The agreement relates to production of 300,000 pounds of uranium from the company’s Hobson processing facility in Texas, US.
The multi-year contract calls for deliveries over a three-year period starting in August 2011.
UEC president and CEO Amir Adnani said the contract will be the first-ever sales contract and validates our status as North America’s newest emerging uranium producer which will allow us to manage our cash flow more effectively.
The production will be sold through a combination of spot market sales and long-term contracts in establishing a balanced portfolio of sales points and prices for our uranium production, Adnani said.
