Comments (303) | Send Message
     
    It is another roller coast ride for (USU)....
    If you are fast enough to play the ride....good luck.

     

    Slow an steady (CCJ) more to my liking.
    2 Jul 2014, 10:44 AM Reply Like
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