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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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March 23, 2015
09:01 EDTURREUranium Resources commences phase one exploration drilling at Alta Mesa Este
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09:01 EDTURREUranium Resources announces preliminary drill results from Butler Ranch project
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March 19, 2015
08:05 EDTURREUranium Resources reports FY14 EPS (44c), one estimate (58c)
08:02 EDTURREUranium Resources sees cash funds to fund working capital needs into 2016
As announced in the company’s February 24 news release, the company expects its mineral property and general and administrative cash expenditures, excluding non-cash stock compensation in 2015 to be approximately $9M, 23% lower than the $11.6M expended in 2014. Based on the current business plans including the $0.8M exploration drilling program, the company expects that its existing cash funds and the availability of the ATM facility will fund its working capital needs well into 2016. The company’s goals for 2015 are to: Achieve zero lost time incidents, Complete and evaluate drill results from the phase one exploration drilling programs at Butler Ranch and Alta Mesa Este projects, Establish the scope and timing for phase two exploration programs, Achieve the targeted cash expenditure level of $9M, and Increase shareholder value by adding to our portfolio of quality mineralized material and pursuing opportunistic, value-accretive acquisitions and partnering opportunities.

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