After a four-week stint below the $1 threshold, NASDAQ listed Uranium Resources, Inc. (NASDAQ:URRE) has finally returned to dollarland.
Going up 17%, URRE stock closed yesterday’s session at $1.08 per share, marking a successful continuation of the previous trade when the value of URRE shares surged 19%. As a result, stockholders seem much more relieved now that the company appears to have got over the six-month low hit earlier this month.
Yet, a handful of investors have not had enough. Striving for a continual chart run, they have just organized a free newsletter campaign hoping to give URRE another boost in the forthcoming session.
As its name suggests, Uranium Resources specializes in exploring, developing and mining uranium. The latest company-related news came up two days ago, i. e Oct. 18. The occasion: the reactivation of URRE’s license to produce no more than 3 million pounds of uranium by the Nuclear Regulatory Commission (NRC). In the best-case scenario, however, the company will not be able to start production earlier than 2013 since the feasibility study has yet to be completed.
According to URRE’s latest 10-Q form, its balance sheet contained the following figures a/o Jun. 30, 2011:
- $8.2 million in cash and cash equivalents;
- net working capital of $5.5 million;
- net loss of $2.7 million.
As it seems, the company is stable enough to endure losses for the next couple of quarters. Yet, even if it needed additional financing, URRE would hardly have any trouble acquiring it, especially considering that it has already grossed $169 million from stock issuance.
