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Stock Market & Financial Investment News

News Breaks
December 17, 2012
18:14 EDTURREUranium Resources seeks shareholder approval of reverse stock split
Uranium Resources announced that it has filed a proxy statement to seek shareholder approval of a reverse stock split. The company also announced the closing of $5M in bridge financing with Resource Capital Fund V L.P. and the company's plan to undertake a shareholder rights offering in 2013. In order to regain compliance with NASDAQ's minimum $1.00 bid price requirement and maintain the company's NASDAQ listing, URI's Board has unanimously approved a charter amendment to conduct a reverse stock split. On December 17, URI filed definitive proxy materials with the SEC seeking shareholder approval of the charter amendment that will permit it to conduct a reverse stock split of the company's issued and outstanding common stock, by a ratio of not less than 1-for-5 and not more than 1-for-15, with the final ratio to be determined by the company's Board following shareholder approval. A special meeting of shareholders has been scheduled for January 14, 2013 to vote on the reverse split. The $5M Bridge Financing, which carries an annualized interest rate of 10%, will be used for the advancement of URI's strategic projects and general working capital requirements.
News For URRE From The Last 14 Days
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November 13, 2014
10:44 EDTURREUranium Resources mentioned cautiously by TheStreetSweeper
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November 10, 2014
11:12 EDTURREUranium stocks rally after Japan approves reactor restart
Stocks of companies involved with the production, exploration and extraction of uranium are higher after the Kagoshima prefecture approved the restart of the Sendai nuclear power plant in Satsumasendai, Japan. The restart, which is slated to happen next year, will be the first restart since the meltdown at the Fukushima facility in 2011. WHAT'S NOTABLE. According to a BBC report, before the Fukushima incident 30% of Japan's power was nuclear-generated. Japan's Prime Minister Shinzo Abe has argued that the nuclear shutdown is hurting Japan's economy, as it has forced Japan to import expensive fossil fuels to make up the power shortfall. STOCKS TO WATCH. Shares rising following the news include Denison Mines (DNN), which is up over 6%, Uranerz Energy(URZ), up 14%, Cameco (CCJ), up almost 2%, UR-Energy (URG), up almost 14%, Uranium Energy (UEC), up 7%, Energy Fuels (UUUU), up 11% and Uranium Resources (URRE), which is up 19% in late morning trading.

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